XML 19 R9.htm IDEA: XBRL DOCUMENT v3.19.1
Note 4 - Common Stock
 3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
4.
Common Stock.
The shareholders have authorized
100,000,000
shares of voting common shares for issuance. On
March 31, 2019,
a total of
47,989,122
shares of common stock were either issued (
39,568,524
), reserved for conversion of convertible debt to stock (
2,627,305
), issuance to
two
Company officers as compensation (
75,462
),
one
Company employee (
4,043
), held for future issue to prepaid private placement investments (
300,000
), held for future compensation issue to a consultant (
16,171
), held for future exercise of nonqualified options (
3,995,000
), qualified stock options (
950,000
), and warrants (
452,617
). The
300,000
share reservation was generated by the receipt of
$56,225
for investment in Private Placement Offering
2016
-
2
in
November 2017.
The investment is listed as “Pending” since the Executed Private Placement Memorandum and Subscription documents have
not
yet been received.
 
In
February 2019,
the Company issued
200,000
shares of common stock at
$0.25
per share to a private placement investor through the
2016
-
3
Private Placement Offering. Also in
February 2019,
the Company issued
24,000
shares of common stock as payment for the
fourth
quarter
2018
stock compensation grant for a consultant. On
March 26, 2019,
the Company issued
115,000
shares of common stock at
$.25
per share representing aggregate payment of a finder’s fee in the amount of
$28,750.
Effective
March 31, 2019,
the Company issued
100,000
shares to Dr. Stephen T. Chen, Chairman, CEO, President, and CFO, and
12,000
shares to Bernard Cohen, Vice President; both distributions were compensation.
 
We have
not
paid any dividends to our common stock shareholders to date, and have
no
plans to do so in the immediate future.