Note 5 - Notes Receivable

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

5. Notes Receivable

On

June 29, 2017,

the Company loaned

$500,000

to an unaffiliated

third

party with engineering expertise in the electric bus technology industry, with whom the Company

may

seek an alliance at some future date, in order to provide it with working capital. The stated interest rate is

9%

per annum, with interest payments due monthly beginning

July 31, 2017.

The note is secured by the assets of the borrower and matures on

December 31, 2017.

The note was

not

repaid when due on

December 31, 2017,

but has been extended to

June 30, 2018 (

See Note

12

). The Company loaned an additional

$500,000

to another unaffiliated

third

party in the

zero

-emissions technology industry in

December 2016.

This note is subject to monthly interest of

$10,000

and was extended in

January 2018

to

April 30, 2018. (

See Notes

6

and

12

).