Note 8 - Accounts Payable and Accrued Expenses

3 Months Ended

Mar. 31, 2018

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses included the following:

	December		March
		31, 2017		31, 2018
Accounts payable and accrued expenses	$	173,357	$	273,817
Accrued interest		50,748		77,183
Total accounts payable and accrued expenses	$	224,105	$	351,000

Issuance of Common Stock in exchange for payment of payables

Payment of Officer Salaries

March 31, 2018,

we issued

323,030

shares of our common stock at

$0.26

per share in lieu of

$83,665

of accrued and unpaid obligations to

two

of our officers. The price-per-share was based on the closing price of our common stock on the last day of the month.

Payment of Consultant Fees and Accrued Interest

During the

three

months ended

March 31, 2018,

we issued

391,406

shares of our common stock, at prices ranging between

$0.26

$0.41

per share, in lieu of

$112,388

of accrued and unpaid obligations to consultants.

During the

three

months ended

March 31, 2017,

we issued

144,545

shares of our common stock, at prices ranging between

$0.50

$0.70,

in lieu of

$82,480

of accrued and unpaid obligations to consultants.

During the

three

months ended

March 31, 2018,

we issued

617,072

shares of our common stock, at

$0.25

per share, in lieu of accrued interest totaling

$165,067.

During the

three

months ended

March 31, 2017,

we issued

310,404

shares of our common stock, at prices ranging between,

$0.53

$0.70

per share, in lieu of accrued interest totaling

$178,929.

All of these offerings and sales were made in reliance on the exemption from registration contained in Section

(

) of the Securities Exchange Act and/or Regulation D promulgated thereunder as

not

involving a public offering of securities.