Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.8.0.1
Related Party Transactions
3 Months Ended
Mar. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

6. Related Party Transactions

 

The Company entered into Consulting Agreements with the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) effective as of January 1, 2018. The CEO will be paid $20,000 per month plus expenses and the CFO will be paid $17,500 per month plus expenses.

 

The two officers performed their executive and financial duties for the Company since March 17, 2017. During the quarter ended March 31, 2018, the CEO and CFO were paid $65,000 and $47,500, respectively.

 

On March 9, 2018, the Company entered into a consulting agreement effective January 1, 2018 with Peach Management LLC (“Peach”), pursuant to which Peach shall provide certain consulting services relating to the execution of the Company’s business plan. In consideration of Peach’s services, the Company agrees to pay to Peach an amount of $10,000 per month, payable in accordance with the Company’s standard practices. On March 12, 2018 the Board of Directors increased the amount payable monthly to $25,000 to Peach.

 

During the quarter ended March 31, 2018, Peach was paid $65,000.