Note 11 - Concentration Risk

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

11.

CONCENTRATION RISK

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company place

s its cash with high credit quality financial institutions in the United States and Armenia.  Bank deposits in the United States did

not

exceed federally insured limits as of

June 30, 2017

and

December 31, 2016.  

As of

June 30, 2017

and

December 31, 2016,

the Company had

$34,716

and

$73,327,

respectively, in Armenian bank deposits which

may

not

be insured. The Company has

not

experienced any losses in such accounts through

June 30, 2017

and as of the date of this filing.

The majority of

the Company's present activities are in Armenia. As with all types of international business operations, currency fluctuations, exchange controls, restrictions on foreign investment, changes to tax regimes, political action and political instability could impair the value of the Company's investments.