Note 5 - Notes Receivable

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Financing Receivables [Text Block]

NOTE

5

– NOTES RECEIVABLE

The Company has a secured promissory note receivable from CytoBioscience notes for

$1,112,524,

plus interest paid monthly at the per annum rate of (

8%

) on the principal amount. Unpaid principal and unpaid accrued interest on the note are due and payable on

February 28, 2020.

In

2019,

CytoBioscience and its parent company, InventaBioTech, were current on all interest amounts due through

April 2019.

At this time the Company does

not

believe a reserve is needed.

As of

December 31, 2018,

the Company had a principal balance of

$1,165,013,

plus interest of

$39,092,

due from Helomics. In

January

and

February 2019,

the Company advanced Helomics

$305,000.

In

March 2019,

the Company advanced

$420,000

to Helomics and advanced an additional

$250,000

in

April 2019.

The balance to date owed by Helomics is

$2,140,013

plus interest. On the balance sheet there is a reduction to the loan of

$1,190,967

due to the cumulative equity method investments losses incurred from Helomics ownership; see Note

2.

There were

no

further advances to Helomics prior to the completion of the merger. Upon completion of the merger with Helomics all intercompany notes were eliminated; see Note

10.