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Note 1 - Basis of Presentation and Summary of Significant Accounting Policies
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]
NOTE
1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
The accompanying unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) set forth in Article
8
of Regulation S-
X.
Accordingly, they do
not
include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited interim results are
not
necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the condensed consolidated financial statements of the Company for the year ended
December 31, 2020
and notes thereto.
 
There have been
no
material changes in the Company's significant accounting policies as compared to the significant accounting policies described in the Company's annual report on Form
10
-K for the year ended
December 31, 2020.
 
Loss per Share
 
Net loss per common share is computed pursuant to ASC
260
-
10
-
45.
Basic loss per share is computed based on the weighted average number of common shares outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the diluted weighted average common shares outstanding, which includes the effect of potentially dilutive securities. During periods when there is a net loss, all potentially dilutive shares are anti-dilutive and are excluded from the calculation of net loss per share. Diluted earnings per share is similarly computed except that the denominator includes the effect, using the treasury stock method, of unvested restricted stock and convertible notes, if including such potential shares of common stock is dilutive. For the
three
-months ended
March 31, 2021
and
2020,
the common stock equivalents of the convertible note agreements were
not
included in diluted earnings per share computations because their effect was antidilutive.
 
Recent Developments
 
In
April
of
2021,
the Company's common stock began to be quoted on the OTC Link alternative trading system (operated by OTC Markets Group Inc.) under the trading symbol “CENBF” on the OTC Pink tier. There is
no
assurance that an active trading market for our shares will develop or will be sustained if developed.
 
Recently Adopted Accounting Pronouncements
 
No
pronouncements were adopted by the Company during the
three
-month period ended
March 31, 2021.
 
Recent Accounting Pronouncements
Not
Yet Adopted
 
In
August 2020,
the Financial Accounting Standards Board (“FASB”) issued an accounting pronouncement (ASU
2020
-
06
) related to the measurement and disclosure requirements for convertible instruments and contracts in an entity's own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity's own equity. As a smaller reporting company, as defined by the SEC, this pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after
December 15, 2023.
The Company is currently evaluating the impact of this ASU on the consolidated financial statements.