Note 8 - Advances Payable Consolidated Resources

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

8.

ADVANCES PAYABLE CONSOLIDATED RESOURCES

In a

ddition to the

$1,500,000

received under the approved Convertible Notes, as describe in Note

7

above, the Company received additional advances of

$394,244

which it is carrying this as a liability, though the Company contests this liability for fraud and offsetting amounts caused by damage and non performance as well as other reasons.  There is

no

written agreement on these Advances Payable, and the Company has

not

accrued any interest on them accordingly. Refer to Note

14

- Legal Proceedings for the dispute related to outstanding amount payable on convertible note and advance payable and Subsequent Events.