Subsequent Events

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

8) Subsequent Events

● On July 2, 2015 the Company received a total of $100,000 from two convertible notes.

● On July 2 and 14, 2015, we paid off the $150,000 convertible note from June 2014.

● On July 14, 2015 the Company issued 80,000 shares of common stock to a lender in exchange for the conversion of $20,000 of convertible debt.

● On July 22, 2015, (the “Issuance Date”) Pressure BioSciences Inc. (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with various individuals (each, a “Purchaser”), pursuant to which the Company sold Senior Secured Convertible Debentures (the “Debentures”) and warrants to purchase shares of common stock equal to 50% of the number of shares issuable pursuant to the subscription amount (the “Warrants”) for an aggregate purchase price of $2,180,000 (the “Purchase Price”). The total amount of the offering could be up to a potential amount of $5,000,000 with an over-allotment of $1,875,000 (the “Private Placement”). One or more additional closings may occur on or before September 7, 2015 (“Final Closing”). The Purchase Price consisted of $1,520,000 in cash from various subscribers and $660,000 from the conversion of principal and interest on outstanding promissory notes. For more detailed information about the Private Placement, please see the Form 8-K filed by the Company on July 28, 2015. The warrants include anti-dilution price protection for subsequent equity sales below the exercise price, and thus will be accounted for as derivative instruments.

● On July 23, 2015, the Company filed an Amendment to the Certificate of Incorporation in the Commonwealth of Massachusetts increasing the number of authorized common shares from 65,000,000 to 100,000,000 shares.

● On July 24, 2015, we paid off the $63,500 convertible note from May 26, 2015.

● On July 24, 2015, we paid off the $81,250 convertible note from April 20, 2015.

● On July 24, 2015, we paid off the $100,000 convertible note from March 27, 2015.

● On July 24, 2015, we paid off the $75,000 convertible note from November 3, 2014.

● On July 31, 2015, we paid off the $100,000 convertible note from February 22, 2015.

● On July 31, 2015, we paid off the $100,000 convertible note from February 2, 2015.

● On July 31, 2015, we paid off the $120,000 convertible note from February 2, 2015.

● On August 11, 2015, the Company issued 160,000 shares of common stock to a lender for the conversion of $40,000 of convertible debt.

● On August 11, 2015, the Company closed a Securities Exchange Agreement with Everest Investments Holdings of Warsaw, Poland under which Everest purchased 1,000,000 shares of the Company’s restricted Common Stock at a purchase price of $0.50/share. In exchange, the Company received 601,500 shares of Everest Investments (“Everest”), a publicly-traded company on the Main Market of the Warsaw Stock Exchange. The shares of Everest were valued at approximately $460,000 as of the closing date.