Note 10 - Subsequent Events

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

10

– SUBSEQUENT EVENTS

Related Party Transactions

On

July 15, 2019,

Dr. Schwartz advanced an additional

$25,000

to the Company. The advance is being consolidated with the

two

previous advances from

May 2019

and

June 2019.

The

three

advances earn

8%

interest and are due on

September 13, 2019.

Private Placement Funding

On

June 13, 2019,

the Company initiated a Series E convertible preferred stock private placement (see Note

4

). Prior to quarter end the Company received

$776,000

in net proceeds. Subsequent to the quarter’s end the Company has received an additional

$1,238,800

in net proceeds. The private placement is ongoing and more funds are expected capping at

$3,500,000

in gross proceeds.

Skyline Restructuring

In

July 2019,

the Company reduced its employed staff in the Skyline Medical division by

ten

people. As a result, severance pay recorded was

$300,673.

The majority of that amount,

$247,500,

is due to

one

individual who has accepted severance payments in

24

equal installments paid bi-monthly over the course of the next

twelve

months.

The Company continues to operate, both selling and maintaining, the STREAMWAY System and its disposable cleaning solution and bi-furcated filters.