Note 14 - Stockholders' Deficit

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

14

– SHAREHOLDERS’ DEFICIT

The Company is authorized to issue an unlimited number of common shares and an unlimited number of special voting shares. Common shares have

no

par value.

Prior to the Spin-off, the Company issued

75

shares of common stock for

$75

cash. On

December 18, 2013,

the Company authorized

6,999,925

shares of common stock for

$7

cash. Initially, all shares of common stock were held by Creative. Creative distributed the shares of CEN common stock on a pro rata basis to the Creative shareholders on

February

29,

2016

at which time CEN became an independent public company. The final number of shares issued was

6,851,843.

In addition, in

December 2014

the Company’s President received

99,286

shares of special voting shares. On

December 11, 2017,

CEN entered into a share repurchase agreement with the Company's President, pursuant to which the Company repurchased from Mr. Chaaban

99,286

shares of special voting stock in the capital of the Company, at a purchase price in the aggregate amount of

$9.93.

Each share of the special voting stock was entitled to

500

votes. Accordingly, all of the special voting stock owned by Mr. Chaaban has been redeemed and retired.

As of

December 31, 2017,

4,718,113

shares of common stock are committed to the holders of the convertible notes.