Convertible Notes Payable (Details Narrative) - USD ($) |
3 Months Ended | 6 Months Ended | 9 Months Ended |
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Sep. 30, 2017 |
Jun. 30, 2017 |
Sep. 30, 2017 |
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Additional amount included in accrued interest | $ 171,000 | ||
Original issue discount interest expense amortized over life of Notes | 40,658 | ||
Amount unable to be paid to retire convertible notes | 1,012,000 | ||
Investors Senior Convertible Notes | |||
Investor Senior Convertible Notes, aggregate principal amount | $ 63,158 | $ 750,000 | $ 63,158 |
Original issue discount percentage | 5.00% | ||
Gross proceeds received by Company | $ 60,000 | $ 712,500 | |
Reimbursement of legal fees | $ 20,000 | ||
Maturity date | Sep. 03, 2017 | Sep. 03, 2017 | |
Interest per annum | 8.00% | ||
Conversion price per share | $ 0.30 | ||
Warrants issued as additional compensation | 210,526 | 2,500,000 | |
Warrant term | 5 years | 5 years | |
Exercise price of warrants issued | $ 0.35 | $ 0.35 |
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- Definition Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average effective interest rate during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. No definition available.
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- Definition Return of or reimbursements received in relation to direct costs and expenses previously paid or incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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