Note 12 - Commitments and Contingencies	12 Months Ended
Dec. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 2 . Commitments and Contingencies Lease commitment Our executive and administrative offices are located at 4134 Business Park Drive, Amarillo, Texas in an 1,800 square-foot leased facility. The lease term, which is a semi-annual renewal, begins on January 1 of the calendar year and expires on June 30 of the calendar year. The lease automatically renews on July 1 of the calendar year if termination notice is not given to lessor. The rent in effect on December 31, 2019 was $1,200 per month. The renewed lease for the period January 1, 2020 through June 30, 2020 has rent of $1,265 per month, $7,590 for the six -month lease period. The monthly lease for a similar size office in Taiwan was $2,548 per month or $30,579 annually. Litigation The Company is not a party to any litigation and is not aware of any pending litigation or unasserted claims or assessments as of December 31, 2019. Officer Compensation On March 28, 2018, the Company entered into employment contracts with Stephen T Chen, the Company’s President and CEO; and with Bernard Cohen, the Company’s Vice-President and CFO. The contracts are identical except for job descriptions, duties and titles, and compensation amounts. The contracts are for a three -year term, subject to earlier termination by the Company for certain acts of Employee constituting illegality or breach of fiduciary duty. Compensation for Dr. Chen is set at $240,000 per annum in cash, payable bi-monthly, and $100,000 per annum payable in shares of the Company’s unregistered, voting common stock. Compensation for Mr. Cohen is set at $70,000 per annum in cash, payable bi-monthly, and $12,000 per annum payable in shares of the Company’s unregistered, voting common stock. Compensation under each contract may be adjusted by the Company in certain cases involving disability of the employee, and the contracts may be terminated by the Company in the event of an employee’s permanent and total disability. Each contract provides that the Employee shall devote his entire productive time, ability, attention and energies to the business of the Company. In addition, the contracts protect the property rights of the Company, including inventions and other intellectual property, trade secrets, and proprietary information. The contracts also prohibit Employees from competing directly or indirectly with the business of the Company or its controlled subsidiaries, both during the term of the contracts, and continuing for a period of three years after termination of the contracts. Employees are permitted, however, to invest without restriction in professionally managed mutual funds, and to purchase and own stock and other securities as long as the affected Employee is not directly or indirectly an affiliate of the issuer of such stock or other securities. Effective January 28, 2019, Dr. Chen assumed the duties, responsibilities, and title of Chief Financial Officer (CFO) of the Company in addition to his existing duties and titles of Chairman of the Board, CEO, and President. On January 28, 2019, Bernard Cohen, relinquished the duties and title of Chief Financial Officer (CFO) and assumed the duties and title of Vice President – Administration.

. Commitments and Contingencies

Lease commitment

Our executive and administrative offices are located at

4134

Business Park Drive, Amarillo, Texas in an

1,800

square-foot leased facility. The lease term, which is a semi-annual renewal, begins on

January 1

of the calendar year and expires on

June 30

of the calendar year. The lease automatically renews on

July 1

of the calendar year if termination notice is

not

given to lessor. The rent in effect on

December 31, 2019

was

$1,200

per month. The renewed lease for the period

January 1, 2020

through

June 30, 2020

has rent of

$1,265

per month,

$7,590

for the

six

-month lease period. The monthly lease for a similar size office in Taiwan was

$2,548

per month or

$30,579

annually.

Litigation

The Company is

not

a party to any litigation and is

not

aware of any pending litigation or unasserted claims or assessments as of

December 31, 2019.

Officer Compensation

March 28, 2018,

the Company entered into employment contracts with Stephen T Chen, the Company’s President and CEO; and with Bernard Cohen, the Company’s Vice-President and CFO. The contracts are identical except for job descriptions, duties and titles, and compensation amounts. The contracts are for a

three

-year term, subject to earlier termination by the Company for certain acts of Employee constituting illegality or breach of fiduciary duty. Compensation for Dr. Chen is set at

$240,000

per annum in cash, payable bi-monthly, and

$100,000

per annum payable in shares of the Company’s unregistered, voting common stock. Compensation for Mr. Cohen is set at

$70,000

per annum in cash, payable bi-monthly, and

$12,000

per annum payable in shares of the Company’s unregistered, voting common stock. Compensation under each contract

may

be adjusted by the Company in certain cases involving disability of the employee, and the contracts

may

be terminated by the Company in the event of an employee’s permanent and total disability.

Each contract provides that the Employee shall devote his entire productive time, ability, attention and energies to the business of the Company. In addition, the contracts protect the property rights of the Company, including inventions and other intellectual property, trade secrets, and proprietary information. The contracts also prohibit Employees from competing directly or indirectly with the business of the Company or its controlled subsidiaries, both during the term of the contracts, and continuing for a period of

three

years after termination of the contracts. Employees are permitted, however, to invest without restriction in professionally managed mutual funds, and to purchase and own stock and other securities as long as the affected Employee is

not

directly or indirectly an affiliate of the issuer of such stock or other securities.

Effective

January 28, 2019,

Dr. Chen assumed the duties, responsibilities, and title of Chief Financial Officer (CFO) of the Company in addition to his existing duties and titles of Chairman of the Board, CEO, and President. On

January 28, 2019,

Bernard Cohen, relinquished the duties and title of Chief Financial Officer (CFO) and assumed the duties and title of Vice President – Administration.