Note 11 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE

11

– COMMITMENTS AND CONTINGENCIES

Effective

November 1, 2018,

the Company entered into an employment contract with the President and CFO of the Company. The President will receive an annual salary of

$120,000,

increasing

10%

per year for

five

years. In addition, the employee will receive

$750

per month for health insurance, will receive a year-end bonus of

25,000

shares of the Company stock and will receive a

.03125%

overriding royalty interest in each future producing well. As of

December 31, 2020

and

2019,

the Company had

$212,985

and

$185,537

accrued related to this contract, respectively.

On

July 6, 2020,

Premier filed a mechanic's lien against the interests of Pure, ZQH and the Company in the Project, alleging past unpaid invoices on the part of ZQH and Pure and also alleging that the Company's ownership is

75%

rather than

87.5%.

No

documentation has been provided to Alpha by ZQH, Pure, or Premier of any unpaid invoices. The Company intends to contest the lien vigorously.