Related Party |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party | |
| Related Party | Note 3 – Related Party
Notes Payable
From time to time, the Company has received short-term loans from officers and directors as disclosed in Note 7 below. The Company has a total of $553,603 and $502,985 of notes payable on the consolidated balance sheet as of June 30, 2026 and December 31, 2025, respectively.
From January 2022 to March 31, 2022, the Company received loans of $4,000 and $500,000 from Nicole Breen and Glenn Martin, respectively. The $500,000 loan from Glenn Martin replaced the $300,000 loan. From January 2023 to March 31, 2023, the Company paid off the remaining balance of the loan from Nicole Breen that was originally $37,500. From April 2023 to June 30, 2023, the Company received $50,000 from Nicole Breen. From July 2023 to September 30, 2023, the Company paid off Glenn Martin’s loan of $500,000 and Nicole Breen’s loan of $50,000. From July 2024 to September 30, 2024, the Company received $10,000 from Glenn Martin. From September 2024 to December 31, 2024, the Company received $300,000 from Glenn Martin and paid off Glenn Martin’s loan of $5,000. From January 2025 to December 31, 2025, the Company received loans of $162,000 and $37,403 from Glenn Martin and Nicole Breen, respectively, and paid off $130,000 of Glenn Martin’s loan. From January 2026 to June 30, 2026, the Company received $43,500 from Glenn Martin and $4,500 from Nicole Breen and paid off $800 of Nicole Breen’s loan.
On May 2, 2022, the Company acquired the Hempirical Genetics, LLC from Jeffrey Miller, and then Jeffrey Miller became the executive officer of WEED, Inc. Based on the agreement, the Company owed Jeffrey Miller $120,000 as of June 30, 2023.
On July 1, 2022, Patrick Brodnik signed executive employee agreement with the Company, and become one of the related parties since that. On various dates during the third quarter 2022, the Company received advance of $3,661 from Patrick Brodnik at no interest. From April 2024 to June 2024, the Company paid off the advance of $3,661.
Services
Nicole M. Breen receives $8,000 a month in cash compensation for her services rendered to the Company.
Glenn E. Martin receives $7,000 a month in cash compensation for his services rendered to the Company.
Accrued Expense
A total of $75,900 and $58,500 of accrued expenses related to rent was unpaid and outstanding as of June 30, 2026 and December 31, 2025, respectively.
Accrued Compensation
A total of $459,750 and $369,750 of officer compensation was unpaid and outstanding as of June 30, 2026 and December 31, 2025, respectively. |