Note 2 - Liquidity and Basis of Presentation	12 Months Ended
Dec. 31, 2017
Notes to Financial Statements
Liquidity [Text Block]	NOTE 2 - LIQUIDITY AND BASIS OF PRESENTATION The Company has a history of recurring losses from operations and the use of cash in operating activities. For the twelve months ended December 31, 2017, the Company’s net loss was $14,910,659 and cash used in operating activities was $2,108,388. As of December 31, 2017, the Company had current assets of $280,839 and current liabilities of $1,233,077 of which $57,334 was accrued PIK Note interest to be paid in additional PIK Notes. The Company’s current liabilities also include approximately (i) $204,700 of accrued management bonus payments, which management may choose to take in the form of shares of common stock or options to purchase shares of common depending on the Company’s ability to pay the bonuses in cash as determined by the Company’s Audit Committee, (ii) $158,700 of payables to a compounder for which it has agreed to satisfy in halloysite product, (iii) $156,200 of disputed accrued expenses for which the Company believes it has a statute of limitations defense, and (iv) $15,000 of director expense accrual that will be paid in equity. Management believes that in order for the Company to meet its obligations arising from normal business operations through April 17, 2019 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, management believes it will not have sufficient liquidity to fund its operations through April 17, 2019. 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 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 Company has a history of recurring losses from operations and the use of cash in operating activities. For the

twelve

months ended

December 31, 2017,

the Company’s net loss was

$14,910,659

and cash used in operating activities was

$2,108,388.

As of

December 31, 2017,

the Company had current assets of

$280,839

and current liabilities of

$1,233,077

of which

$57,334

was accrued PIK Note interest to be paid in additional PIK Notes. The Company’s current liabilities also include approximately (i)

$204,700

of accrued management bonus payments, which management

may

choose to take in the form of shares of common stock or options to purchase shares of common depending on the Company’s ability to pay the bonuses in cash as determined by the Company’s Audit Committee, (ii)

$158,700

of payables to a compounder for which it has agreed to satisfy in halloysite product, (iii)

$156,200

of disputed accrued expenses for which the Company believes it has a statute of limitations defense, and (iv)

$15,000

of director expense accrual that will be paid in equity.

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

April 17, 2019

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, management believes it will

not

have sufficient liquidity to fund its operations through

April 17, 2019.

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 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.