Note 8 - New Accounting Pronouncements

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Note

8

– NEW ACCOUNTING PRONOUNCEMENTS

On

January 

1,

2019,

the Company adopted ASU

No.

2016

-

02,

Leases

. The Company currently has

no

significant capital or operating leases. The new guidance is

not

applicable for leases with a term of

12

months or less, nor is it applicable for oil and gas leases. The Company’s building lease is a month to month contract. The new guidance does

not

have any impact on the Company’s financial position, results of operations or cash flows.

See the “New Accounting Pronouncements” disclosures on page

26

of the

2018

Form

10

-K. There were

no

other accounting pronouncements issued or that have become effective since

December 

31,

2018.