Note 23 - Subsequent Events

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

2

3

– SUBSEQUENT EVENTS

On

January 27, 2020,

a market maker filed a Form

211

Application with the Financial Industry Regulatory Authority ("FINRA") to request permission to quote and trade the securities of CEN Biotech, Inc. on OTC Markets. However, there can be

no

assurance that FINRA will approve our Form

211

Application. As of

April 14, 2020,

the application has

not

been approved.

On

March 16, 2020,

the Company entered into an amendment to the Share Purchase Agreement dated

August 31, 2016,

and executed

September 12, 2016,

between CEN Biotech, Inc. and Stevan Pokrajac and Tesla Digital Inc. and Tesla Digital Global Group Inc. The new expiration date is

December 31, 2021.

The outbreak of a novel coronavirus (COVID-

19

), which the World Health Organization declared in

March 2020

to be a pandemic, continues to spread throughout the United States of America and the globe. Many State Governors issued temporary Executive Orders that, among other stipulations, effectively prohibit in-person work activities for most industries and businesses, having the effect of suspending or severely curtailing operations. The extent of the ultimate impact of the pandemic on the Company's operational and financial performance will depend on various developments, including the duration and spread of the outbreak, and its impact on potential customers, employees, and vendors, all of which cannot be reasonably predicted at this time. While management reasonably expects the COVID-

19

outbreak to negatively impact the Company's financial condition, operating results, and timing and amounts of cash flows, the related financial consequences and duration are highly uncertain.

Since

December 31, 2019,

the Company has issued

4

new convertible notes totaling

$208,000

convertible to

130,000

common shares.