Note 4 - Common Stock

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

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, 2017, a total of 26,661,574 shares of common stock were either issued (22,080,935) or reserved for issuance to an investor (270,000) or conversion of convertible debt to stock (4,310,639).
	On March 10, 2016, the Board of Directors approved the Company to enter into private placements for the sale of up to 5,000,000 shares of the Company’s common stock (Private Placement 2016 - 2) at a price of $.1875 per share (aggregate offering amount of $937,500).
	On September 30, 2016, the Board of Directors approved the Company to amend the previously authorized Private Placement 2016 - 2 offer, sale, and issuance of unregistered securities. The Private Placement 2016 - 2 was amended to offer up to 10,000,000 shares of the Company’s common stock at a price of $.1875 per share for an aggregate offering amount of $1,875,000. The offering is to be completed within one (1) year of the date of approval. During the first quarter of 2017, the Company sold 270,000 shares of common stock at $.1875 per share for proceeds of $50,625.
	On January 3, 2017, Stephen T. Chen, CEO, and Bernard Cohen, CFO/VP, received 145,405 shares of common stock and 19,387 shares of common stock, respectively, as payment of a 2016 stock bonus totaling $42,500. The stock was issued at a price of $.2579 per share pursuant to the Board of Directors resolution of December 20, 2016.
	No stock has been sold subsequent to the balance sheet date of March 31, 2017 and through the issue date of this report.