RELATED PARTY TRANSACTIONS AND BALANCES |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| RELATED PARTY TRANSACTIONS AND BALANCES | |
| RELATED PARTY TRANSACTIONS AND BALANCES | NOTE 4 - RELATED PARTY TRANSACTIONS AND BALANCES
During the six months ended June 30, 2024 and 2023, a minority stockholder who is not a 5% stockholder advanced $1,000 and $0 and paid expenses of $19,392 and $144 on behalf of the Company, respectively. During the three months ended June 30, 2024 and 2023, such minority stockholder advanced $1,000 and $0 and paid expenses of $6,104 and $108 on behalf of the Company, respectively.
At June 30, 2024 and December 31, 2023, the Company owed $108,088 and $87,696 to the minority stockholder referred to in the preceding paragraph for non-interest-bearing advances made to or expenses paid on behalf of the Company, and these amounts are due on demand.
At June 30, 2024 and December 31, 2023, 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 which amounts 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 $2,011 and $1,577 during the six months ended June 30, 2024 and 2023, respectively and in the amount of $1,057 and $789 during the three months ended June 30, 2024 and 2023, respectively. |