Note 14 - Related Party Transactions

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

14.

        Related Party Transactions:

The Company has a liability of

$7,207

(

December 31, 2019 -

$33,000

) to a company owned by a current director and officer of the Company for payment of consulting services rendered of

$23,100

(

September 30, 2019 -

$33,000

) by the current director and officer of the Company.

The Company has an asset of

$nil

(

December 31, 2019 -

$9

) to a current director and officer of the Company for expenses incurred.

The Company has a liability of

$nil

(

December 31, 2019 -

$267

) to a current director and officer of the Company for expenses incurred.

The Company has a liability of

$nil

(

December 31, 2019 -

$19,779

) to a company owned by a current director and officer of the Company for payment of consulting services rendered of

$nil

(

September 30, 2019 -

$18,493

) by the current director and officer of the Company.

The Company has a liability of

$5,671

(

December 31, 2019 -

$22,500

) to a company owned by a current director and officer of the Company for payment of consulting services rendered of

$29,381

(

September 30, 2019 -

$22,500

) by the current director and officer of the Company.

The Company has a liability of

$9,951

(

December 31, 2019 -

$30,974

) to a current director and officer of the Company for payroll.

The Company has a liability of

$11,455

(

December 31, 2019 -

$5,500

), to independent directors of the Company for payment of directors' fees. During the quarter ended

September 30, 2020,

the Company accrued

$2,500

(

September 30, 2019 -

$1,000

) to the independent directors in director fees.

The Company has a liability of

$8,168

(

December 31, 2019 -

$91

), to an officer of the Company for payment of consulting services rendered and expenses incurred of

$24,179

(

September 30, 2019 -

$34,085

) by the officer of the Company.

The Company has a liability of

$nil

(

December 31, 2019 -

$nil

), to an officer of the Company for payment of consulting fees and expenses incurred of

$21,187

(

September 30, 2019 -

$28,357

) by the officer of the Company.

In the quarter ended

June 30, 2020,

the Company issued stock options to its directors, employees, and consultants. During the quarter ended

September 30, 2020,

the Company incurred stock-based compensation expense of

$30,555

to related parties from this stock option grant.

The related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related party.