PROMISSORY NOTE PAYABLE (Tables)

9 Months Ended

Sep. 30, 2016

PROMISSORY NOTE PAYABLE [Abstract]

Information relating to promissory note payable

Information relating to the April 2015 Note is as follows:

								As of September 30, 2016
Transaction	Initial  Principal Amount		Interest Rate			Maturity Date	Conversion Price (1)	Principal Balance (2)		Unamortized Debt Discount		Unamortized Debt Issuance Costs		Carrying Value
April 2015 Note	$	550,000		10.0	%	08/12/2016			---		---		---		---
Total	$	550,000							---		---		---		---

(1)

As part of the April 2015 Note, at our option, subject to certain volume, price and other conditions, the monthly installments of principle and interest due under the April 2015 Note may be paid in whole, or in part, in cash or in Common Stock.  If the monthly installments are paid in Common Stock, such shares being issued will be based on a price that is 80% of the average of the three lowest volume weighted average prices of the shares of Common Stock during the preceding twenty trading days.  The percentage declines to 70% if the average of the three lowest volume weighted average prices of the shares of Common Stock during the preceding twenty trading days is less than $0.05 per share.

(2)

On August 11, 2016, the Company issued the final installment payment due under the April 2015 Note.