v3.25.2
Accounts Payable and Accrued Liabilities including Related Parties
 6 Months Ended
Jun. 30, 2025
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities including Related Parties

Note 4 – Accounts Payable and Accrued Liabilities including Related Parties

 

Accounts payable and accrued liabilities were as follows at June 30, 2025 and December 31, 2024, respectively:

 

Accounts payable and accrued liabilities  June 30, 2025  December 31, 2024
Accounts payable  $3,801,000   $878,475 
Accrued salaries   66,789    57,141 
Accrued expenses - other   2,813,235    785,911 
Total accounts payable and accrued liabilities  $6,681,024   $1,721,527 

 

   June 30, 2025   December 31, 2024 
Accounts payable and accrued liabilities - related parties  $73,250   $73,250 
Accrued guarantee fee - Chief Executive Officer   212,247    - 
Accrued interest payable - related parties   2,449,365    1,473,201 
Total accounts payable and accrued liabilities - related parties  $2,734,862   $1,546,451 

 

Guarantee Arrangement – Chief Executive Officer

 

On March 25, 2025, the Company entered into an agreement with its Chief Executive Officer. Under this agreement, in exchange for personally guaranteeing certain Company debt transactions, the Chief Executive Officer will receive a fee equal to 3% of the guaranteed debt. This fee will be repaid when the funds are received. For the six months ended June 30, 2025 and the year ended December 31, 2024, the Company accrued $212,247 and $0, respectively.