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Note 6 - Related Party Transactions
 3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
Note
6:
 
 
 
Related Party Transactions
 
The Company and Stream Wetlands Services, LLC (“Stream Wetlands”) were parties to an option to lease agreement dated
April 17, 2017 (
the “OTL”). The OTL provided Stream Wetlands an option to lease certain lands from the Company, subject to the negotiation and execution of a mutually acceptable lease form. Stream Wetlands paid the Company
$38,333
during the quarter ended
March 31, 2020
to extend the option for
three
periods of
12
months each through
February 28, 2021.
The Company renewed the OTL for another period of
12
months on
February 28, 2021
in exchange for a payment by Stream Wetlands of
$38,333,
and Stream Wetlands
may
extend the option for
three
additional periods of
12
months upon payment of an additional
$38,333
for each of those periods. William Gray Stream, the President and Treasurer and a director of the Company, is the president of Stream Wetlands.
 
The Company's President and Treasurer is also the President of Matilda Stream Management, Inc. Matilda Stream Management provides administrative and accounting services to the Company for
no
compensation.
 
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
three
months ended
March 31, 2020,
the Company recorded
$8,263
in total of such expense, of which
$2,250
was rent expense. These expenses were paid through
August 31, 2020
and Stockwell ceased providing these services to the Company on
August 31, 2020.
 
Surface revenue-related party was
$9,583
for each of the
three
months ended
March 31, 2021
and
2020.
All of this amount was attributable to the OTL with Stream Wetlands described above.