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Subsequent Event
12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
Subsequent Event

The Company has evaluated subsequent events occurring after the balance sheet.  See discussion above in Note 6 regarding secured promissory notes and Note 8 relating to the warrants issued with these secured promissory notes.

 

On March 15, 2016, the Board of Directors agreed to renegotiated terms with the warrant holders to remove the anti-dilution feature in the warrant agreement for the total warrants received increasing from 250,000 to 500,000 with a fixed exercise price of $0.80 from $1.60 per share.

 

The Company’s former auditor L.J. Soldinger and Associates filed a claim against the Company in Illinois’ Lake County Superior Court. The Company believed the claims were without merit and adequately reserved for costs associated with the claim at December 31, 2015.  In February 2016, the Company settled for $160,000 with its former accountants and upon reaching a settlement, L. J. Soldinger and Associates filed a dismissal of all claims with the court.  The amount of the settlement is included in accounts payable and accrued expenses at December 31, 2015.