I'm glad we can afford to pay all these people for their hard work and expertise...
Parties can be entities or individuals and are related if either party has the ability, directly or indirectly, to control or exercise
significant influence over the other party in making financial and operational decisions.
Entities and individuals are also considered to be related if they are subject to the common control or significant influence of another party.
The following related party transactions occurred during the Nine Months ended August 31, 2023, and 2022:
The Company’s chief executive officer earned a salary of $139,808 and $113,846, respectively, for the Nine Months ended August 31, 2023, and 2022.
The Company’s chief financial officer earned a salary of $119,615 and $95,385, respectively, for the Nine Months ended August 31, 2023, and 2022.
The Company entered into a consulting agreement with Paul Riss, former Director and Chief Executive Officer of the Company,
upon closing of the aforementioned Securities Exchange Agreement. The company has paid a total of $9,000 and $30,000 as
of August 31, 2023 and August 31, 2022, respectively. Accounts payable were $99,000 and $54,000 as of August 31, 2023
and August 31, 2022, respectively.
The immediate family of the Company’s Chief Financial & Operating Officer entered into a consulting agreement in September
2021 with the Company for a term of sixteen months at the rate of $2,500 per month. The Company has paid a total of $25,500
and $5,000 for the Nine Months ended August 31, 2023 and August 31, 2022, respectively. Accounts payable were $0 and
$25,500 as of August 31, 2023 and August 31, 2022, respectively.
The Company paid consulting fees to certain shareholders of the Company that amounted to $10,000 and $26,500 for the Nine Months
ended August 31, 2023 and August 31, 2022, respectively. Accounts payable to these shareholders was $105,000 and $105,000 as of
August 31, 2023 and August 31, 2022, respectively
