Note 8 - Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

8–

STOCKHOLDERS’ EQUITY

Preferred Stock

The Company is authorized to issue

10,000,000

shares of noncumulative, non-voting, nonconvertible preferred stock,

$0.001

par value per share. At

March 31, 2018

and

December 31, 2017,

no

shares of preferred stock were outstanding.

Common Stock

On

December

7,2017,

stockholders of the Company approved to increase the authorized shares of common stock from

250,000,000

to

400,000,000

shares,

$0.001

par value per share. At

March 31, 2018

and

December 31, 2017,

150,388,549

and

140,763,549

shares were issued and outstanding, respectively.

2018

During the

three

months ended

March 31, 2018

the Company (i) issued

1,500,000

shares of common stock at a price of

$0.04

per share to a consultant for investor relation services to be performed, (ii) sold

3,625,000

shares of common stock at a price of

$0.04

per share, (iii) sold

3,000,000

shares of common stock at a price of

$0.05

per share, (iv) sold

1,000,000

shares of common stock at a price of

$0.10

per share and (iii) sold

500,000

shares of common stock at a price of

$0.04

per share upon the exercise of a warrant to purchase shares of common stock.

2017

During

2017,

the Company issued: (i)

250,000

shares of common stock, at a price of

$0.36

per share, to directors; (ii)

26,500,000

units, (

one

unit consisting of

one

share of common stock and

one

warrant to purchase

0.25

shares of common stock at a price of

$0.04

per unit; (iii)

2,275,000

units, at a price of

$0.04

per unit, as payment for fees associated with a private placement of stock and (iv)

3,1250,000

shares of common stock, at a price of

$0.04

per share, upon the exercise of warrants to purchase common stock.