Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.19.2
Related Party Transactions
6 Months Ended
Jun. 30, 2019
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 12 - 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 June 30, 2019, the accounts payable due to related party includes; advances for inventory and services due to David Phipps of $18,918. Total payments due to David Phipps as of June 30, 2019 and December 31, 2018 are $18,918 and $39,027, 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 $30,968 and $37,839 for the six months ended June 30, 2019 and June 30, 2018, respectively.