NOTE 7 – DUE TO RELATED PARTY

During the year ended December 31, 2019, we received no advances from our CEO/director and incurred business expenses of $1,275,852 (comprised of operating expenses) and had repayments of $1,357,488. We have a balance owed to the related party of $1,165,171 and $1,246,805 at December 31, 2019 and 2018, respectively. During the year ended December 31, 2019, we incurred $180,000 of deferred compensation related to the CEO/director’s employment agreement and $80,000 of deferred compensation related to the Secretary’s employment agreement. As of December 31, 2019 and 2018, accrued compensation – related party was $0 and $1,239,750, respectively. At December 31, 2019, the CEO and Secretary forgave all deferred compensation totaling $1,499,750 and based on ASC 470-50-40, Extinguishments of Debt, was included in Additional paid-in-capital in the accompanying consolidated Balance Sheets.