RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS
Employment Agreements
On January 1, 2021, the Company entered into a 1-year employment agreement (“Agreement”) with Mr. Jason Wood, the Company’s Chief Executive Officer (“CEO”). The Agreement renews automatically on an annual basis. If the CEO is terminated without cause, then the remaining current contract year shall be paid upon termination. The Company currently pays the CEO’s personal living expenses in lieu of a direct salary. During the three month period ended March 31, 2026 and 2025, the Company paid compensation totaling approximately $13,072 and $6,455, respectively.
Related Party Notes Payable (Pickpocket)
On January 13, 2021, the Company entered into a share purchase agreement with the Company’s CEO to acquire an 80% equity interest in Pickpocket Inc. (“Pickpocket”) for a purchase price of $1 million and paid consideration in the form of a promissory note bearing simple interest at a rate of 5% per annum. As of the date of acquisition, Pickpocket did not have any operations or significant assets. Upon acquisition, the Company expensed the purchase price as compensation to the officer. The transaction was accounted for on a carryover basis as the CEO was the controlling shareholder in both entities. As of March 31, 2026 and December 31, 2025, the Company has accrued interest of $162,500 and $150,000, respectively, included within accrued interest – related party on the accompanying balance sheets. During the three month period ended March 31, 2026, there were changes in terms or conditions under the Pickpocket share purchase agreement. As of March 31, 2026 and December 31, 2025, related party notes payable was $1,000,000, respectively, and reported on the accompanying balance sheets. The Pickpocket loan matured on January 13, 2026. The company is in process of executing an extension of this related party loan.
Executive Officer Advances to the Company (Related Party Advances)
The Company’s CEO provided unsecured credit advances to the Company to fund payroll and digital marketing platform operating costs in between financing rounds. These advances do not incur interest and are due on demand. As of March 31, 2026 and December 31, 2025, cumulative unpaid credit advances were $61,424 and $93,394, respectively.
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