Related Party Transactions |
9 Months Ended |
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Sep. 30, 2022 | |
| RELATED PARTY TRANSACTIONS | |
| Related Party Transactions |
NOTE 12 – RELATED PARTY TRANSACTIONS The Company receives consulting services and marketing services from various shareholders and directors. The total cost of these consulting services for the nine months ended September 30, 2022 and 2021 was approximately $158,000 and $170,000, respectively. The total cost of these consulting services for the three months ended September 30, 2022 and 2021 was approximately $44,000 and $30,000, respectively. The total cost of marketing services for the nine months ended September 30, 2022 and 2021 was approximately $565,000 and $335,000, respectively. The total cost of marketing services for the three months ended September 30, 2022 and 2021 was approximately $0 and $107,000, respectively. The accounts payable to these certain shareholders as of September 30, 2022 and December 31, 2021 was approximately $0 and $297,000, respectively, and are included in accounts payable on the accompanying condensed consolidated balance sheets. On December 30, 2020, the Company received an advance from a certain investor for reimbursement of certain expenses. This is recorded as due to related party on the accompanying condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021 in the amount of $3,200 and $3,637, respectively |
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- References No definition available.
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- Definition 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://www.xbrl.org/2003/role/disclosureRef
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