Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.19.1
Related Party Transactions
3 Months Ended
Mar. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 11 - RELATED PARTY TRANSACTIONS

 

The Company entered into a note for $122,536 from the Company’s Chief Executive Officer as part of the Share Exchange Agreement on February 15, 2015. On May 11, 2018, the balance of $5,768, was paid in full. As of March 31, 2019, the accounts payable due to related party includes accrued wages of $18,367 advances for inventory and services due to David Phipps of $27,240. Total payments due to David Phipps as of March 31, 2019 and December 31, 2018 are $45,607 and $39,027, respectively. In addition, as of March 31, 2019, the Company owes Hector Delgado, its Director, $10,000 for accrued director fees and expenses for Theresa Carlise, its Chief Financial Officer, $554. The balance of the related party payable was $56,161 and $39,027 as of March 31, 2019 and December 31, 2018, respectively. Those related party payable are non-interest bearing and due on demand.

 

The Company employs two individuals who are related to Mr. Phipps, of which earned gross wages totaling $18,117 and $19,121 for the three months ended March 31, 2019 and March 31, 2018, respectively.