Subsequent events

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent events

19. Subsequent events

On April 17, 2018, the Company, entered into a Securities Purchase Agreement pursuant to which the Company issued a Convertible Promissory Note in the aggregate principal amount of $605,000, including an Original Issue Discount of $55,000, for net proceeds of $550,000, to Leonite. The note has a maturity date of May8, 2018. The outstanding principal amount of the note is convertible at any time and from time to time at the election of the purchaser following the issue date into shares of the Company’s common stock at a conversion price equal to $0.06 per share subject to price protection and anti-dilution protection.

The Company also issued a further 605,000 shares of common stock to Leonite as a commitment fee and a further 10,083,333 warrants to purchase shares of common stock at an initial exercise price of $0.06 per share, subject to anti-dilution and price protection.

On April 24, 2018, the Company prepaid the November 6, 2017, Power Up Lending Group convertible note with a principal balance of $103,000.  

Deposit on Real Estate

The Company has processed several amendments to the Agreement to Purchase certain buildings in West Palm Beach in which the current tenant operates a substance abuse center. These amendments primarily extend the closing date of the agreement. The last amendment extended the agreement to May 23, 2018.

Other than disclosed above, the Company has evaluated subsequent events through the date of the unaudited condensed consolidated financial statements were available to be issued and has concluded that no such events or transactions took place that would require disclosure herein.