Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.22.1
Related Party Transactions
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 17 – RELATED PARTY TRANSACTIONS

 

Due From Related Party

 

On December 31, 2021 and 2020, the Company has an amount due from the Company’s chief executive officer of $0 and $5,526 related to the overpayment of accrued compensation, respectively.

 

In December 2021, the Company advanced $3,750 to a company partially owned by officers of the Company. The advance is non-interest bearing, payable on demand, and is reflected as due from related party on the accompanying consolidated balance sheet.

 

Sales and Accounts Receivable – Related Party

 

During the year ended December 31, 2021, the Company recognized sales of $1,200 to a company partially owned by officers of the Company.