Note 8 - Warrants

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Warrant Disclosure [Text Block]

8. Warrants .

On

April 15, 2018,

the Company issued a warrant to a consultant for the purchase of

452,617

shares of common stock at an exercise price of

$.27

per share.  The warrant is exercisable through

April 14, 2020. 

The warrant was valued at

$75,967

and will be expensed over

twenty four

months. 

$9,496

of expense was recognized during the

three

months ended

September 30, 2018,

and

$18,269

of expense was recognized during the

nine

months ended

September 30, 2018. 

The Company used the Black-Scholes option pricing model to value the warrants with the following assumptions applied:  (

1

) Volatility –

207%;

(

2

) Term –

2

years (

3

) Discount Rate –

2.39%.