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Note 12 - Subsequent Events
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
12
– SUBSEQUENT EVENTS
 
On
January 22, 2021,
the Company entered into a consulting agreement with Kelloff Oil & Gas, LLC to engage Joe H. Kelloff as Senior Vice President of Engineering and Development. The contract is month to month at a rate of
$15,000
per month.
 
The Company, Pure, and ZQH have entered into various Extension Agreements, the current
one
of which is dated
March
28th,
2021.
The Extension Agreement prevents Pure and ZQH from taking stock rather than cash through
June 1, 2021,
in return for which Company makes a monthly interest payment to ZQH and Pure of
ten thousand eighty-three
dollars (
$10,083
), which represents a
10%
annual interest on the Purchase Price, compounded monthly. The Extension Agreement allows the Company to extend that period beyond
June 1, 2021
under similar terms.
 
Since
December 2020,
the Company and Progressive have entered into various Extension Agreements, the current
one
being dated
March
25th,
2021.
The Extension Agreement extends the period by which Closing must occur through
June 1, 2021,
in return for which the Company makes a monthly payment of
ten thousand
dollars (
$10,000
), which sum is to be applied toward the Project Payment.
 
On
March 3, 2021,
the Company amended the agreement with Kadence Petroleum, LLC, until
May 1, 2021,
with a
$10,000
monthly payment in
January
through
April 2021.
 
On
March 5, 2021,
the Company entered into an amended agreement with Joe Gregory, the Companies agent in Oklahoma. The agreement is to remunerate the agent for accrued billings through
December 2020.
The total billings were
$230,249.54.
The Company remunerated with
90,000
shares of common stock valued at
$1.00
per share and a cash payment of
$10,000.
On completion of the Company securing Equity Funding, the Agent will be paid an additional
$30,000
in cash and the bill will be satisfied.