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RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2016
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 8 — RELATED PARTY TRANSACTIONS

 

The following table sets forth information relating to the Company’s loans from related parties outstanding as of June 30, 2016.

Class   Lender   Interest
Rate		   Date of
Loan		   Term of Loan   Principal
Amount
Outstanding at
June 30, 2016		   Highest
Principal
Outstanding		   Amount of
Principal
Repaid		   Amount
of
Interest
Paid		   Conversion
Rate		   Shares
Underlying
Notes
June 30,
2016		  
Current, Promissory note payable to related parties:                                  
    Hope Hospice (1)   8 % 1/17/2012   Due on demand   $ 200,000   $ 200,000   $ —   $ 8,000   $ —   —  
    Hope Hospice (1)   8 % 6/14/2012   Due on demand   200,000   200,000   —   4,000   —   —  
    Hope Hospice (1)   8 % 6/21/2012   Due on demand   100,000   100,000   —   2,000   —   —  
    Yutaka Niihara (2)(4)   10 % 12/5/2012   Due on demand   126,730   1,213,700   1,086,970   —   —   —  
    Hope Hospice (1)   8 % 2/11/2013   Due on demand   50,000   50,000   —   2,000   —   —  
    Hope Hospice (1)   10 % 1/7/2015   2 years (3)   100,000   100,000   —   —   —   —  
    James Lee (5)   10 % 1/26/2015   2 years (3)   50,000   50,000   —   —   —   —  
    Hope Hospice (1)   10 % 1/29/2015   2 years (3)   —   30,000   30,000   2, 910   —   —  
    Lan T. Tran (2)   10 % 2/9/2015   2 years (3)   10,000   10,000   —   —   —   —  
    Charles Stark (2)   10 % 2/10/2015   2 years (3)   10,000   10,000   —   —   —   —  
    IRA Service Trust Co. FBO Peter B. Ludlum (2)   10 % 2/20/2015   2 years (3)   10,000   10,000   —   —   —   —  
    Cuc T. Tran (5)   11 % 3/5/2015   1 year   13,161   13,161   —   —   —   —  
    Yutaka Niihara (2)(4)   10 % 4/7/2015   2 years (3)   302,000   500,000   198,000   15,603   —   —  
    Yutaka Niihara (2)(4)   10 % 5/21/2015   Due on demand   826,105   826,105   —   47,822   —   —  
    Masaharu & Emiko Osato (4)   11 % 12/29/2015   Due on demand   300,000   300,000   —   —   —   —  
    Lan T. Tran (2)   11 % 2/10/2016   2 years (3)   130,509   130,509   —   —   —   —  
    Hideki & Eiko Uehara (5)   11 % 2/15/2016   Due on demand   133,333   133,333   —   3,667   —   —  
    Masaharu & Emiko Osato (4)   11 % 2/25/2016   Due on demand   400,000   400,000   —   —   —   —  
    Hope Hospice (1)   10 % 4/4/2016   Due on demand   50,000   50,000   —   —   —   —  
    Willis C. Lee (2)(4)   10 % 4/8/2016   Due on demand   —   79,700   79,700   1,288   —   —  
    Lan T. Tran (2)   10 % 4/29/2016   Due on demand   20,000   20,000   —   —   —   —  
    IRA Service Trust Co. FBO Peter B. Ludlum (2)   10 % 5/5/2016   Due on demand   10,000   10,000   —   —   —   —  
    Hope Hospice (1)   10 % 6/3/2016   Due on demand   250,000   250,000   —   —   —   —  
                Sub total   $ 3,291,838   $ 4,686,508   $ 1,394,670   $ 87,290   $ —   —  
                                           
Current, Convertible notes payable to related parties:                                  
    Yasushi Nagasaki (2)   10 % 6/29/2012   Due on demand   $ 254,000   $ 388,800   $ 134,800   $ 27,824   $ 3.30   90,651  
                Sub total   $ 254,000   $ 388,800   $ 134,800   $ 27,824   $ —   90,651  
                                           
Non-Current, Convertible notes payable to related parties:                                  
    Yutaka Niihara (2)(4)   10 % 9/29/2015   2 years   $ 100,000   $ 100,000   $ —   $ —   $ 4.50   23,902  
    Charles & Kimxa Stark (2)   10 % 10/1/2015   2 years   20,000   20,000   —   —   4.50   4,778  
    Yutaka & Soomi Niihara (2)(4)   10 % 11/16/2015   2 years   200,000   200,000   —   —   4.50   47,220  
                Sub total   $ 320,000   $ 320,000   $ —   $ —   $ —   75,900  
                                           
                Total   $ 3,865,838   $ 5,395,308   $ 1,529,470   $ 115,114   $ —   166,551  

(1) Dr. Niihara, a director and officer of the Company, is also the CEO of Hope Hospice.

(2) Officer

(3) Due on Demand

(4) Director

(5) Family of Officer/Director

 

The following table sets forth information relating to the Company’s loans from related parties outstanding as of December 31, 2015.

Class   Lender   Annual
Interest
Rate		   Date
of
Loan		   Term
of
Loan		   Principal
Amount
Outstanding
at
December 31,
2015		   Highest
Principal
Outstanding		   Amount
of
Principal
Repaid		   Amount
of
Interest
Paid		   Conversion
Rate		   Shares
Underlying
Notes at
December 31,
2015		  
Current, Notes payable to related parties:                                      
    Hope Hospice(1)   8 % 1/17/2012   Due on demand   $ 200,000   $ 200,000   $ —   $ 8,000   $ —   —  
    Hope Hospice(1)   8 % 6/14/2012   Due on demand   200,000   200,000   —   8,000   —   —  
    Hope Hospice(1)   8 % 6/21/2012   Due on demand   100,000   100,000   —   4,000   —   —  
    Yutaka Niihara(2)(4)   10 % 12/5/2012   Due on demand   126,730   1,213,700   1,086,970   56,722   —   —  
    Hope Hospice(1)   8 % 2/11/2013   Due on demand   50,000   50,000   —   2,000   —   —  
    Lan T. Tran(2)   11 % 2/10/2014   2 years(3)   106,976   106,976   —   —   —   —  
    Hideki & Eiko Uehara(5)   11 % 2/15/2014   2 years   133,333   133,333   —   —   —   —  
    Hope Hospice(1)   10 % 1/7/2015   2 years(3)   100,000   100,000   —   —   —   —  
    James Lee(5)   10 % 1/26/2015   2 years(3)   50,000   50,000   —   —   —   —  
    Hope Hospice(1)   10 % 1/29/2015   2 years(3)   30,000   30,000   —   —   —   —  
    Yutaka Niihara(2)(4)   10 % 1/29/2015   Due on demand   —   20,000   20,000   773   —   —  
    Lan T. Tran(2)   10 % 2/9/2015   2 years(3)   10,000   10,000   —   —   —   —  
    Charles Stark(2)   10 % 2/10/2015   2 years(3)   10,000   10,000   —   —   —   —  
    IRA Service Trust Co. FBO Peter B. Ludlum(2)   10 % 2/20/2015   2 years(3)   10,000   10,000   —   —   —   —  
    Cuc T. Tran(5)   11 % 3/5/2015   1 year   13,161   13,161   —   —   —   —  
    Yutaka Niihara(2)(4)   10 % 4/7/2015   2 years(3)   500,000   500,000   —   —   —   —  
    Yutaka Niihara(2)(4)   10 % 5/21/2015   Due on demand   826,105   826,105   —   —   —   —  
    Masaharu & Emiko Osato(4)   11 % 12/29/2015   Due on demand   300,000   300,000   —   —   —   —  
                Sub total   $ 2,766,304   $ 3,873,275   $ 1,106,970   $ 79,495   $ —   —  
Current, Convertible notes payable to related parties:                                      
    Yasushi Nagasaki(2)   10 % 6/29/2012   Due on demand   $ 298,000   $ 388,800   $ 90,800   $ —   $ 3.30   108,505  
                Sub total   $ 298,000   $ 388,800   $ 90,800   $ —   $ —   108,505  
Non-Current, convertible notes payable to related parties:                                      
    Yutaka Niihara(2)(4)   10 % 9/29/2015   2 years   $ 100,000   $ 100,000   $ —   $ —   $ 4.50   22,794  
    Charles & Kimxa Stark(2)   10 % 10/1/2015   2 years   20,000   20,000   —   —   4.50   4,556  
    Yutaka & Soomi Niihara(2)(4)   10 % 11/16/2015   2 years   200,000   200,000   —   —   4.50   45,004  
                Sub total   320,000   320,000   $ —   $ —   $ —   72,354  
                Total   $ 3,384,304   $ 4,582,075   $ 1,197,770   $ —   $ —   180,859  

(1) Dr. Niihara, a director and officer of the Company, is also the CEO of Hope Hospice.

(2) Officer

(3) Due on Demand

(4) Director

(5) Family of Officer/Director