Balance Labs Inc
For the period ended Dec 31, 2023. Filed Apr 15, 2024.
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FY2023 · Filed Apr 15, 2024
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Item 11. Executive Compensation
The following summary compensation table sets forth all compensation awarded to, earned by, or paid to the named executive officers and directors paid by us during the years ended December 31, 2023 and December 31, 2022.
SUMMARY COMPENSATION TABLE
| Non- | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Incentive · Non- Qualified · All | |||||||||||||||||
| Name and · Stock · Option · Plan · Deferred · Other | |||||||||||||||||
| Principal · Salary · Bonus · Awards · Awards · Compensation · Compensation · Compensation · Totals | |||||||||||||||||
| Position · Year · ($) · ($) · ($) · ($) · ($) · Earnings ($) · ($) · ($) | |||||||||||||||||
| Michael D. Farkas | 2023 | $30,000 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $30,000 | ||
| President, CEO, Chairman | 2022 | $60,000 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $60,000 | ||
| Ari Feldman | 2023 | $21,000 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $21,000 | ||
| CFO | 2022 | $21,000 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $21,000 | ||
| Carmen Villegas | 2023 | $ | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | ||
| Secretary and Director | 2022 | $ | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | ||
Option Grants Table
There were no individual grants of stock options to purchase our common stock made to the executive officers named in the Summary Compensation Table for the years ended December 31, 2023 and December 31, 2022.
Long-Term Incentive Plan Awards Table
None.
Employment Agreements and Consulting Agreements
Pursuant to certain consulting agreement between Mr. Farkas and the Company, Mr. Farkas is entitled to a monthly consulting service fee of $10,000 per month through September 30, 2025. As of the date hereof, Mr. Farkas has not received any payment for his services provided and such amounts have been accrued.
Other than the above, we currently we do not have an employment agreement in place with our officers and directors.
No retirement, pension, profit sharing, insurance programs, long-term incentive plans or other similar programs have been adopted by us for the benefit of our employees. We may however implement such long-term equity incentive plans in the future.
For the year ended December 31, 2023, no member of the board of directors was paid any compensation for serving on the board.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.