Note 7 - Stock Options and Stock Warrants

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

STOCK OPTIONS

and STOCK

WARRANTS:

The Company has a stock option plan under which options to purchase shares of common stock

may

be granted to certain officers, directors and service providers.

April 2014,

the Company adopted a new Stock Option Plan (the

“2014

Plan”). The

2014

Plan authorizes the issuance of up to

1,250,000

of the Company's common shares, subject to adjustment under certain circumstances. The Company is listed on the TSX Venture Exchange ("

TSX

") and is subject to a limitation on the number of options a company

may

have. The

2014

Plan provides for the issuance of both incentive stock options and nonqualified options as those terms are defined in the

Internal Revenue Code of

1986

, as amended (the "

Code

").

During the years ended

December 31, 2018

and

2017,

the Company had

options granted, issued, exercised or outstanding.

The following table summarizes information about warrants outstanding at

December 31, 2018.

Year ended

2018

2017

December 31,

Number of

Range of

Number of

Range of

Warrants

Exercise Price

Warrants

Exercise Price

Outstanding at beginning of year

$0.07 (CND)

464,000

$0.07 (CND)

Issued

N/A

Exercised

N/A

Expired

N/A

464,000

N/A

Outstanding at

end of year

N/A

$0.07 (CND)

Warrants issued in

October 2015

have a contractual life of

two

years from date of issuance.