Note 10 - Warrants

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Warrant Disclosure [Text Block]

10.

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

$0.27

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. 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%.

No

warrants were exercised in

2018

or

2017.