NOTE 8 – COMMITMENTS

Executive Employment Agreements

On February 21, 2020, effective January 1, 2020, the Company entered into executive employment agreements with Don D. Roberts its former President and Chief Executive Officer, Harold E. Hutchins its former Chief Financial Officer, and James Owens as its former Chief Technology Officer. The details of these agreements are found in Note 6 below (Commitments). The agreements provide for salaries of $350,000 and auto allowances of $12,000 per year for each of the executives. Mr. Owens’ employment agreement was amended on June 3, 2022 reducing his salary to $1 per year with no auto allowance. Effective June 14, 2024, Mr. Owens and Mr. Roberts resigned from the Company. Effective March 4, 2024, Mr. Hutchins resigned from the Company.

At March 31, 2025 and December 31, 2024, had no accrued salaries, payroll taxes, or auto allowances included in accrued salaries and related expenses on the accompanying unaudited balance sheets resulting from these employment agreements.

The salaries and related expenses related to these agreements for the three months ended March 31, 2025 and 2024 were $0 and $158,194, respectively.

In June 2024, the accrued liabilities associated with these employment agreements were assumed by Webnet, an entity owned and controlled by Mr. Owens (see Note 3).