Replies to post #42532 on Indoor Harvest Corp (INQD)

[KILLAZILLA]

NOTE 7- RELATED PARTY TRANSACTIONS



On February 8, 2022, the Company entered an assets acquisition Letter of Intent (“LOI”) with an entity under common control with the Company. During the nine months ended September 30, 2022, in connection with the LOI, the Company paid advance of $130,000 for acquisition of assets.



During the nine months ended September 30, 2022 and 2021, the Company paid consulting fees of $307,000 and $0, communication and technology services of $95,194 and $0, late charge of $508 and $15,980 to an entity under common control of the Company, respectively.



During the nine months ended September 30, 2022 and 2021, the Company recognized stock option expense for related parties of $2,372,538 and $4,753,205, respectively. The stock option-based compensation recognized in additional paid-in-capital.