Subsequent Events |
6 Months Ended |
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Jun. 30, 2018 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
10. Subsequent Events
On July 17, 2018, the Company issued 7,000,000 shares of common stock for the conversion of 7,000 shares of Series E.
Effective August 7, 2018, (the “Effective Date”) the Company borrowed $76,000 from an institutional investor (the “Investor”) and issued the Investor a 5% Original Issue Discount Promissory Note (the “Note”) in the total principal amount of $80,000. The Note matures on the sixth month anniversary of the Effective Date and bears interest at 12% per annum. The Note automatically becomes due and payable upon the Company closing a financing through which the Company receives proceeds of at least $125,000. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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