Note 2 - Liquidity and Basis of Presentation	12 Months Ended
Dec. 31, 2016
Notes to Financial Statements
Liquidity [Text Block]	NOTE 2 - LIQUIDITY AND BASIS OF PRESENTATION The accompanying consolidated financial statements have been prepared on a going concern basis. The Company has a history of recurring losses from operations and use of cash in operating activities while in the process of developing and commercializing halloysite clay and iron oxide. For the year ended December 31, 2016, the Company’s net loss was $7,639,772 and cash used in operating activities was $2,732,089. As of December 31, 2016, the Company had negative working capital of ($15,036), which takes into account $961,395 of accrued PIK Note interest, which the Company expects to pay in-kind and $156,000 of disputed payables for which the Company believes it has a statute of limitations defense. Management believes that in order for the Company to meet its obligations arising from normal business operations through March 31, 2018 that the Company requires (i) additional capital either in the form of a private placement of common stock or debt and/or (ii) additional sales of its products that will generate sufficient operating profit and cash flows to fund operations. Without additional capital or additional sales of its products, the Company’s ability to continue to operate will be limited. Based on the Company’s current cash usage expectations through March 31, 2018, management believes it will not have sufficient liquidity to fund its operations through March 31, 2018. Further, management cannot provide any assurance that it is probable that the Company will be successful in accomplishing any of its plans to raise debt or equity financing or generate significant additional product sales. Collectively, these factors raise substantial doubt regarding the Company’s ability to continue as going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded assets amounts and classification of liabilities that might be necessary should the Company not be able to continue as a going concern.

NOTE

- LIQUIDITY AND BASIS OF PRESENTATION

The accompanying consolidated financial statements have been prepared on a going concern basis. The Company has a history of recurring losses from operations and use of cash in operating activities while in the process of developing and commercializing halloysite clay and iron oxide. For the year ended

December

31,

2016,

the Company’s net loss was

$7,639,772

and cash used in operating activities was

$2,732,089.

As of

December

31,

2016,

the Company had negative working capital of

($15,036),

which takes into account

$961,395

of accrued PIK Note interest, which the Company expects to pay in-kind and

$156,000

of disputed payables for which the Company believes it has a statute of limitations defense.

Management believes that in order for the Company to meet its obligations arising from normal business operations through

March

31,

2018

that the Company requires (i) additional capital either in the form of a private placement of common stock or debt and/or (ii) additional sales of its products that will generate sufficient operating profit and cash flows to fund operations. Without additional capital or additional sales of its products, the Company’s ability to continue to operate will be limited.

Based on the Company’s current cash usage expectations through

March

31,

2018,

management believes it will not have sufficient liquidity to fund its operations through

March

31,

2018.

Further, management cannot provide any assurance that it is probable that the Company will be successful in accomplishing any of its plans to raise debt or equity financing or generate significant additional product sales. Collectively, these factors raise substantial doubt regarding the Company’s ability to continue as going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded assets amounts and classification of liabilities that might be necessary should the Company not be able to continue as a going concern.