Note 9 - Related Party Transactions

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

9

 – RELATED PARTY TRANSACTIONS

The Company and National Geographic collaborate on exploration, research, technology and conservation in order to provide travel experiences and disseminate geographic knowledge around the globe. The Lindblad/National Geographic alliance is set forth in (i) an Alliance and License Agreement and (ii) a Tour Operator Agreement. The extension of the agreements, entered into

July 2015, 

between the Company and National Geographic was contingent on the execution by Mr. Lindblad of an option agreement granting National Geographic the right to purchase from Mr. Lindblad, for a per share price of

$10.00

per share,

five

percent of the issued and outstanding shares of the Company’s common stock as

July 8, 2015,

including all outstanding options, warrants or other derivative securities (excluding options granted under the

2015

Plan and shares issuable upon the exercise of warrants). During

March 2019,

National Geographic exercised its rights in full under the option agreement to acquire the shares, and in a cashless transaction acquired

891,113

shares from Mr. Lindblad.