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Note 5 - Common Stock
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
NOTE
5
– COMMON STOCK
 
The Company is authorized to issue up to
10,000,000
shares of
$0.001
par value preferred stock and
65,000,000
shares of
$0.001
par value common stock. The Board of Directors authorized the issuance of up to
2,000,000
share of Series A convertible preferred stock with a par value of
$0.001.
 
On
August 6, 2020
the Board authorized an additional
550,000
shares of common stock for sale at
$1.00
per share bringing the total to
1,300,000
shares.
 
The Company compensates its each director with
4,000
shares of common stock each month. During the years ended
December 31, 2020
and
2019,
the Company issued
208,000
and
192,000
shares of common stock valued at
$208,000
and
$192,000,
respectively, as board of director compensation.
 
The Company pays its CFO a yearly bonus of
25,000
shares of common stock. During the years ended
December 31, 2020
and
2019,
the Company issued
25,000
shares of common stock to the CFO with a fair value of
$25,000.
 
During the years ended
December 31, 2020
and
2019,
the Company sold
75,000
and
228,000
shares of common stock for total proceeds of
$75,000
and
$228,000,
respectively.
 
During the year ended
December 31, 2020,
the Company issued
10,000
shares of common stock with a fair value of
$10,000
for lease acquisition cost for unproved properties.
 
During the year ended
December 31, 2020,
the Company issued
5,000
shares of common stock with a fair value of
$5,000
to settle outstanding accounts payable balance.
 
In
2019,
the Company entered into an agreement with a consultant for corporate finance representation. The consultant received
100,000
shares of common stock valued at
$100,000
for payment.
 
In
2019,
the Company entered into an agreement with a consultant to facilitate growth strategies for the Company. The consultant received
60,000
shares of common stock valued at
$60,000
for payment.