Note 7 - Commitments

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

7.

   Commitments:

The Company leases office facilities in Vancouver, British Columbia, Canada, and The Valley, Anguilla, British West Indies. These office facilities are leased under operating lease agreements. The Canadian operating lease expired on

December 31, 2016,

but unless

30

day notice is given this lease automatically renews on a month to month basis until notice is given. The Anguillan operating lease expired on

April 1, 2011

but unless

3

month's notice is given it automatically renews for a future

3

months until notice is given.

Minimum lease payments under these operating leases are approximately as follows:

2017	$	1,437
2018		-

The Company paid rent expense totaling

$4,614

for the quarter ended

June 30, 2017 (

June 30, 2016 -

$5,628

). 

The Company has a management consulting agreement with T.M. Williams (Row), Inc., an Anguilla incorporated company, and Mr. T. M. Williams. During the year ended

December 31, 2014,

the Company amended a previous agreement with Mr. T. M. Williams to provide for a consultancy payment of

2.5%

of the monthly social bingo business with a minimum of

$11,000

and a maximum of

$25,000

per month.

During the year ended

December 31, 2014,

the Company entered into an agreement with Jayska Consulting Ltd. and Mr. J. M. Williams, Chief Executive Officer of the Company for the provision of services of Mr. J. M. Williams as Chief Executive Officer of the Company. The Consulting agreement provides for a consultancy payment of Pounds Sterling

5,000

per month. In addition, during the year ended

December 31, 2014,

the Company entered into an agreement with LVA Media Inc. and Mr. J. M. Williams, for the provision of services of Mr. J. M. Williams as Chief Executive Officer of the Company. The Consulting agreement provides for a consultancy payment of

2.5%

of the monthly social bingo business with a minimum of

$7,500

and a maximum of

$25,000

per month.

During the year ended

December 31, 2016,

the Company signed a licensing agreement with Paws, Inc. for the license for Garfield's Bingo expiring on

June 30, 2019.

During the quarter ended

June 30, 2017,

the Company signed a licensing agreement with Paws, Inc. for the license of Garfield games in Rooplay expiring on

December 31, 2019.

During the quarter ended

June 30, 2017,

the Company signed a licensing agreement with Bulls Presstjanst AB for the license of Moomin games in Rooplay expiring on

December 31, 2020.

During the quarter ended

June 30, 2017,

the Company signed a licensing agreement with Mister Men Limited for the license of Mr. Men and Little Miss games in Rooplay expiring on

April 15, 2020.

These agreements have commitments to pay royalties on the revenue of the products subject to minimum payments.