Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 10 – RELATED PARTY TRANSACTIONS
Operating expense related party
During the three months ended March 31, 2025, and 2024, the Company incurred approximately $0 and $30,000, respectively, in investor marketing and relations services from a company owned by the former chief strategy officer.
Related party payable
On August 1, 2022, the Company entered into a lending arrangement with a related party, the prior owner of Click Fish Media. The loan is for a two (2) year term and accrued simple annual interest at a rate of 5% per annum. As of March 31, 2025, and December 31, 2024, the remaining note payable balance was $77,251 and $77,251, respectively, which includes all outstanding principle and accrued interest.
Related party management fees
During the three months ended March 31, 2025, and 2024, 47 Capital Management LLC, an entity wholly owned by the former CFO, billed the Company $0 and $0 and the Company paid $0 and $5,000, respectively. 47 Capital Management LLC provide outsourced CFO services.
During the three months ended March 31, 2025, and 2024, Thornhill Advisory Group, Inc., an entity majority owned by the former CFO, billed the Company $0 and $110,000, respectively and the Company paid $0 and $110,000 respectively. Thornhill Advisory Group provided financial consulting services from May 2023 through October 2023. From November 2023 through December 2024, Thornhill Advisory Group, Inc. provided outsourced CFO services.
During the three months ended March 31,2025, SGT Teams, an entity wholly owned by the Company’s CEO, billed the Company management fees of $33,277 and the Company paid $39,500.
Related party debt conversion to common stock
In January 2024, 38,404 shares, valued at $2.00 per share, for a total value of $77,095 were issued to our CEO for settlement to related parties for accounts payable.
In January 2024, 47,584 shares, valued at $2.00 per share, for a total value of $95,165 were issued to our Chief Product Officer for settlement to related parties for accounts payable.
In January 2024, 10,625 shares, valued at $2.00 per share, for a total value of $21,250 were issued to a company owned by our CFO for settlement to related parties for accounts payable.
Repaid due to related parties
During the three months ended March 31, 2025, the Company repaid $21,729 due to related parties. |