5. Related Party Transactions
|9 Months Ended|
Sep. 30, 2018
|Related Party Transactions [Abstract]|
|Related Party Transactions||
Note 5 – Related Party Transactions
Revenue generated from Vitashower Corp., a company owned by the CEO, amounted to $10,575 and $6,571 for the nine months ended September 30, 2018 and 2017, respectively, $0 and $0 for the three months ended September 30, 2018 and 2017, respectively. Account receivable balance due from Vitashower Corp. amounted to $19,200 and $564 as of September 30, 2018 and December 31, 2017, respectively.
On May 30, 2018, the CEO and majority shareholder of the Company lent the Company $50,000 for operational use. The loan had no interest and is due upon demand. The loan was repaid on July 12, 2018.
Compensation for services provided by the President and Chief Executive Officer for the nine months ended September 30, 2018 and 2017 amounted to $90,000 and $90,000, respectively and three months ended September 30, 2018 and 2017 amounted to $30,000 and $30,000, respectively.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef