Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 250

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 250
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,900  
    $6,158,065 

    F-12

4-Loans
Payable to Related Parties/Others

 Loans
payable to related parties are summarized as follows:

 Schedule
of Loans Payable to Related Parties

    December 31, 2024 
    December 31, 2023

    Loans payable-Rich Pezzullo 
    $-  
    $24,000 
  
    Loan payable-Dream Homes, LTD 
     4,706  
     122,809 
  
    Loans payable to GPIL 
     657,310  
     376,410 

     4,975  
     - 
  
    Total 
    $666,991  
    $523,219 

Advances
from the loans bear interest at a rate of 12%, with interest being payable on demand.

 Notes
payable - others is summarized as follows:

 Schedule
of Notes Payable - Others

    December
    31, 2024 
    December
    31, 2023

    Note
    payable-Chipman Trust 
    $47,500  
    $122,500 
  
    Note
    payable-LG Funding 
     -  
     15,040 
  
    Note
    payable-MV Development LLC 
     -  
     - 
  
    Note
    payable-Channel Partners 
        
     99,163 
  
    Others 
     (2,893) 

    Total 
    $44,607  
    $236,703 

The
notes have interest ranging from 12% to 15% payable on demand. All notes are secured by real estate.

5
- Common Stock Issuances

In
January 2024,, the Company issued 7,000,000 restricted shares for the forgiveness of loans to General Property Investments LLC., a related
party, for $105,000 in forgiveness of debt.

On
April 24, 2023, the Company issued 4,590,000 restricted common shares for compensation valued at $ 91,800.

6
– Income Taxes

As
a result of the Tax Cuts and Jobs Act (Tax Legislation) enacted on December 22, 2017, the United States corporate income tax rate is
21% effective January 1,