NOTE 9 — RELATED PARTY TRANSACTIONS

Daniel Bates, CEO

On February 21, 2021, the Company amended the employment agreement with Daniel Bates, CEO. The amendment extended the term of his agreement from three years commencing May 27, 2020, to expire on May 27, 2025.  As of June 30, 2025, a new agreement has not been finalized. Until such time Mr. Bates will continue to serve as CEO under the same terms.

As of June 30, 2025 and December 31, 2024, the Company owed Mr. Bates $239,000 and $236,000, respectively, for accrued compensation. 

Rachel Boulds, CFO

The Company entered into a consulting agreement with Rachel Boulds, effective as of May 1, 2021, to serve as part-time Chief Financial Officer for compensation of $5,000 per month, which increased to $7,500 in June 2023. As of June 30, 2025 and December 31, 2024, the Company owed Ms. Boulds $0 and $0, respectively, for accrued compensation.

Daniel Harris, Chief Revenue Officer

As of June 30, 2025 and December 31, 2024, the Company owed Mr. Harris $37,500 and $37,500 , respectively, for accrued compensation.

Michael Dorsey, Director

During the six months ended June 30, 2025 and 2024, the Company paid Mr. Dorsey, $0 and $9,000, respectively, for director fees. As of June 30, 2025 and December 31, 2024, the Company owed Mr. Dorsey, $9,000 and $0, respectively, for director fees.  

Greg Boehmer, Director

During the six months ended June 30, 2025 and 2024, the Company paid Mr. Boehmer, $0 and $9,000, respectively, for director fees. As of June 30, 2025 and December 31, 2024, the Company owed Mr. Boehmer, $9,000 and $0, respectively, for director fees.  In addition, the Company owes Mr. Boehmer $18,000 and $15,000, for consulting services as of June 30, 2025 and December 31, 2024, respectively.

Bart Fisher, Director

During the six months ended June 30, 2025 and 2024, the Company paid Mr. Fisher, $0 and $9,000, respectively, for director fees and owes $9,000 as of June 30, 2025. 

Green Invest Solutions Ltd.

During September 2023, a $70,000 note was issued to Green Invest Solutions Ltd. which is managed by the same individuals as Clean-Seas Morocco. The loan is considered to be short-term and does not accrue interest.

Management of Clean-Seas Morocco

On occasion, management of Clean-Seas Morocco provides funds to the company for general operations. As of June 30, 2025 and December 31, 2024, $867,283 and $693,495 was due to management, respectively. There are no agreements, and no interest rates applied.

Note Payable

Pursuant to the Morocco Purchase Agreement, Clean-Seas paid an aggregate purchase price of $6,500,000 for the Morocco Acquisition, of which (i) $2,000,000 was paid on the Morocco Closing Date and (ii) the remaining $4,500,000 is to be paid to Ecosynergie Group over a period of ten (10) months from the Morocco Closing Date. During the year ended December 31, 2024, the Company paid $200,000 towards the balance due. During the six month s ended June 30, 2025 the Company paid an additional $35,000 towards the balance due, for a balance due as of June 30, 2025, of $4,265,000.

On March 11, 2025, the Company issued a Promissory Note to Dan Bates, CEO, for $100,000. The note bears interest at 8% and matures on March 11, 2026. Accrued interest as of June 30, 2025 is $2,455.

On March 26, 2025, the Company issued a Promissory Note to Dan Bates, CEO, for $250,000. The note bears interest at 8% and matures on March 26, 2026. Accrued interest as of June 30, 2025 is $5,315.

Related Party Revenue

For the six months ended June 30, 2025, our operations in Morocco generated all of the revenue from a party under control of the management of Clean-Seas Morocco.