Any family member on the BOD that received shares
Post# of 7795
(Total Views: 127)
Posted On: 12/27/2022 2:34:20 PM
Re: Coat Tail Rider #6947
Any family member on the BOD that received shares for (ahem) services, were GIVEN shares. Just look at the track record.
And whatever services relatives provide haven’t led to the finding of even one trinket.
It sure would be nice to see who it is that’s getting paid vs who has the notes.
Additional related party transactions:
The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to pay the related party limited liability company a variable amount per month plus periodic bonuses to provide general business consulting and assessing the Company’s business and to advise management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform period background research including background checks and provide investigative information on individuals and companies and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services under the direction and supervision of the Company’s CEO. During the years ended December 31, 2021 and 2020, the Company paid the related party consultant fees of $15,000 and $58,000, respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations. At December 31, 2021 and 2020, the Company owed the related party limited liability company $0.
The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. During the years ended December 31, 2021 and 2020 the Company paid the related party limited liability company fees of $12,025 and $11,295 respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations. During the years ended December 31, 2021 and 2020, the Company also paid the related party limited liability 1,000,000 and 0 shares of the Company’s restricted common stock, valued at $5,100, and $0, respectively, as a bonus. All of the fees paid to the related party limited liability company are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations. At December 31, 2021 and 2020, the Company owed the related party limited liability company $0.
During the years ended December 31, 2021 and 2020, the Company paid a related party consultant fees of $38,000 and $18,750 respectively for marketing and administrative services rendered to the Company’s Blockchain subsidiary. Additionally, during the years ended December 31, 2021 and 2020, the Company paid the related party consultant 6,000,000 shares, valued at $30,600, and 0 shares, respectively, of the Company’s restricted common stock as further compensation to offset cash payments for extra work and as a retention bonus. All of the fees paid to the related party consultant are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations.
The Company issued 8,734,640 shares of restricted common stock to a related party to settle $20,302 of accrued interest owed on sixteen convertible notes payable.
During the years ended December 31, 2021 and 2020 the Company paid a related party individual fees of $8,500 and $0 respectively, for graphic design services. $5,500 of the fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations and $3,000 of the fees were recorded as a prepaid expense on the accompanying consolidated balance sheets.
During the years ended December 31, 2021 and 2020 the Company paid fees of $31,943 and $24,000 to one of its Board members for business consulting and strategic advisory services that were separate from his duties as a member of the Company’s Board of Directors.
During the years ended December 31, 2021 and 2020 the Company paid fees of $22,000 and $20,000 to a limited liability company controlled by one of its Board members for business consulting and strategic advisory services that were separate from his duties as a member of the Company’s Board of Directors,
During the year ended December 31, 2020, the Company has had extensive dealings with related parties including the following:
In January of 2020, the Company entered into a convertible promissory note agreement in the amount of $51,000 with a related party who is a member of the Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 30, 2020. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.003 per share. This note is currently in default due to non payment of principal and interest upon maturity.
In August of 2020, the Company entered into a convertible promissory note agreement in the amount of $25,200 with a related party who is a member of the Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before February 6, 2021. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0035 per share. This note is currently in default due to non payment of principal and interest.
In August of 2020, the Company entered into a convertible promissory note agreement in the amount of $35,000 with a related party. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before February 6, 2021. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0035 per share. This note is currently in default due to non payment of principal and interest.
F-19
In August of 2020, the Company entered into a convertible promissory note agreement in the amount of $50,400 with a related party who is a member of the Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before February 14, 2021. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0035 per share. This note is currently in default due to non payment of principal and interest.
In December of 2020, the Company extended the term of previous agreements with four individuals to continue serving as members of the Company’s Board of Directors. Two of the individuals are related to the Company’s CEO. Under the agreement, the Directors agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company’s business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company’s operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The previous agreement also terminates automatically upon the death, resignation or removal of the Directors. Under the terms of the agreement, the Company agreed to compensate the Board members via payment of 5,000,000 restricted shares of its common stock each, an aggregate total of 20,000,000 shares, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individuals for preapproved expenses.
And whatever services relatives provide haven’t led to the finding of even one trinket.
It sure would be nice to see who it is that’s getting paid vs who has the notes.
Additional related party transactions:
The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to pay the related party limited liability company a variable amount per month plus periodic bonuses to provide general business consulting and assessing the Company’s business and to advise management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform period background research including background checks and provide investigative information on individuals and companies and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services under the direction and supervision of the Company’s CEO. During the years ended December 31, 2021 and 2020, the Company paid the related party consultant fees of $15,000 and $58,000, respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations. At December 31, 2021 and 2020, the Company owed the related party limited liability company $0.
The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. During the years ended December 31, 2021 and 2020 the Company paid the related party limited liability company fees of $12,025 and $11,295 respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations. During the years ended December 31, 2021 and 2020, the Company also paid the related party limited liability 1,000,000 and 0 shares of the Company’s restricted common stock, valued at $5,100, and $0, respectively, as a bonus. All of the fees paid to the related party limited liability company are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations. At December 31, 2021 and 2020, the Company owed the related party limited liability company $0.
During the years ended December 31, 2021 and 2020, the Company paid a related party consultant fees of $38,000 and $18,750 respectively for marketing and administrative services rendered to the Company’s Blockchain subsidiary. Additionally, during the years ended December 31, 2021 and 2020, the Company paid the related party consultant 6,000,000 shares, valued at $30,600, and 0 shares, respectively, of the Company’s restricted common stock as further compensation to offset cash payments for extra work and as a retention bonus. All of the fees paid to the related party consultant are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations.
The Company issued 8,734,640 shares of restricted common stock to a related party to settle $20,302 of accrued interest owed on sixteen convertible notes payable.
During the years ended December 31, 2021 and 2020 the Company paid a related party individual fees of $8,500 and $0 respectively, for graphic design services. $5,500 of the fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations and $3,000 of the fees were recorded as a prepaid expense on the accompanying consolidated balance sheets.
During the years ended December 31, 2021 and 2020 the Company paid fees of $31,943 and $24,000 to one of its Board members for business consulting and strategic advisory services that were separate from his duties as a member of the Company’s Board of Directors.
During the years ended December 31, 2021 and 2020 the Company paid fees of $22,000 and $20,000 to a limited liability company controlled by one of its Board members for business consulting and strategic advisory services that were separate from his duties as a member of the Company’s Board of Directors,
During the year ended December 31, 2020, the Company has had extensive dealings with related parties including the following:
In January of 2020, the Company entered into a convertible promissory note agreement in the amount of $51,000 with a related party who is a member of the Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 30, 2020. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.003 per share. This note is currently in default due to non payment of principal and interest upon maturity.
In August of 2020, the Company entered into a convertible promissory note agreement in the amount of $25,200 with a related party who is a member of the Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before February 6, 2021. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0035 per share. This note is currently in default due to non payment of principal and interest.
In August of 2020, the Company entered into a convertible promissory note agreement in the amount of $35,000 with a related party. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before February 6, 2021. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0035 per share. This note is currently in default due to non payment of principal and interest.
F-19
In August of 2020, the Company entered into a convertible promissory note agreement in the amount of $50,400 with a related party who is a member of the Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before February 14, 2021. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0035 per share. This note is currently in default due to non payment of principal and interest.
In December of 2020, the Company extended the term of previous agreements with four individuals to continue serving as members of the Company’s Board of Directors. Two of the individuals are related to the Company’s CEO. Under the agreement, the Directors agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company’s business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company’s operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The previous agreement also terminates automatically upon the death, resignation or removal of the Directors. Under the terms of the agreement, the Company agreed to compensate the Board members via payment of 5,000,000 restricted shares of its common stock each, an aggregate total of 20,000,000 shares, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individuals for preapproved expenses.
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