XML 65 R48.htm IDEA: XBRL DOCUMENT v3.22.1
CONVERTIBLE DEBT (Details) - USD ($)
Nov. 03, 2014
Dec. 31, 2021
Series 2023 Notes [Member]    
Inception Date Aug. 01, 2013  
Cash Received $ 10,500,000  
Principal (Initial Liability) $ 10,500,000  
Maturity (Term) Aug. 01, 2023  
Exercise Price $ 0.54  
Stated Interest 10.00%  
Payments In April 2019 the Company entered into a settlement agreement with the holders of the Series A Notes and Series 2023 Notes (the “PIK Notes”). Per the terms of the agreement the Company will pay to holders of PIK Notes on a pro rata basis the following percentages of revenue booked during a fiscal quarter: (a) three percent (3%) of gross revenues if cash or cash equivalents on the Company’s balance sheet or otherwise is less than $3 million on the last day of the fiscal quarter; or (b) five percent (5%) of gross revenues if cash or cash equivalents on the Company’s balance sheet or otherwise is greater than $3 million but less than $5 million the last day of the fiscal quarter; or (c) twelve percent (12%) of gross revenues if cash or cash equivalents on the Company’s balance sheet or otherwise is greater than $5 million.  
Series A Notes [Member]    
Inception Date Nov. 03, 2014  
Cash Received $ 12,500,000  
Principal (Initial Liability) $ 19,848,486  
Maturity (Term) May 01, 2023  
Exercise Price $ 0.33  
Stated Interest 10.00% 10.00%
Payments In April 2019 the Company entered into a settlement agreement with the holders of the Series A Notes and Series 2023 Notes (the “PIK Notes”). Per the terms of the agreement the Company will pay to holders of PIK Notes on a pro rata basis the following percentages of revenue booked during a fiscal quarter: (a) three percent (3%) of gross revenues if cash or cash equivalents on the Company’s balance sheet or otherwise is less than $3 million on the last day of the fiscal quarter; or (b) five percent (5%) of gross revenues if cash or cash equivalents on the Company’s balance sheet or otherwise is greater than $3 million but less than $5 million the last day of the fiscal quarter; or (c) twelve percent (12%) of gross revenues if cash or cash equivalents on the Company’s balance sheet or otherwise is greater than $5 million.