Note 6 - Related Party Transactions

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

6.

Related Party Transactions

On

February 2, 2018,

1,000,000

shares were issued at

$0.1875

per share to Dr. Stephen T. Chen, Chairman, CEO, and President, in exchange for

$187,500

of operating funds previously advanced to the Company during the period from

March 18, 2016,

through

April 7, 2016.

On

March 27, 2018,

effective as of

January 1, 2018,

the Board of Directors approved a resolution whereby Dr. Chen's annual compensation was changed to

$240,000

cash per annum and

$100,000

per annum payable in the Company's unregistered, voting common stock. The Board also approved a change in compensation to Bernard Cohen to

$70,000

cash per annum and

$12,000

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 monthpreceding 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 year ended

December 31, 2018,

the Company has issued an aggregate of

86,698

shares of common stock valued at

$21,250

as payment for the

fourth

quarter

2017

accrual and

364,782

of common stock valued at

$95,000

for the first,

second

and

third

quarters of

2018.

On

July 12, 2018,

Dr. Stephen T. Chen, Chairman, CEO, and President of ABI and CEO of ACTS Global, received

125,852

ABI Restricted Common voting shares as remuneration for his ownership, stockholder interest in ACTS Global pursuant to the purchase of ACTS Global assets by ABI. Dr. Chen is a related party by virtue of his position as shareholder and CEO of both ACTS Global and ABI.