Note 10 - Related Party Transactions

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

10

– RELATED PARTY TRANSACTIONS

The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company

may

be a party prior to their implementation, to assess whether such transactions meet applicable legal requirements.

One of the Company’s directors, Richard L. Gabriel, is the Chief Operating Officer and serves as a director of GLG Pharma (“GLG”). The Company and GLG have a partnership agreement for the purpose of bringing together their proprietary technologies to build out personalized medicine platform for the diagnosis and treatment of women’s cancer. There has been

no

revenue or expenses generated by this partnership to date.

Richard L. Gabriel is also contracted as the Chief Operating Officer for TumorGenesis. Through

April 1, 2019,

Mr. Gabriel received

$12,000

per month pursuant to a renewable

six

-month contract. On

May 1, 2019,

Mr. Gabriel executed a

one

-year contract with renewable

three

-month periods to continue as the Chief Operating Officer for TumorGenesis, receiving

$13,500

in monthly cash payments.

Dr. Carl Schwartz, the Company’s CEO, made loans to the Company in exchange for promissory notes and common stock. See

Note

6

– Notes Payable

for detailed description of these arrangements.