Note 5 - Convertible Notes Payable - Related Party

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Debt Disclosure [Text Block]

5. Convertible Notes Payable – Related Party. As of December 31, 2018, the amount of convertible debt of the Company’s balance sheet was $513,356. This amount consisted of the following convertible promissory notes payable to Dr. Stephen T. Chen, Chairman, CEO, and President, as shown in the table below.

	March 31, 2019		December 31, 2018
Convertible Note payable – related party	$	144,426	$	144,426
Convertible Note payable – related party		262,500		262,500
Convertible Note payable – related party		68,930		106,430
Convertible Notes payable – related party	$	475,856	$	513,356

On

January 30, 2019,

Dr. Chen demanded a partial repayment in the amount of

$37,500.

The repayment reduced the outstanding balance of a convertible promissory note from

$106,430

to

$68,930.

The total balance of the aggregate convertible promissory notes as of

March 31, 2019,

is

$475,856.

Other

Related Party Transactions.

Other than the aforementioned common stock and convertible notes activity, there were

no

related party transactions that occurred during the period from

January 1, 2019

to

March 31, 2019.