Note 12 - Related Party Transactions

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note

1

2

:

    Related Party Transactions

The Company and Stream Wetlands Services, LLC (“Stream Wetlands”) are parties to an option to lease agreement dated

April 17, 2017 (

the “OTL”). The OTL provides Stream Wetlands an option, exercisable through

February 28, 2019,

to lease certain lands from the Company, subject to the negotiation and execution of a mutually acceptable lease form. Stream Wetlands paid the Registrant

$38,333

upon execution of the OTL, and an additional

$38,333

during the quarter ended

March 31, 2018.

Stream Wetlands

may

extend the term of the OTL for up to

two

(

2

) successive periods of

twelve

(

12

) months by paying

$38,333

for each

twelve

-month period. Mr. Stream, a director of the Company, is the president of Stream Wetlands.

The Company’s President is a partner in Stockwell, Sievert, Viccellio, Clements, LLP (“Stockwell”). Beginning in

August 2018,

the Company began renting office space from Stockwell. The Company pays Stockwell

$750

per month as rent for office space and associated services,

$2,000

per month to reimburse the firm for an administrative assistant and reimburses Stockwell for miscellaneous office supplies. For the year ended

December 31, 2018,

the Company recorded

$14,920

in total of such expense.

During the years ended

December 31, 2018

and

2017,

the Company incurred rental expenses for office space of

$2,800

and

$4,800,

respectively, payable to the prior president’s accounting firm.

During the year ended

December 31, 2017,

the Company incurred legal expenses of

$12,243

for services provided by the prior president’s spouse’s law firm.