Note 2 - Liquidity and Basis of Presentation	6 Months Ended
Jun. 30, 2018
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 six months ended June 30, 2018, the Company’s net loss was $12,395,021 and cash used in operating activities was $1,125,686. As of June 30, 2018, the Company had current assets of $536,694 and current liabilities of $1,202,880 of which $338,741 was accrued PIK Note interest likely to be paid in additional PIK Notes. The Company’s current liabilities also include (i) $63,537 of accrued management bonus payable as determined by the Company’s Audit Committee, (ii) $59,810 of a note payable related to the financing of the Company’s D&O and G/L policies, (iii) $159,310 of payables to a compounder for which it has agreed to satisfy in halloysite product and (iv) $156,200 of disputed accrued expenses for which the Company believes it has a statute of limitations defense. Based on the Company’s current cash usage expectations, management believes it will not have sufficient liquidity to fund its operations through August 20, 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. Management believes that in order for the Company to meet its obligations arising from normal business operations through August 20, 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.

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

six

months ended

June 30, 2018,

the Company’s net loss was

$12,395,021

and cash used in operating activities was

$1,125,686.

As of

June 30, 2018,

the Company had current assets of

$536,694

and current liabilities of

$1,202,880

of which

$338,741

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

$63,537

of accrued management bonus payable as determined by the Company’s Audit Committee, (ii)

$59,810

of a note payable related to the financing of the Company’s D&O and G/L policies, (iii)

$159,310

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

$156,200

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

Based on the Company’s current cash usage expectations, management believes it will

not

have sufficient liquidity to fund its operations through

August 20, 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.

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

August 20, 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.