Related party transactions |
9 Months Ended |
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Sep. 30, 2021 | |
| Related Party Transactions [Abstract] | |
| Related party transactions |
Note 17 – Related party transactions
On December 15, 2020, WCI received a $20,000 short term loan from an officer of WCI, which is reflected as a related party payable at September 30, 2021 and December 31, 2020.
On March 12, 2021, Mentor received a $100,000 loan from its CEO, which bears interest at 7.8% per annum compounded quarterly and is due upon demand. On June 17, 2021, Mentor received an additional $100,000 loan from its CEO with the same terms as the previous loan. The loan from the related party and accrued interest of $6,442 is reflected as a long-term liability at September 30, 2021. For the three months ended September 30, 2021 and 2020, the interest expense on the long-term loan from the related party was $4,006 and $0 respectively. For the nine months ended September 30, 2021 and 2020, the interest expense on the long-term loan from the related party was $6,442 and $0 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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