13. Loans Payable to Related Parties

		2024			2023
Directors	$	48,500		$	47,500
CFO		23,533			-
Shareholders		3,000			-
Haute Inc.		646,121			442,016
Total	$	721,154		$	489,516

The loans owing to directors were received by the Company on June 6, 2022, March 16, 2023 and June 21, 2024, are unsecured, bearing interest at 5% per annum and due on demand.

On December 5, 2023, the Company received a loan from Haute Inc., in the amount of $417,000 (C$600,000) bearing interest at 13% per annum, due June 5, 2024. The net proceeds were $233,864 (C$336,495) after deducting outstanding interest on existing mortgages for a wholly owned subsidiary, 1684567, and other disbursements in the amount of $141,895 (C$204,165), a financing fee in the amount of $12,510 (C$18,000) plus the applicable harmonized sales taxes of $1,626 (C$2,340). In addition, six months of interest in the amount of $27,105 (C$39,000) was capitalized. During the year ended December 31, 2024 $2,578 (2023-$2,298) was incurred on the directors' loans. As at December 31, 2023, $3,386 of accrued interest is included in accrued liabilities in the consolidated balance sheets.

On January 9, 2024, the Company received a loan from Haute Inc., in the amount of $229,121 (C$329,670) bearing interest at 13% per annum due July 9, 2024. The proceeds received on January 9, 2024 net of capitalized interest of $13,553 (C$19,500) for six months and a financing fee of $6,255 (C$9,000) plus the applicable harmonized sales taxes of $813 (C$1,170) amounted to $208,500 (C$300,000).

During the year ended December 31, 2024, Travellers converted $101,130 (C$135,600) (December 31, 2023-$579,271; C$779,383 in outstanding accounts payable and loans) in outstanding accounts payable for 809,044 (December 31, 2023-2,911,852) common shares of the Company, based on closing trading prices on the day prior to each conversion.