COMMITMENTS AND CONTINGENCIES |
3 Months Ended | 12 Months Ended |
---|---|---|
Mar. 31, 2025 |
Dec. 31, 2024 |
|
Commitments and Contingencies Disclosure [Abstract] | ||
COMMITMENTS AND CONTINGENCIES | NOTE 6 – COMMITMENTS AND CONTINGENCIES
Office Facility and Other Operating Leases
As of September 28, 2021, the Company’s new corporate address was 1800 Century Park East, Suite 600, Los Angeles, CA 90067 (“California Lease”). The Company has signed the California Lease on a month-to-month basis, entitling it to use the office and conference space as needed. The new lease is $229 per month, which is included in the general and administrative expenses. For the three months ending March 31, 2025, and 2024, the office’s rent payment was $687, respectively, and was included in the General and Administrative expenses.
Employment Agreement
The Company has entered into a formal employment agreement with its Chief Executive Officer, David Boulette. The CEO’s annual salary is $360,000 per annum. The Company accrues compensation payable to the CEO in Accounts Payable and accrued expenses.
Pending Litigation
Management is unaware of any actions, suits, investigations, or proceedings (public or private) pending or threatened against or affecting the assets or affiliates of the Company.
|
NOTE 6 – COMMITMENTS AND CONTINGENCIES
Office Facility and Other Operating Leases
As of September 28, 2021, the Company’s new corporate address was 1800 Century Park East, Suite 600, Los Angeles, CA 90067 (“California Lease”). The Company has signed the California Lease on a month-to-month basis, entitled the Company to use the office and conference space on a need-only basis. The new lease is $229 per month, which is included in the general and administrative expenses. For the fiscal year that ended December 31, 2024, and 2023, the office’s rent payment was $2,748, and $2,748 was included in the general and administrative expenses.
Employment Agreement
The Company has entered into a formalized employment agreement with its Chief Executive Officer (“CEO”) – David Boulette. The CEO’s annual salary is $360,000 per annum. The Company accrues compensation payable to the CEO in Accounts Payable and accrued expenses.
Pending Litigation
Management is unaware of any actions, suits, investigations, or proceedings (public or private) pending or threatened against or affecting the assets or affiliates of the Company.
|