Related Party Transactions |
12 Months Ended |
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Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions |
Note 8 – Related Party Transactions
We have not been a party to any transaction or arrangement in which the amount involved in the transaction exceeded 1% of the average of our total assets at December 31, 2023 and 2022 and in which any of our directors, executive officers or, to our knowledge, beneficial owners of more than 5% of any class of our voting securities or any member of the immediate family of any of the foregoing persons had or will have a direct or indirect material interest.
On November 19, 2020, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, purchased a convertible note in the principal amount of $50,000 convertible for $50,000 in consideration. The convertible note was converted into common stock and preferred shares on September 28, 2022 and the note is now retired.
On March 16, 2021, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, acquired 25,000. shares of Common Stock at $ per share for a subscription in the amount of $
On January 7, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, acquired 50,000. shares of Common Stock at $ per share for a subscription in the amount of $
On July 7, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, acquired 50,000. shares of Common Stock at $ per share for a subscription in the amount of $
On September 27, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, acquired 100,000. shares of our Series A Preferred Stock at $ per share for a subscription in the amount of $
On September 28, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, exchanged convertible debt in the amount of $37,887.16 in principal and accrued interest for shares of Series A Preferred Stock.
On September 28, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, acquired 18,660.88 in principal and accrued interest. shares of Common Stock for the conversion of debt in the amount of $
On June 29, 2022, Robert Steele, our Chief Executive Officer and a Director, sold 30,000.00 in a private transaction to an accredited investor. shares of Common Stock for $
On November 18, 2022, the Company entered into a Media Relations Services Agreement (the “Media Relations Services Agreement”) with Elev8 New Media, LLC (“Elev8”), of which one of our directors, Robert Haag, is a member. Under the terms of the agreement, the Company will pay Elev8 $6,500 per month for six months and the Media Relations Services Agreement will automatically renew into consecutive monthly periods unless either party provides 30 days written notice of cancellation. This price is a discounted rate off Elev8’s normal monthly price of $9,500 per month. In addition to the monthly fee, through November 30, 2023, the Company has paid Elev8 an aggregate of $25,000 for a social media marketing campaign and an aggregate of $15,000 for marketing aimed at garnering more advertisers and users for its AdTech platform and mobile app, with an additional objective to increase the number of followers for the Company’s social media accounts. The vast majority of the funds paid to Elev8 for the social media campaign and marketing plan were spent with Meta, Google and other social media companies. Thumzup suspended the Media Relations Agreement with Elev8 on October 31, 2023.
On December 15, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, received a dividend of shares of Series A Preferred Stock, per the terms of its Certificate of Designation.
On December 30, 2022, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, acquired 50,000. shares of our Series A Preferred Stock at $ per share for a subscription in the amount of $
On February 22, 2023, Daniel Lupinelli, a 10%+ shareholder of the Company, subscribed to purchase 1,003.50 under the Company’s qualified offering under Regulation A+. The subscription is currently in escrow. shares of common stock at $ per share for a subscription amount of $
On February 28, 2023, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, subscribed to purchase 50,175 under the Company’s qualified offering under Regulation A+. Westside Strategic Partners, LLC will receive shares of common stock as bonus shares under the terms of the qualified offering under Regulation A+. The subscription is currently in escrow. (Pacific stock shows as issued.) shares of common stock at $ per share for a subscription amount of $
On March 15, 2023, Westside Strategic Partners, LLC, of which one of our Directors, Robert Haag, is the Managing Member and sole owner, received a dividend of shares of Series A Preferred Stock, per the terms of its Certificate of Designation.
On June 27, 2023, Westside subscribed to purchase 50,130 under the Company’s qualified offering under Regulation A+. Westside Strategic Partners, LLC received shares of common stock as bonus shares under the terms of the qualified offering under Regulation A+. The subscription closed on June 29, 2023. shares of common stock at $ per share for a subscription amount of $
On September 2, 2023, Westside entered into certain Waiver Agreements with the Company pursuant to which Westside was issued an aggregate of and shares of common and Series A Preferred stock, respectively, for the waiver of liquidated damages due under Registration Rights Agreements for failing to file and maintain a registration statement covering the shares.
On September 15, 2023, Westside received a dividend of shares of Series A Preferred Stock, per the terms of the Company’s Certificate of Designation.
On December 4, 2023, Westside entered into a Promissory Note with the Company for $30,000 (“Westside Note”). The Westside Note carried an interest rate of 0% and matured on December 8, 2023. The Company repaid the Westside Note in full on December 5, 2023 for $30,000. The Westside Note is retired.
On December 15, 2023, Westside received a dividend of shares of Series A Preferred Stock, per the terms of the Company’s Certificate of Designation.
On March 14, 2024, Westside acquired 50,000. shares of our Series B Preferred Stock at $ per share for a subscription in the amount of $
On March 15, 2024, Westside received a dividend of shares of Series A Preferred Stock, per the terms of the Company’s Certificate of Designation.
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