Note 7 - Preferred Stock

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Preferred Stock [Text Block]

7

. Preferred Stock

The shareholders have authorized

10,000,000

shares of preferred stock shares for issuance.

No

Preferred Equity was outstanding as of

December 31, 2017

and

2016

and

none

is outstanding as of the date of this report.

At

December 31, 2016,

$34,279

of unpaid dividends have been accrued on Preferred Equity previously owned by Mr. Paul Tibbits, a stockholder and director. The dividends accrued between the filling dates of the Company’s Chapter

11

Bankruptcy,

October 31, 2013,

and the Effective Date of the Plan of Reorganization,

November 20, 2014.