Related Party Transactions |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2026 | |||
| Related Party Transactions [Abstract] | |||
| RELATED PARTY TRANSACTIONS |
The following transactions were entered into with related parties:
William Corbett
The option expense for options still vesting for Mr. Corbett was $1,371 and $1371 and $2,742 and $19,186 for the three and six months ended June 30, 2026 and 2025, respectively.
On February 3, 2026, the board of directors granted Mr. Corbett 30,000,000 shares of common stock with a fair market value of $0.0126 per share, totaling $378,000.
As of June 30, 2026 and December 31, 2025, the company owed Mr. Corbett and $7,832, respectively. Mr. Corbett paid certain operating expenses on behalf of the Company.
Mr. Corbett, the Company’s CEO, has a convertible note payable to him which matured on January 6, 2026 and is technically in default. The note initially accrued interest at 8% per annum which defaulted to 15% per annum on January 6, 2026 and is convertible into shares of common stock at a conversion price of $0.005 per share. The balance of the convertible note outstanding, including interest thereon at June 30, 2026 and December 31, 2025 is $263,040 and $253,519, respectively.
Madisson Butler
On February 3, 2026, the board of directors granted Ms. Butler 10,000,000 shares of common stock as directors fees with a fair market value of $0.0126 per share, totaling $126,000.
David Rios
On February 3, 2026, the board of directors granted Mr. Rios 10,000,000 shares of common stock as directors fees with a fair market value of $0.0126 per share, totaling $126,000. |