Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS
The Company executed a new employment agreement with Mr. Wood on January 1, 2025. Per the terms of the agreement Mr. Wood was to be compensated $9,000 per month. During the three months ended March 31, 2026 and 2025, cash payments of $13,000 ($6,500 of which was debited to accruals) and $18,000, respectively, were paid to Mr. Wood. On February 26, 2026, Thomas Wood, the Company’s founder, Chairman of the Board of Directors, and Chief Executive Officer passed away.
During the three months ended March 31, 2026 and 2025, the Company paid $0 and $12,500, respectively, to the brother of Mr. Wood, for services related to development of the Company’s product.
Effective March 2, 2026, Anita Michaels, the sole surviving member of the Board following Mr. Wood’s passing, COO, and his sister, acted by written consent in lieu of a meeting to reconstitute the Board. Mrs. Michaels elected herself as Chairman of the Board and appointed Jeffrey Marshall, and Alexander Johnson as directors. Mr. Marshall was also appointed as the new CEO. Refer to Note 12 for subsequent change of control and management.
During the three months ended March 31, 2026, the Company incurred $22,640 of compensation expense for Ms. Michaels. As of March 31, 2026, $5,000 in compensation was due to Ms. Michaels.
During the three months ended March 31, 2026, the Company paid $15,000 to Mr. Marshall. |