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Subsequent Events
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Subsequent Events

Issuance of 2017 Bridge Notes. As disclosed under Note 1 above, subsequent to June 30, 2017, the Company entered into Note Purchase Agreements with two existing stockholders, pursuant to which the Company issued 2017 Bridge Notes in the aggregate principal amount of $86,000. As additional consideration for the purchase of the 2017 Bridge Notes, the Company issued to the purchasers an aggregate of 860,000 shares of Series B Preferred. The 2017 Bridge Notes accrue interest at a rate of 10% per annum, payable in either cash or shares of the Company’s Common Stock and matures on September 30, 2017.

 

We have evaluated subsequent events through the date of this filing in accordance with the Subsequent Events Topic of the FASB ASC 855, and have determined that, except as disclosed herein, no subsequent events occurred that are reasonably likely to impact these financial statements.