Note 3 - Equity Transactions

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

(

3

) EQUITY TRANSACTIONS:

The Company expensed

$31,390

and

$14,190

in employee and board member stock compensation for the

three

months ended

March 31, 2019

and

2018,

respectively. These shares were valued using quoted market values. The Company accrues stock compensation expense over the period earned for employees and board members.

In

April, 2018,

the Company completed a private placement resulting in gross proceeds to the Company of

$2,010,000.

Prior to

March 31, 2018,

the Company received

$74,983

in advance from these investors, which has been recorded as an advance -- private placement in the accompanying statement of cash flows.

As of

March 31, 2019,

the Company had warrants outstanding to purchase

32,192,294

shares of common stock at exercise prices of

$0.25

-

$1.00

per share that expire at various dates through

2025.

 An additional

1,768,147

shares of common stock

may

be issued under warrants outstanding to purchase

480,000

Units sold in the Company’s

May 2016

private placement at an exercise price of

$0.25

per Unit,

164,074

Units sold in the Company’s

February 2017

private placement at an exercise price of

$0.35

per Unit, and

600

Units sold in the Company’s

October 2017

private placement at an exercise price of

$100

per Unit.