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Note 6 - Common Stock
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
6.
Common Stock
 
The Company has
100,000,000
shares of voting common shares authorized for issuance. As of
December 31, 2017,
a total of
38,823,759
shares of common stock were either outstanding (
23,153,563
) or reserved for issuance upon quarterly distribution of the compensation stock grant, private placement investments, exercise of options
1
or convertible debt (
15,667,196
).
 
During the
first
quarter of
2017,
the Company sold
270,000
shares of common stock at
$.1875
per share for proceeds of
$50,625.
No
stock was sold during the
second
quarter of
2017.
During
third
quarter of
2017,
the Company sold
500,000
shares of common stock at
$.1875
per share for aggregate proceeds of
$93,750.
One of the investors was ABI Chairman, CEO, and President Dr. Stephen T. Chen purchasing
200,000
common shares at
$.1875
per share for total proceeds of
$37,500.
 
On
January 3, 2017,
Stephen T. Chen, CEO, and Bernard Cohen, CFO/VP, received
145,405
shares of common stock and
19,387
shares of common stock, respectively, as payment of a
2016
stock bonus totaling
$42,500.
The stock was issued at a price of
$.2579
per share pursuant to the Board of Directors resolution of
December 20, 2016.
The shares are recognized as stock compensation expense for the period ended
December 31, 2016.
 
On
April 7, 2017,
Stephen T. Chen, CEO, and Bernard Cohen, CFO/VP, received
76,095
shares of common stock and
10,146
shares of common stock, respectively, as payment of a
Q1
2017
stock bonus totaling
$21,250.
The stock was issued at a price of
$.2464
per share. The shares are recognized as stock compensation expense for the quarter ended
March 31, 2017.
 
On
July 7, 2017,
Stephen T. Chen, CEO, and Bernard Cohen, CFO/VP, received
74,552
shares of common stock and
9,940
shares of common stock, respectively, as payment of a
Q2
2017
stock bonus totaling
$21,250.
The stock was issued at a price of
$.2515
per share. The shares are recognized as stock compensation expense for the quarter ended
June 30, 2017.
 
1
Currently there are
no
options outstanding.
On
October 6, 2017,
Stephen T. Chen, CEO, and Bernard Cohen, CFO/VP, received
68,731
shares of common stock and
9,164
shares of common stock, respectively, as payment of a
Q3
2017
stock bonus totaling
$21,250.
The stock was issued at a price of
$.2728
per share. The shares are recognized as stock compensation expense for the quarter ended
September 30, 2017.
 
On
August 1, 2017,
57,000
common shares were issued at of
$.1875
per share representing payment of aggregate finders’ fees in the amount of
$10,688.
 
On
September 9, 2017,
the Company entered into a subscription agreement to sell
7,579,059
shares at
$0.1875
per share in return for a total purchase price of
$1,421,074.
The Company accepted a
10%
deposit of
$142,107
(
757,904
shares) which was recorded on the balance sheet as Stock Subscription Deposit. The balance of the investment,
$1,278,967,
was received on or about
December 14, 2017.
The Company was notified that the shares were to be issued pursuant to a list of shareholders to be furnished by the subscriber. The list was received subsequent to the balance sheet date, but
not
timely enough to issue the shares. The shares will be issued on or about
April 25, 2018.
Although the shares have
not
been issued, the investment is included in Equity for the year ended
December 31, 2017,
insomuch as the executed subscription and funds were received in
2017.
 
On
November 23, 2017,
$56,225
was received by the Company representing the net amount of a private placement investment in ABI Common Stock at
$.1875
per share.  The total investment was to be
$56,250,
but there was an international wire fee of
$25
charged by the Company’s bank.  So that the investor would
not
be penalized, he will receive the total number of shares,
300,000
for his investment.  The executed subscription has
not
yet been received by the Company resulting in the cash transfer to be reflected on the
December 31, 2017
balance sheet as a liability, “Prepayment of Private Placement”. The investment will be moved to equity upon receiving the executed subscription agreement and issuing the stock.
 
During the time period of
December 14, 2017
through
December 26, 2017,
funds in the amount of
$721,033
were received by the Company. The funds were for a future investment in ABI Common Stock at
$.25
per share. The subscription for the
2,884,132
shares has
not
yet been received. The funds were treated as a liability, “Prepayment of Private Placement”, on the
December 31, 2017,
balance sheet. The funds will
not
be moved to Equity until the investment is consummated and the shares issued.
 
During
2016,
the Company received
$187,500
from Stephen T. Chen for a private placement.  The funds were reflected as a liability on the
December 31, 2016
balance sheet, Advances from Investors, because the executed subscription had
not
been received. During
2017,
the executed documents were received and the funds were transferred to equity as a stock subscription.  On
February 2, 2018,
1,000,000
shares were issued at
$.1875
to Stephen T. Chen.
 
On
October 26, 2017,
the Board of Directors unanimously approved a Consent Resolution authorizing the Company to amend the Private Placement
2016
-
2
offering to be extended through
April 26, 2018
and to offer an additional
5,000,000
shares at a price of
$.1875
per share. This amendment increased the aggregate offering amount to
$2,812,500.
On
October 31, 2017,
the Company filed the requisite Form D disclosing the amendment.
 
Subsequent to
December 31, 2017,
on
January 9, 2018,
Stephen T. Chen, CEO, and Bernard Cohen, CFO/VP, received
79,499
shares of common stock and
10,199
shares of common stock, respectively, as payment of a
fourth
quarter
2017
stock bonus totaling
$21,250.
  The stock was issued at a price of
$.2451
per share. The shares were recognized as stock compensation expense for the quarter ended
December 31, 2017.