Related Party Transactions

12 Months Ended

Dec. 31, 2024

Note 6 – Related Party Transactions

(1) Demand Loans from related party Cubesquare

On May 1, 2019, the Company issued a promissory note (the “Note”) to Decagon LLC, doing business as CubeSquare, LLC (“CubeSquare”), of which the Company’s former Chief Executive Officer is the managing partner and its former President is a 25% owner, in the principal amount of $50,000. The Note bears interest at the rate of 8% per annum and is due and payable by the Company upon demand.

On September 27, 2022 the Board and CubeSquare canceled two previously issued convertible notes with principal balance of $25,000, and accrued interest thereon, and in full satisfaction of such outstanding debt issued a new 6% non-convertible promissory note in the principal amount of $35,873 (the “Note 2”), representing the aggregate principal amount of $25,000 and the aggregate amount of any and all accrued interest in the amount of $10,873 as of September 27, 2022.

Accrued interest, demand loans – related party	Note			Note 2			Total
Balance, December 31, 2022	$	14,674		$	560		$	15,234
Interest expenses		4,011			2,152			6,163
Balance, December 31, 2023		18,685			2,712			21,397
Interest expenses		3,990			2,158			6,148
Settled with common stock*		(22,675	)		(4,870	)		(27,545	)
Balance, December 31, 2024	$	-		$	-		$	-

*The demand loans and accrued interest thereon were settled in full on December 31, 2024 as part of the issuance of debt settlement shares detailed below.

(2) Advances from related parties

A summary of the activity for the funds advanced from related parties to meet shortfalls in the Company’s ongoing operating costs are set out below:

	Jonah Meer			Ido Merfeld			CubeSquare
Balance, December 31, 2022	$	277,500		$	71,000		$	10,000
Additions in period		61,000			5,000			-
Balance, December 31, 2023		338,500			76,000			10,000
Additions in period		151,000			11,000			-
Settled with common stock ^*		(489,500	)		(87,000	)		(10,000	)
Balance, December 31, 2024	$	-		$	-		$	-

*Advances from related parties were settled in full on December 31, 2024 as part of the issuance of debt settlement shares detailed below.

(3) Others

Jonah Meer, the Company’s former Chief Executive Officer and Ido Merfeld, the Company’s former President, settled the Company’s accounts payable as set out below:

Accounts payable and accrued liabilities – related party	Jonah Meer			Ido Merfeld
Balance, December 31, 2022	$	26,268		$	1,169
Addition		33,860			596
Balance, December 31, 2023		60,128			1,765
Addition		2,099			-
Settled with common stock ^*		(109,944	)		(1,765	)
Balance, December 31, 2024	$	-		$	-

* Accounts payable settled by related parties as set out above were settled in full on December 31, 2024 as part of the issuance of debt settlement shares detailed below.

On December 31, 2024, the Company issued the following shares of common stock to settle related party debt as summarized below. The Company recorded a gain related to extinguishment of debt as follows:

	Jonah Meer		Ido Merfeld		CubeSquare
Accounts payable and accrued liabilities – related party	$	109,944	$	1,765		27,545
Balance on credit card		32,975		-		-
Demand loans						85,873
Advances		489,500		87,000		10,000
Subtotal		632,419		88,765		123,418
Settled by issuance of common stock at fair market value		433,250		59,494		64,256
Gain on settlement	$	199,169	$	29,271	$	59,162

Number of shares of common stock issued		2,367,487		325,099		351,130

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

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