XML 22 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Note 7 - Related Party Transactions
 9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
Note
7:
      Related Party Transactions
 
The Company and Stream Wetlands Services, LLC (“Stream Wetlands”) are parties to an option to lease agreement dated
April 17, 2017 (
the “OTL”). The OTL provides Stream Wetlands an option, exercisable through
February 28, 2021,
to lease certain lands from the Company, subject to the negotiation and execution of a mutually acceptable lease form. Stream Wetlands paid the Registrant
$38,333
upon execution of the OTL, and an additional
$38,333
during the
first
quarter of each year through
2020.
Mr. Stream, a director of the Company and who was appointed as President and Treasurer effective
July 15, 2020,
is also the president of Stream Wetlands.
 
The Company's immediate past President and current Secretary and director is a partner in Stockwell, Sievert, Viccellio, Clements, LLP (“Stockwell”). Beginning in
August 2018,
the Company began renting office space from Stockwell. The Company paid Stockwell
$750
per month as rent for office space and associated services,
$2,000
per month to reimburse the firm for an administrative assistant and reimbursed Stockwell for miscellaneous office supplies and legal expenses. For the
nine
months ended
September 30, 2020,
the Company recorded
$22,407
in total of such expense, of which
$6,000
was rent expense. These expenses were paid through
July 31, 2020
and Stockwell
no
longer provides these services to the Company after
July 31, 2020.
 
Gray Stream is President of Matilda Stream Management (“MSM”). MSM currently provides administrative and accounting services and provides office space to the Company at
no
charge.
 
Surface revenue-related party was
$9,583
and
$28,749
for the
three
and
nine
months ended
September 30, 2020,
respectively.