RELATED PARTY TRANSACTIONS AND BALANCES |
9 Months Ended |
|---|---|
Sep. 30, 2023 | |
| RELATED PARTY TRANSACTIONS AND BALANCES | |
| RELATED PARTY TRANSACTIONS AND BALANCES | NOTE 4 - RELATED PARTY TRANSACTIONS AND BALANCES
During the nine months ended September 30, 2023 and 2022, a minority stockholder who is not a 5% stockholder paid expenses of $252 and $2,853 on behalf of the Company, respectively. During the three months ended September 30, 2023 and 2022, such minority stockholder paid expenses of $108 and $2,349 on behalf of the Company, respectively.
At September 30, 2023 and December 31, 2022, the Company owed $77,978 and $77,726 to the minority stockholder referred to in the preceding paragraph for non-interest-bearing advances made to or paid expenses on behalf of the Company, and are due on demand, respectively.
At September 30, 2023 and December 31, 2022, the Company owed $1,100 to its chief executive officer for non-interest-bearing advances made to or paid expenses on behalf of the Company and are due on demand.
The Company has imputed interest at the rate of 4% on the advances made to or paid expenses on behalf of the Company in the amount of $2,367 and $919 during the nine months ended September 30, 2023 and 2022, respectively and in the amount of $790 and $499 during the three months ended September 30, 2023 and 2022, respectively. |