Note 3 - New Accounting Standards	12 Months Ended
Dec. 31, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 3 – NEW ACCOUNTING STANDARDS Adoption of New Accounting Standards On January 1, 2018, the Company adopted the new revenue recognition standard which requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. The Company is still in its startup phase and is not generating revenues at this time; therefore, this standard has no impact on its consolidated financial statements until revenues are generated. When revenues are generated, the Company will follow the provisions of the new standard. In January 2016, the FASB issued ASU No. 2016 - 01, Recognition and Measurement of Financial Assets and Financial Liabilities, to mainly change the accounting for investments in equity securities and financial liabilities carried at fair value as well as to modify the presentation and disclosure requirements for financial instruments. The ASU is effective for interim and annual periods beginning after December 15, 2017, with early adoption permitted. Adoption of the ASU is retrospective with a cumulative adjustment to retained earnings or accumulated deficit as of the adoption date. The adoption of this pronouncement did not have an impact on the Company’s financial statements. In June 2018, the FASB issued ASU No. 2018 - 07, Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services for nonemployees. The ASU is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. As a result of the early adoption of this pronouncement, the Company measures these nonemployee awards at fair value on the grant date. The adoption of this pronouncement did not have a significant impact on the Company’s financial statements. Accounting Standards Issued but Not Yet Adopted In February 2016, the FASB issued an ASU which requires lessees to recognize lease assets and lease liabilities arising from operating leases on the balance sheet. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018 using a modified retrospective approach, with early adoption permitted. The Company has evaluated the standard to determine the impact of its adoption, using the modified retrospective approach, effective January 1, 2019 on its consolidated financial statements and expects that its operating leases will be recognized as operating lease liabilities and right-of-use assets of approximately $256,000 . The cumulative adjustment to retained earnings is not expected to be significant.

NOTE

– NEW ACCOUNTING STANDARDS

Adoption of New Accounting Standards

January 1, 2018,

the Company adopted the new revenue recognition standard which requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. The Company is still in its startup phase and is

not

generating revenues at this time; therefore, this standard has

impact on its consolidated financial statements until revenues are generated. When revenues are generated, the Company will follow the provisions of the new standard.

January 2016,

the FASB issued ASU

No.

2016

01,

Recognition and Measurement of Financial Assets and Financial Liabilities, to mainly change the accounting for investments in equity securities and financial liabilities carried at fair value as well as to modify the presentation and disclosure requirements for financial instruments. The ASU is effective for interim and annual periods beginning after

December 15, 2017,

with early adoption permitted. Adoption of the ASU is retrospective with a cumulative adjustment to retained earnings or accumulated deficit as of the adoption date. The adoption of this pronouncement did

not

have an impact on the Company’s financial statements.

June 2018,

the FASB issued ASU

No.

2018

07,

Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic

718

to include share-based payment transactions for acquiring goods and services for nonemployees. The ASU is effective for interim and annual periods beginning after

December 15, 2018,

with early adoption permitted. As a result of the early adoption of this pronouncement, the Company measures these nonemployee awards at fair value on the grant date. The adoption of this pronouncement did

not

have a significant impact on the Company’s financial statements.

Accounting Standards Issued but

Not

Yet Adopted

February 2016,

the FASB issued an ASU which requires lessees to recognize lease assets and lease liabilities arising from operating leases on the balance sheet. This ASU is effective for annual and interim reporting periods beginning after

December 15, 2018

using a modified retrospective approach, with early adoption permitted. The Company has evaluated the standard to determine the impact of its adoption, using the modified retrospective approach, effective

January 1, 2019

on its consolidated financial statements and expects that its operating leases will be recognized as operating lease liabilities and right-of-use assets of approximately

$256,000

The cumulative adjustment to retained earnings is

not

expected to be significant.