Note 4 - Common Stock

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

4. Common Stock. The shareholders have authorized 100,000,000 shares of voting common shares for issuance. On March 31, 2016, a total of 21,013,057 shares of common stock were either outstanding (20,144,810) or reserved for issuance upon exercise of options (8,568) or conversion of convertible debt to stock (859,679). No common stock was issued in the three months ending March 31, 2016.

During the period ended March 31, 2016, the Company has received $250,000 for the purchase of 1,333,333 shares of common stock from Dr. Stephen T. Chen in connection with a $937,500 Private Placement Common Stock Security Offering. The offering contemplates the sale of a maximum of 5,000,000 shares at a cost of $0.1875 per share. The required SEC Form D was filed on May 6, 2016. As of March 31, 2016, these shares have not been issued.