XML 62 R50.htm IDEA: XBRL DOCUMENT v3.5.0.2
Stockholder's Deficit (Details Narrative) - USD ($)
1 Months Ended 2 Months Ended 6 Months Ended 9 Months Ended
Jul. 07, 2016
Jun. 22, 2016
Jun. 03, 2016
Jan. 31, 2016
Jun. 17, 2016
Jun. 30, 2016
Sep. 30, 2016
Sep. 30, 2015
Stock based compensation expense             $ 208,977 $ 124,250
Debt conversion amount             196,330  
Number of shares issued   2,000,000            
Number of shares issued, value   $ 2,000,000            
Number of shares issued upon accrued and unpaid dividends, value             0  
Number of units issued for cash         499      
Number of units issued for cash, value         $ 499,000      
Number of units issued for cancellation outstanding indebtedness         50      
Number of units issued for cancellation outstanding indebtedness, value         $ 50,000      
Outstanding indebtedness net of issuance costs             1,268,007  
Beneficial conversation feature           $ 228,550    
Issuance of common stock for services rendered             218,970  
8% Series A Convertible Preferred Stock [Member]                
Debt conversion amount              
Number of shares issued             1  
Number of shares issued upon accrued and unpaid dividends 12,802              
Number of shares issued upon accrued and unpaid dividends, value $ 17,759            
Outstanding indebtedness net of issuance costs         $ 35,920      
Preferred stock stated value (in dollars per share)         $ 1,000      
Preferred stock fixed conversion price (in dollars per share)         $ 1.50   $ 1.50  
Description of participation rights        

Dividends are payable quarterly in arrears at the Company’s option either in cash or “in kind” in shares of Common Stock; provided, however that dividends may only be paid in cash following the fiscal year in which the Company has net income (as shown in its audited financial statements contained in its Annual Report on Form 10-K for such year) of at least $500,000, to the extent permitted under applicable law out of funds legally available therefor. For ‘in-kind” dividends, holders will receive that number of shares of Common Stock equal to (i) the amount of the dividend payment due such stockholder divided by (ii) 90% of the average of the per share market values during the twenty (20) trading days immediately preceding a dividend date.

     
Description of liquidation rights        

In the event of any voluntary or involuntary liquidation, dissolution or winding up, or sale of the Company, each holder of Series A Preferred shall be entitled to receive its pro rata portion of an aggregate payment equal to: (i) $1,000 multiplied by (ii) the total number of shares of Series A Preferred Stock issued under the Series A Certificate of Designation multiplied by (iii) 2.5.

     
Beneficial conversation feature              
Number of units issued         972      
Number of units issued, value         $ 972,000      
Issuance of common stock for services rendered              
Six Third-Party Consultant [Member]                
Number of shares issued for services             81,434  
Issuance of common stock for services rendered             $ 218,970  
Employees [Member]                
Number of shares issued to employees       10,050        
Value of shares issued to employees       $ 54,270        
Stock based compensation expense             $ 154,707  
MR Group I, LLC [Member] | Exchange Agreement [Member] | 14% Secured Convertible Promissory Note [Member]                
Debt conversion amount     $ 196,330          
Number of shares issued upon debt conversion     343,873          
Officers [Member]                
Number of units issued for services         423   423  
Number of units issued for services, value         $ 423,000