Note 6 - Advances to CEN Biotech Ukraine and Loan Receivable from Emergence Global

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Advances to Related Party [Text Block]

NOTE

6

–

ADVANCES TO CEN BIOTECH UKRAINE AND LOAN RECEIVABLE FROM EMERGENCE GLOBAL

On

December 21, 2020,

the Company entered into a loan agreement with Emergence Global Enterprises Inc. (Emergence Global), a related party, (see Note

14

) and advanced funds of

$17,901.

The loan was made for the purpose of funding the operations of Emergence Global. The loan is unsecured, non-interest bearing, and is due on

December 31, 2021.

At

December 31, 2020

and

2019,

the Company had advances of

$1,079,328

and

$1,065,328

respectively, to CEN Biotech Ukraine, LLC, a related party, (see Note

14

). The advances were for the purpose of funding the operations of CEN Biotech Ukraine, LLC and are unsecured, non-interest bearing, and are due on demand.