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Subsequent Events
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent events

On April 18, 2017, the Company issued a Convertible Promissory Note to the Daniel Jonathan Blech Trust DTD 9/01/2005 in the amount of $45,000. Mr. Blech, a member of the Company’s board of directors, is the trustee. The Convertible Promissory Note bears interest at the rate of 9% has six-month maturity date, and a voluntary conversion into an upcoming financing in the event the Company closes the financing and receives gross proceeds totaling at least $200,000. The conversion rate will be at the same terms of the financing.

 

On May 3, 2017, the Company amended one May 5, 2015 9% Convertible Promissory Note with a principal amount of $275,000 as follows: the maturity date was extended to July 7, 2017 and in the event the borrower completes an asset sale or capital raise of more than $275,000, then the Notes shall automatically immediately become due and payable.

 

On May 15, 2017, the Company amended one May 5, 2015 9% Convertible Promissory Note with a principal amount of $262,500 as follows: the maturity date was extended to July 7, 2017 and in the event the borrower completes an asset sale or capital raise of more than $275,000, then the Notes shall automatically immediately become due and payable.