Note 5 - Legal Proceedings

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Legal Matters and Contingencies [Text Block]

Note

5

- Legal Proceedings

The Company

may

be party to certain lawsuits or claims arising in the normal course of business. The ultimate outcome of these matters is unknown but, in the opinion of management, we do

not

believe any of these proceedings will have, individually or in the aggregate, a material adverse effect upon our financial condition, cash flows or future results of operation.

In

July 2017,

God’s Little Gift, Inc. (d\b\a) Helium and Balloons Across America and Gary Page (“Claimants”) filed an action against the Company based on disputed compensation amounts over several years. This action was resolved by mutual agreement between the parties during

January 2019.

Mr. Page received

20,000

shares of CTI common stock,

$5,000

in cash, and a minimum payout in his monthly royalty calculation of

$7,667

beginning

March 1, 2019

and ending

August 1, 2021.

The Company accrued the

$0.3

million in committed costs under this settlement in its

December 31, 2018

financial statements.