Note 6 - Related Party Transactions

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 6. Related Party Transactions

On

April 17, 2017,

the Company entered into an option to lease agreement (“OTL”) with Stream Wetlands Services, LLC (“Stream”).  Under the terms of the OTL, Stream paid the Company

$38,333

during the quarter ended

March 31, 2018

for an extension of an exclusive right to evaluate and market certain lands owned by the Company to their client for beneficial use purposes to compensate for wetlands impact through

February 28, 2019. 

Stream

may

extend the OTL for up to

two

(

2

) successive periods of

twelve

(

12

) months.  If Stream is chosen to perform their client’s project, the Company has agreed to put forth its best efforts to negotiate and enter into a mutually acceptable lease form.  Due to the uncertainty of the contract award and project scope, we are unable to estimate the potential financial benefit, if any, to the Company.  William Gray Stream, a prior Company Director, is the president of Stream Wetlands Services, LLC.