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Note 5 - Related Party Transactions
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
5.
Related Party
Transactions
 
On
May 23, 2016,
Amarillo Biosciences, Inc. (“ABI”), the Principal, entered into an Agency and Service Agreement with ACTS Global Healthcare, Inc. (“ACTS Global”), a Taiwan Corporation, the Agent. ABI advances funds to ACTS Global to be utilized and /or expended by ACTS Global solely as instructed by ABI.  Additional advances
may
be made by ABI to ACTS Global as necessary.  For their services, ACTS Global, is be paid by ABI,
one
percent (
1%
) of the Principal’s services expended by the Agent at the Principal’s direction. Any other services rendered by the Agent will be paid for by the Principal based on comparable and/or reasonable values of the service rendered.  As of
December 31, 2017,
a balance of
$58,135
is in the ACTS Global account for the benefit of the Company, which is included on the Company Balance Sheet in Advance to Related Party.
 
On
December 20, 2016,
effective
January 1, 2017,
the Board of Directors approved a resolution whereby Dr. Chen's annual compensation was changed to
$90,000
cash per annum and
$75,000
per annum payable in the Company's unregistered, voting common stock.  The Board also approved the change in compensation to Bernard Cohen to
$65,000
cash per annum and
$10,000
per annum payable in the Company's unregistered, voting common stock. The cash compensation is to be paid on the normal payroll cycle of
15th
and
31st
of each month and stock compensation to be paid quarterly.  Shares are to be priced at the average of all trading day closing quotes on the OTC-BB for the month preceding date of issuance, with such shares to be issued on the
first
business day after the close of each calendar quarter or as soon thereafter as practicable.  During the period ended
September 30, 2017,
the Company has issued an aggregate of
535,525
shares of common stock valued at
$122,500.
As of
September 30, 2017,
the Company has accrued
$21,250
in Accounts Payable and Accrued Expenses representing
fourth
quarter shares that have
not
been issued.