Note 3 - Related Party Transactions and Relationships	12 Months Ended
Dec. 31, 2017
Notes
Note 3 - Related Party Transactions and Relationships	NOTE 3: RELATED PARTY TRANSACTIONS AND RELATIONSHIPS: All directors are related parties. IceLounge Media, Inc. “ILMI” funded 100% of the development of the Momscorner.com website prior to December 31, 2013. ILMI spun off the website to the Company. All amounts due to related parties were converted to stock in 2013 by prior agreement. The stock fair value was determined to be $0.5168 per share, based on the fair values of the website and the anticipated public filing. During the year ended December 31, 2017, the Company recognized $50,000 in platform lease expense due to ILMI and paid back $17,939, making the total due to parent $193,949 as of December 31, 2017. During the year ended December 31, 2016 ILMI paid certain net expenses for and on behalf of the Company of $16,222, bringing the total due to parent of $161,888 as of December 31, 2016. The amount is due on demand and bears no interest. In addition, Social Quotient Inc. the company’s affiliate (sister corp.) paid $0 and $9,685, of expenses for and on behalf of the Company for the years ended December 31, 2017 and 2016, respectively. These amounts were accounted for as paid in capital. During 2017 and 2016, the Company paid Social Quotient Inc. $9,000 and $0 for consulting services, respectively. On June 6, 2016 the Board of Directors of ILMI agreed to transfer from its own holdings of the company’s common stock, 25,000 shares to a company shareholder because he was the first to invest in all three of the ILMI family of companies. The Company licenses its technology platform from ILMI, under an Agreement which calls for an automatic 12 month renewal each year on October 1, and a monthly lease payment of $4,167. The company accrued $50,000 for platform lease expense for each of the twelve month periods ended December 31, 2017 and 2016, respectively. WB Capital, a related party with common principal ownership, provides Merger & Acquisition and project management services to the Company as a consultant. There is no written agreement governing the relationship. The Company accrued $2,500 a month for these services. Due to the Company’s lack of available cash, the amounts were not paid during either of the years ended December 31, 2017 or 2016. The Company owed WB Capital $90,000 and $60,000, as of December 31, 2017 and 2016, respectively. Scott E. Lybbert, prior CFO, provided accounting and reporting services to the Company as a consultant. There was no written agreement governing the relationship. For the year ended December 31, 2016, the Company accrued $16,333, for Lybbert’s services (no amounts were accrued for the year ended December 31, 2017). The Company paid back Mr. Lybbert $4,800 and $2,250 during the years ended December 31, 2017 and 2016, respectively. Mr. Lybbert passed away in February 2017. As of December 31, 2017, $16,658 was owed to Mr. Lybbert’s estate. The Company paid a former financial consultant, currently a director, who began working for the company at the end of the first quarter of 2016. The company had accrued invoices from this consultant in the amount of $13,200 for the year ended December 31, 2016, of which all $13,200 has been paid back.

Note 3 - Related Party Transactions and Relationships

12 Months Ended

Dec. 31, 2017

NOTE 3: RELATED PARTY TRANSACTIONS AND RELATIONSHIPS:

All directors are related parties. IceLounge Media, Inc. “ILMI” funded 100% of the development of the Momscorner.com website prior to December 31, 2013. ILMI spun off the website to the Company. All amounts due to related parties were converted to stock in 2013 by prior agreement. The stock fair value was determined to be $0.5168 per share, based on the fair values of the website and the anticipated public filing.

During the year ended December 31, 2017, the Company recognized $50,000 in platform lease expense due to ILMI and paid back $17,939, making the total due to parent $193,949 as of December 31, 2017. During the year ended December 31, 2016 ILMI paid certain net expenses for and on behalf of the Company of $16,222, bringing the total due to parent of $161,888 as of December 31, 2016. The amount is due on demand and bears no interest.

In addition, Social Quotient Inc. the company’s affiliate (sister corp.) paid $0 and $9,685, of expenses for and on behalf of the Company for the years ended December 31, 2017 and 2016, respectively. These amounts were accounted for as paid in capital.

During 2017 and 2016, the Company paid Social Quotient Inc. $9,000 and $0 for consulting services, respectively.

On June 6, 2016 the Board of Directors of ILMI agreed to transfer from its own holdings of the company’s common stock, 25,000 shares to a company shareholder because he was the first to invest in all three of the ILMI family of companies.

The Company licenses its technology platform from ILMI, under an Agreement which calls for an automatic 12 month renewal each year on October 1, and a monthly lease payment of $4,167. The company accrued $50,000 for platform lease expense for each of the twelve month periods ended December 31, 2017 and 2016, respectively.

WB Capital, a related party with common principal ownership, provides Merger & Acquisition and project management services to the Company as a consultant. There is no written agreement governing the relationship. The Company accrued $2,500 a month for these services. Due to the Company’s lack of available cash, the amounts were not paid during either of the years ended December 31, 2017 or 2016. The Company owed WB Capital $90,000 and $60,000, as of December 31, 2017 and 2016, respectively.

Scott E. Lybbert, prior CFO, provided accounting and reporting services to the Company as a consultant. There was no written agreement governing the relationship. For the year ended December 31, 2016, the Company accrued $16,333, for Lybbert’s services (no amounts were accrued for the year ended December 31, 2017). The Company paid back Mr. Lybbert $4,800 and $2,250 during the years ended December 31, 2017 and 2016, respectively. Mr. Lybbert passed away in February 2017. As of December 31, 2017, $16,658 was owed to Mr. Lybbert’s estate.

The Company paid a former financial consultant, currently a director, who began working for the company at the end of the first quarter of 2016. The company had accrued invoices from this consultant in the amount of $13,200 for the year ended December 31, 2016, of which all $13,200 has been paid back.

Moms Online, Inc. 10-K