Note 11 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE

1

1

– COMMITMENTS AND CONTINGENCIES

In the normal course of its agricultural operations, the Company handles, stores, transports and dispenses products identified as hazardous materials. Regulatory agencies periodically conduct inspections and, currently, there are

no

pending claims with respect to hazardous materials.

Pursuant to cost-sharing agreements that have been entered into by participants in the Company’s Water Project,

$750,000

in funds have been received in order to offset costs incurred in the environmental analysis of the Water Project. These funds

may

either be reimbursed or credited to participants participation in the Water Project and, accordingly, are fully reflected as deferred revenue as of

December 31, 2019

and

December 31, 2018.

There are

no

material legal proceedings pending to which the Company is a party or of which any of the Company’s property is the subject.