Note 7 - Common Stock

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

7.

Common Stock

The Company has

100,000,000

shares of voting common shares authorized for issuance. As of

December 31, 2018

a total of

47,973,355

shares of common stock were either outstanding (

39,117,524

) or reserved for issuance upon quarterly distribution of the compensation stock grants, private placement investments, exercise of options and warrants or convertible debt (

8,855,831

).

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.

The shares are recognized as stock compensation expense for the period ended

December 31, 2016.

During

2017,

the Company issued

413,420

shares of common stock for compensation of

$106,250.

During

2017,

the Company sold

770,000

shares of common stock for proceeds of

$144,357.

 One of the investors was ABI Chairman, CEO, and President, Stephen T. Chen, Ph.D. purchasing

200,000

common shares at

$.1875

per share for total proceeds of

$37,500.

On

August 1, 2017,

57,000

common shares were issued at of

$.1875

per share representing payment of aggregate finders' fees in the amount of

$10,688.

During

2017,

the Company entered into a subscription agreements to sell

8,579,061

shares at

$0.1875

per share in return for a total purchase price of

$1,608,574.

  These shares were issued during

2018.

During

2018,

3,740,973

shares of common stock were issued to investors for net proceeds of

$721,035

which were received in

2017

and included in advances from investors in the

2017

balance sheet. 

During

2018,

the Company issued

1,700,000

shares of common stock to investors for net proceeds of

$401,250.

During

2018,

the Company issued

451,480

shares of common stock for compensation of

$116,250.

On

April 1, 2018,

Dr. Chen converted

$178,125

of convertible notes payable for

950,000

common shares.  The stock was issued at a price of

$.1875

per share as stated in the Note.

Effective

July 1, 2018,

the Company acquired all of the voting interests of ACTS in exchange for

539,447

shares of ABI Restricted Common Voting Stock.