| RELATED PARTY |
NOTE 11 – RELATED PARTY
During the three and six months period ended June
30, 2025, and 2024, the Company engaged in transactions with related parties, including consultants, directors, and entities affiliated
with members of the Board of Directors. These transactions primarily relate to legal services, consulting
fees, director compensation, accounting services, and expense reimbursements.
Related
Party Transactions for the Three and Six Months Ended June 30, 2025
| • | | The Company incurred $2,100 and $69,643 in legal fees and expense reimbursements with a related
party law firm for the three and six months ended June 30, 2025, respectively. Related accrual was $68,750 as of June 30, 2025. |
| • | | The Company incurred $16,980 and $39,740 in accounting and IT service fees and expense reimbursements
to related parties for the three and six months ended June 30, 2025, respectively. Related accrual was $4,920 as of June 30, 2025. |
| • | | The Company incurred $53,841 and $108,636 in fees and travel expenses to directors for the
three and six months ended June 30, 2025, respectively. Related accrual was $51,250 as of June 30, 2025. |
| • | | The Company incurred $82,500
and $165,000
in consulting fees to advisory board member for the three and six months ended June 30, 2025, respectively. Related accrual was
$22,500
as of June 30, 2025. |
Related
Party Transactions for the Three and Six Months Ended June 30, 2024
| • | | The Company incurred $38,759 and $62,759 in legal fees with a related party law firm for
the three and six months ended June 30, 2024, respectively. Related accrual was $90,360 as of December 31, 2024. |
| • | | The Company incurred $67,900 and $162,121 in accounting and IT service fees and expense reimbursements
to related parties for the three and six months ended June 30, 2024, respectively. Related accrual was $8,326 as of December 31, 2024. |
| • | | The Company incurred $57,555 and $111,339 in fees and travel expenses to directors for the
three and six months ended June 30, 2024, respectively. Related accrual was $72,748 as of December 31, 2024. |
| • | | The Company incurred $120,673 and $222,373 in consulting fees and travel reimbursements to
advisory board members for the three and six months ended June 30, 2024, respectively. Related accrual was $29,345 as of December 31,
2024. |
|