XML 58 R45.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONVERTIBLE NOTES PAYABLE (Details Narrative 1) - USD ($)
1 Months Ended
Sep. 16, 2015
Mar. 18, 2015
Sep. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Jul. 31, 2015
Dec. 31, 2014
Warrants issued         28,424,669 12,424,669   12,424,669
Exercise price (in dollars per share)         $ 0.29 $ 0.53   $ 0.53
JMJ Financial [Member] | Convertible Promissory Note ("JMJ Note") [Member]                
Principal amount   $ 83,333   $ 500,000        
Original issue discount   $ 8,333   $ 50,000        
Description of payment terms  

Amounts borrowed under the JMJ Note within 90 days of funding without interest. Amounts not repaid within 90 days of funding bear a one- time interest charge of 12%.

           
Description of initial conversion price  

Initial conversion price of a 40% discount (subject to adjustment) to the lowest trade price of the common stock during the 20 trading day period immediately prior to the date of conversion.

           
Description of debt default  

Fails to repay amounts due under the JMJ Note when due, or if other events of default thereunder should occur, a default interest rate of 18% per annum will apply and the lender, at their option, may require the Company to repay, at 150%, all amounts that are outstanding.

           
Fai value of put and conversion option features   $ 67,400            
Full/initial discount on debt   83,233            
Net proceeds from issuance of long term debt   $ 75,000            
Debt maturity term   2 years            
Securities Purchase Agreement [Member] | Typenex Co-Investment, LLC [Member] | Warrant [Member]                
Warrants issued       979,965        
Exercise price (in dollars per share)       $ 0.30        
Warrant expiration period       5 years        
Fair value of warrant       $ 146,995        
Securities Purchase Agreement [Member] | Typenex Co-Investment, LLC [Member] | Convertible Promissory Note ("Typenex Note") [Member]                
Principal amount       225,000        
Original issue discount       20,000        
Financing fees       $ 5,000        
Interest rate       10.00%        
Maturity date       2016-02        
Description of payment terms      

Repaid in six equal monthly installments in cash or in shares of common stock at the Company’s option (the “Conversion Shares”) plus any unpaid interest beginning September 17, 2015 until the maturity date in February 2016.

       
Date of first payment       Sep. 17, 2015        
Description of conversion price      

(i) $0.30 or (ii) 70% (subject to adjustment) of the average of the three lowest closing bid prices of the common stock during the 20 trading days immediately preceding the date of conversion.

       
Conversion price (in dollars per share)       $ 0.30        
Percentage for repayment before maturity of outstanding principal amount       125.00%        
Description of initial conversion price      

The initial conversion price for lender conversions was also subject to adjustment if the aggregate market value of the Company’s common stock fell below $5 million dollars, in which case the conversion price would become the lesser of (i) $0.30 per share or (ii) 70% (subject to adjustment) of the average of the three lowest closing bid prices of the Company’s common stock during the 20 trading days immediately preceding the date of conversion.

       
Description of debt default      

Failed to pay any of the installments including interest due under the Typenex Note when due, or if other events of default thereunder occurred, a default interest rate of 22% per annum would apply and the lender, at their option could have required the Company to repay, at 115%, all amounts that are outstanding plus 5% for each additional event of default.

       
Fai value of put and conversion option features       $ 154,900        
Discount on carrying value of note       53,005        
Full/initial discount on debt       225,000        
Amount of principal payment $ 37,500              
Additional payment made for full settlement of debt     $ 217,500          
Securities Purchase Agreement [Member] | Typenex Co-Investment, LLC [Member] | Convertible Promissory Note ("Typenex Note") [Member] | Interest Expense [Member]                
Fai value of put and conversion option features       101,895        
Securities Purchase Agreement [Member] | JDF Capital, Inc. [Member] | Convertible Promissory Note ("JDF Note") [Member]                
Principal amount       110,000     $ 110,000  
Original issue discount       10,000     $ 10,000  
Financing fees       $ 6,000        
Interest rate       10.00%        
Maturity date       2016-03        
Description of payment terms      

Repay the outstanding principal balance of the JDF Note during the first 180 days following issuance, at its option, by paying the lender an amount equal to 130% during the first 60 days following the issuance, 140% from 61 days to 120 days following the issuance and 150% from 121 days to 180 days following the issuance.

       
Description of initial conversion price      

Initial conversion price of a 40% discount to the lower of (i) the lowest reported sales price of the common stock during the 20 trading day period immediately prior to the date of conversion or (ii) the lowest reported sales price during the 20 days trading period immediately prior to issuance of the JDF Note.

       
Description of debt default      

Failed to repay the JDF Note when due, or if other events of default occurred, a default interest rate of 15% per annum would apply and the lender, at their option, could have required the Company to repay, at 120%, all amounts that were outstanding.

       
Fai value of put and conversion option features       $ 38,200        
Full/initial discount on debt       54,200        
Repayment of debt     310,000          
Securities Purchase Agreement [Member] | Vis Vires Group [Member] | Convertible Promissory Note ("Vis Vires Note") [Member]                
Principal amount       79,000        
Original issue discount       $ 8,500        
Interest rate       8.00%        
Maturity date       2015-12        
Description of payment terms      

Repay the outstanding principal balance of the Vis Vires Note, by paying the lender an amount ranging from 110% during the 30 days following the issuance of the note up to 135% from 151 days to 180 days following the issuance of the Vis Vires Note.

       
Description of initial conversion price      

Initial conversion price of a 39% discount to the average of the lowest three reported closing bid prices of the common stock during the 10 trading day period immediately prior to the date of conversion.

       
Description of debt default      

Failed to repay the Vis Vires Note when due, or if other events of default thereunder occurred, a default interest rate of 22% per annum would apply and the lender, at their option, could have required the Company to pay, at 120%, all amounts that are outstanding.

       
Fai value of put and conversion option features       $ 13,831        
Full/initial discount on debt       $ 22,331        
Repayment of debt     $ 105,000