Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

NOTE 25.  Subsequent Events

On October 30, 2018, the Company closed a $4.0 million debt financing of unsecured convertible notes and warrants.  The notes, which bear interest at 12% and mature 12 months after issuance, are convertible into shares of the Company’s common stock (the “Conversion Shares”) beginning six months after the date of issuance at $4.25 per share.  Interest on the notes is payable in shares of common stock at the same rate at the earlier of conversion or maturity.  Investors in the notes also received a warrant to purchase one-half of one share of common stock for each Conversion Share issuable under the notes at an exercise price of $4.25 per share.

Subsequent to September 30, 2018 through November 14, 2018, conversions of preferred stock into common stock resulted in the issuance of 115,000 additional shares of common stock.

On October 17, 2018, the Company entered into an Asset Purchase Agreement to sell the verykool trademark and other digital assets, as well as certain products remaining in finished goods inventory.