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5400000 Green Technology Solutions, Inc. 10-Q --12-31 14069575 false 0000874792 Yes No Smaller Reporting Company No 2016 Q1 2016-03-31 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 1. General Organization and Business </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Green Technology Solutions, Inc. (&#x201c;GTSO&#x201d;, &#x201c;we&#x201d;, &#x201c;us&#x201d;, &#x201c;our&#x201d; or the &#x201c;Company&#x201d;) was incorporated as XCL Sunrise, Inc. in Delaware on June 12, 2010. We changed our name to Sunrise Energy Resources, Inc. on November 1, 2004. On October 26, 2010, we changed our name to Green Technology Solutions, Inc. On July 28, 2014, the Company reincorporated from Delaware to Nevada. Our principal executive offices are at 14173 Northwest Freeway #237, Houston, Texas. Our year-end is December 31. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> GTSO is in the business of trying to keep the world a greener place to live. Having a greener environment is what we strive to provide so that we may live healthier lives. The corporate mission is to support the health and wellness sub-market of medical cannabis. </div><br/> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 2. Going Concern </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the three months ended March 31, 2016, the Company had a net loss of $185,821 and negative cash flow from operating activities of $63,575. As of March 31, 2016, the Company had negative working capital of $1,207,843. Management does not anticipate having positive cash flow from operations in the near future. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> These factors raise a substantial doubt about the Company&#x2019;s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company does not have the resources at this time to repay its credit and debt obligations, make any payments in the form of dividends to its shareholders or implement its business plan. Without additional capital, the Company will not be able to remain in business. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Management has plans to address the Company&#x2019;s financial situation as follows: </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> In the near term, management plans to continue to focus on raising the funds necessary to implement the Company&#x2019;s business plan. Management will continue to seek out debt financing to obtain the capital required to meet the Company&#x2019;s financial obligations. There is no assurance, however, that lenders will continue to advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raise doubts about the Company&#x2019;s ability to continue as a going concern. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> In the long term, management believes that the Company&#x2019;s projects and initiatives will be successful and will provide cash flow to the Company, which will be used to finance the Company&#x2019;s future growth. However, there can be no assurances that the Company&#x2019;s planned activities will be successful, or that the Company will ultimately attain profitability. The Company&#x2019;s long-term viability depends on its ability to obtain adequate sources of debt or equity funding to meet current commitments and fund the continuation of its business operations, and the ability of the Company to achieve adequate profitability and cash flows from operations to sustain its operations. </div><br/> 1207843 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 3. Summary of Significant Accounting Policies </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Basis of presentations </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The consolidated financial statements and related disclosures have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (&#x201c;GAAP&#x201d;) and pursuant to the rules and regulations of the Securities and Exchange Commission (&#x201c;SEC&#x201d;). </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Interim Financial Statements </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The accompanying these unaudited financial statements have been prepared in accordance with generally accepted accounting (&#x201c;GAAP&#x201d;) principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2015 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the &#x201c;SEC&#x201d;). </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The results of operations for the three month period ended March 31, 2016 are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2016. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Consolidated Financial Statements </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries from the date of their formations. Significant intercompany transactions have been eliminated in consolidation. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Use of Estimates </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Cash and Cash Equivalents </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $634 and $844 at March 31, 2016 and December 31, 2015, respectively. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Revenue Recognition </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company follows ASC 605, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Revenue Recognition</font> recognizing revenue when persuasive evidence of an arrangement exists, product delivery has occurred or the services have been rendered, the price is fixed or determinable and collectability is reasonably assured. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Common Stock </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company records common stock issuances when all of the legal requirements for the issuance of such common stock have been satisfied. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Income Taxes </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company accounts for income taxes under ASC 740 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Income Taxes</font>. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized as of March 31, 2016 or December 31, 2015. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Earnings (Loss) per Common Share </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company computes basic and diluted earnings per common share amounts in accordance with ASC Topic 260, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Earnings per Share</font>. The basic earnings (loss) per common share are calculated by dividing the Company&#x2019;s net income available to common shareholders by the weighted average number of common shares outstanding during the year. The diluted earnings (loss) per common share are calculated by dividing the Company&#x2019;s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. There are no dilutive shares outstanding for any periods reported. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt"> In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus are excluded from the calculation. The Company&#x2019;s convertible debt is considered anti-dilutive due to the Company&#x2019;s net loss for the three months ended March 31, 2016 and 2015. As a result, the Company did not have any potentially dilutive common shares for those periods. At March 31, 2016, the Company had 102,601,785&nbsp; potentially issuable shares upon the conversion of convertible notes payable and interest. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Financial Instruments </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company&#x2019;s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> FASB Accounting Standards Codification (ASC) 820 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Fair Value Measurements and Disclosures</font> (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity&#x2019;s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 62.6pt; TEXT-INDENT: -40.3pt"> Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 62.6pt; TEXT-INDENT: -40.3pt"> Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 62.6pt; TEXT-INDENT: -40.3pt"> Level 3 - Inputs that are both significant to the fair value measurement and unobservable. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2016. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts receivable, other current assets, accounts payable, and accrued expenses. The fair value of the Company&#x2019;s notes payable is estimated based on current rates that would be available for debt of similar terms that is not significantly different from its stated value. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Beneficial Conversion Feature </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Beneficial conversion feature is a non-detachable conversion feature that is in the money at the commitment date. The Company follows the guidance of ASC Subtopic 470-20 Debt with Conversion and Other Options to evaluate as to whether beneficial conversion feature exists. Pursuant to Section 470-20-30 an embedded beneficial conversion feature recognized separately under paragraph 470-20-25-5 shall be measured initially at its intrinsic value at the commitment date (see paragraphs 470-20-30-9 through 30-12) as the difference between the conversion price (see paragraph 470-20-30-5) and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. When the Company issues a debt or equity security that is convertible into common stock at a discount from the fair value of the common stock at the date the debt or equity security counterparty is legally committed to purchase such a security (Commitment Date), a beneficial conversion charge is measured and recorded on the Commitment Date for the difference between the fair value of the Company&#x2019;s common stock and the effective conversion price of the debt or equity security. If the intrinsic value of the beneficial conversion feature is greater than the proceeds allocated to the debt or equity security, the amount of the discount assigned to the beneficial conversion feature is limited to the amount of the proceeds allocated to the debt or equity security. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Commitments and Contingencies </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. There are no known commitments or contingencies as of March 31, 2016 and December 31, 2015. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Subsequent events </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Recently Issued Accounting Pronouncements </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> We have reviewed the FASB issued Accounting Standards Update (&#x201c;ASU&#x201d;) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation&#x2019;s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration. </div><br/> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Basis of presentations </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The consolidated financial statements and related disclosures have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (&#x201c;GAAP&#x201d;) and pursuant to the rules and regulations of the Securities and Exchange Commission (&#x201c;SEC&#x201d;). </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Interim Financial Statements </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The accompanying these unaudited financial statements have been prepared in accordance with generally accepted accounting (&#x201c;GAAP&#x201d;) principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2015 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the &#x201c;SEC&#x201d;). </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The results of operations for the three month period ended March 31, 2016 are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2016.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Consolidated Financial Statements </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries from the date of their formations. Significant intercompany transactions have been eliminated in consolidation.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Use of Estimates </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Cash and Cash Equivalents </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $634 and $844 at March 31, 2016 and December 31, 2015, respectively.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Revenue Recognition </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company follows ASC 605, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Revenue Recognition</font> recognizing revenue when persuasive evidence of an arrangement exists, product delivery has occurred or the services have been rendered, the price is fixed or determinable and collectability is reasonably assured.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Common Stock </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company records common stock issuances when all of the legal requirements for the issuance of such common stock have been satisfied.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Income Taxes </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company accounts for income taxes under ASC 740 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Income Taxes</font>. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized as of March 31, 2016 or December 31, 2015.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Earnings (Loss) per Common Share </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company computes basic and diluted earnings per common share amounts in accordance with ASC Topic 260, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Earnings per Share</font>. The basic earnings (loss) per common share are calculated by dividing the Company&#x2019;s net income available to common shareholders by the weighted average number of common shares outstanding during the year. The diluted earnings (loss) per common share are calculated by dividing the Company&#x2019;s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. There are no dilutive shares outstanding for any periods reported. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt"> In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus are excluded from the calculation. The Company&#x2019;s convertible debt is considered anti-dilutive due to the Company&#x2019;s net loss for the three months ended March 31, 2016 and 2015. As a result, the Company did not have any potentially dilutive common shares for those periods. At March 31, 2016, the Company had 102,601,785&nbsp; potentially issuable shares upon the conversion of convertible notes payable and interest.</div> 102601785 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Financial Instruments </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company&#x2019;s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> FASB Accounting Standards Codification (ASC) 820 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Fair Value Measurements and Disclosures</font> (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity&#x2019;s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 62.6pt; TEXT-INDENT: -40.3pt"> Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 62.6pt; TEXT-INDENT: -40.3pt"> Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 62.6pt; TEXT-INDENT: -40.3pt"> Level 3 - Inputs that are both significant to the fair value measurement and unobservable. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2016. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts receivable, other current assets, accounts payable, and accrued expenses. The fair value of the Company&#x2019;s notes payable is estimated based on current rates that would be available for debt of similar terms that is not significantly different from its stated value.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Beneficial Conversion Feature </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Beneficial conversion feature is a non-detachable conversion feature that is in the money at the commitment date. The Company follows the guidance of ASC Subtopic 470-20 Debt with Conversion and Other Options to evaluate as to whether beneficial conversion feature exists. Pursuant to Section 470-20-30 an embedded beneficial conversion feature recognized separately under paragraph 470-20-25-5 shall be measured initially at its intrinsic value at the commitment date (see paragraphs 470-20-30-9 through 30-12) as the difference between the conversion price (see paragraph 470-20-30-5) and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. When the Company issues a debt or equity security that is convertible into common stock at a discount from the fair value of the common stock at the date the debt or equity security counterparty is legally committed to purchase such a security (Commitment Date), a beneficial conversion charge is measured and recorded on the Commitment Date for the difference between the fair value of the Company&#x2019;s common stock and the effective conversion price of the debt or equity security. If the intrinsic value of the beneficial conversion feature is greater than the proceeds allocated to the debt or equity security, the amount of the discount assigned to the beneficial conversion feature is limited to the amount of the proceeds allocated to the debt or equity security.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Commitments and Contingencies </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. There are no known commitments or contingencies as of March 31, 2016 and December 31, 2015.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Subsequent events </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Recently Issued Accounting Pronouncements </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> We have reviewed the FASB issued Accounting Standards Update (&#x201c;ASU&#x201d;) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation&#x2019;s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.</div> <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 4. Advances </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> During the three months ended March 31, 2016, Vista View Ventures, Inc. advanced $63,365 to the Company for working capital. These advances are non-interest bearing and payable on demand. During the same period, the Company refinanced $63,365 of the advances into convertible notes payable with Vista View Ventures, Inc. As of March 31, 2016 and December 31, 2015, advances in the amount of $3,235 and $3,235, respectively, are included in current liabilities on the consolidated balance sheets. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> During the three months ended March 31, 2016, we recognized imputed interest expense of $671 on these advances. </div><br/> non-interest bearing payable on demand 63365 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 5. Deposit for Clean Room </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> On March 4, 2015, the Company signed an asset purchase agreement with SRN Properties Corporation (&#x201c;SRN Properties&#x201d;) to acquire an approximately 1,300 square foot Class 5 clean room. The Company expects to install the clean room in Colorado, where it will serve as a center for hygienic testing and quality control services to cannabis growers and retailers. The agreement called for GTSO to pay 3,000,000 shares of common stock of the Company and $250,000 to be paid in cash installments. As of December 31, 2015, we had made cash payments of $122,500 and issued 3,000,000 shares of our common stock in satisfaction of this requirement. As of December 31, 2015, the remaining cash owed to SRN Properties of $127,500 was recorded as accounts payable to related party on the balance sheet. SRN Properties was not a related party prior to the acquisition; however, it is a significant shareholder after the acquisition. For accounting purposes, the shares issued for the purchase of the clean room were valued at $5,400,000 based on the fair market value of the stock on the date the agreement was signed. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> &nbsp;As of December 31, 2015, the Company determined that the asset related to the deposit for the purchase of the clean room was impaired and should be written off.&nbsp;&nbsp;The Company has been unable to make the remaining cash payments required under the purchase agreement and does not expect to be able to make those payments in the near future. As a result, the Company recorded a loss on impairment of fixed assets of $5,650,000 during the year ended December 31, 2015. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> On January 6, 2016, we amended the agreement with SRN Properties. The purchase price for the clean room consists of $250,000 in cash ($122,500 of which has been already been paid) and 9,000 restricted shares of our Series A preferred stock. As part of the amendment, SRN Properties agreed to return 3,000,000 shares of our common stock that were issued upon execution of the original agreement. </div><br/> agreement with SRN Properties Corporation (&#x201c;SRN Properties&#x201d;) to acquire an approximately 1,300 square foot Class 5 clean room 3000000 $250,000 to be paid in cash installments 122500 5400000 5650000 9000 3000000 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 6. Convertible Notes Payable </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Convertible notes payable consisted of the following at March 31, 2016 and December 31, 2015: </div><br/><table id="new_id-5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> March 31, 2016 </div> </td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> December 31, 2015 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated April 1, 2010, bearing interest at 10% per annum, matured on March 31, 2013 and convertible into shares of common stock at $0.01 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 14,491 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 14,138 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated May 15, 2010, bearing interest at 10% per annum, matured on March 31, 2013 and convertible into shares of common stock at $0.01 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 7,429 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 7,249 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated October 31, 2012, bearing interest at 10% per annum, matures on April 30, 2014 and convertible into shares of common stock at $0.02 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 64 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 64 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated April 1, 2013, bearing interest at 10% per annum, matures on March 31, 2015 and convertible into shares of common stock at $0.01 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,147 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,147 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated June 30, 2013, bearing interest at 10% per annum, matures on June 30, 2015 and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 60,242 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 69,068 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated September 30, 2013, bearing interest at 10% per annum, matures on September 30, 2015 and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 312,310 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 312,310 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated June 30, 2014, bearing interest at 10% per annum, matures on June 30, 2014 and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 162,946 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 162,946 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated December 31, 2014, bearing interest at 10% per annum, matures on December 31, 2016 and convertible into shares of common stock at $2.00 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 202,160 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 202,160 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated March 31, 2015, bearing interest at 10% per annum, maturing on March 31, 2017, and convertible into shares of common stock at $1.10 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 87,970 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 87,970 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated June 30, 2015, bearing interest at 10% per annum, maturing on June 30, 2017, and convertible into shares of common stock at $0.15 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated September 30, 2015, bearing interest at 10% per annum, maturing on September 30, 2018, and convertible into shares of common stock at $0.06 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 326,402 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 326,402 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.3pt; TEXT-INDENT: -4.5pt"> Convertible note dated December 31, 2015, bearing interest at 10% per annum, maturing on December 31, 2018, and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 103,595 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 103,595 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.3pt; TEXT-INDENT: -4.5pt"> Convertible note dated March 31, 2016, bearing interest at 10% per annum, maturing on March 31, 2019 and convertible into share of common stock at a 60% discount of the volume weighted average market price. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Total convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,423,933 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,368,861 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Less: current portion of convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (769,081 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Less: discount on noncurrent convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (549,173 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (578,194 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Convertible notes payable, net of discount </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 26,002 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 21,586 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Current portion of convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 769,081 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Less: discount on current portion of convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (310,613 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (286,267 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Current portion of convertible notes payable, net of discount </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 538,145 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 482,814 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> All principal along with accrued interest is payable on the maturity date. The notes are convertible into common stock at the option of the holder. The holder of the notes cannot convert the notes into shares of common stock if that conversion would result in the holder owning more than 4.9% of the outstanding stock of the Company. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Advances Refinanced into Convertible Promissory Notes </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> During the three months ended March 31, 2016, the Company has signed Convertible Promissory Notes that refinance non-interest bearing advances into convertible notes payable. The Convertible Promissory Notes bear interest at 10% per annum and are payable along with accrued interest. The Convertible Promissory Note and unpaid accrued interest are convertible into common stock at the option of the holder. </div><br/><table id="new_id-6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 75%" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date Issued </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Maturity Date </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Interest Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Conversion Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount of Note </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> March 31, 2016 </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"> March 31, 2019 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 10 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> % </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"> 40% of market </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Conversions to Common Stock </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> During three months ended March 31, 2016, the holders of the Convertible Note Payable dated June 30, 2013 elected to convert principal and accrued interest in the amounts show below into share of common stock at a rate of $0.01 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement that provided for conversion. </div><br/><table id="d403971b9b1f4e6ba7a8758a2e873587" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 75%" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 33%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount Converted </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Number of Shares Issued </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Discount </div> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amortized </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 33%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> January 7, 2016 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 2,460 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 246,000 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 33%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> January 8, 2016 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 6,687 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 668,700 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 33%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"> Total </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 9,147 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 914,700 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table><br/> The notes are convertible into common stock at the option of the holder. The holder of the notes cannot convert the notes into shares of common stock if that conversion would result in the holder owning more than 4.9% of the outstanding stock of the Company. 0.10 0.01 0 Convertible notes payable consisted of the following at March 31, 2016 and December 31, 2015: <br /> <br /><table id="new_id-5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> March 31, 2016 </div> </td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> December 31, 2015 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated April 1, 2010, bearing interest at 10% per annum, matured on March 31, 2013 and convertible into shares of common stock at $0.01 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 14,491 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 14,138 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated May 15, 2010, bearing interest at 10% per annum, matured on March 31, 2013 and convertible into shares of common stock at $0.01 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 7,429 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 7,249 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated October 31, 2012, bearing interest at 10% per annum, matures on April 30, 2014 and convertible into shares of common stock at $0.02 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 64 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 64 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated April 1, 2013, bearing interest at 10% per annum, matures on March 31, 2015 and convertible into shares of common stock at $0.01 per share. This note is in default. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,147 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,147 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated June 30, 2013, bearing interest at 10% per annum, matures on June 30, 2015 and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 60,242 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 69,068 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated September 30, 2013, bearing interest at 10% per annum, matures on September 30, 2015 and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 312,310 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 312,310 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated June 30, 2014, bearing interest at 10% per annum, matures on June 30, 2014 and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 162,946 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 162,946 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated December 31, 2014, bearing interest at 10% per annum, matures on December 31, 2016 and convertible into shares of common stock at $2.00 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 202,160 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 202,160 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated March 31, 2015, bearing interest at 10% per annum, maturing on March 31, 2017, and convertible into shares of common stock at $1.10 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 87,970 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 87,970 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated June 30, 2015, bearing interest at 10% per annum, maturing on June 30, 2017, and convertible into shares of common stock at $0.15 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.35pt; TEXT-INDENT: -4.5pt"> Convertible note dated September 30, 2015, bearing interest at 10% per annum, maturing on September 30, 2018, and convertible into shares of common stock at $0.06 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 326,402 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 326,402 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.3pt; TEXT-INDENT: -4.5pt"> Convertible note dated December 31, 2015, bearing interest at 10% per annum, maturing on December 31, 2018, and convertible into shares of common stock at $0.01 per share. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 103,595 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 103,595 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 8.3pt; TEXT-INDENT: -4.5pt"> Convertible note dated March 31, 2016, bearing interest at 10% per annum, maturing on March 31, 2019 and convertible into share of common stock at a 60% discount of the volume weighted average market price. </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Total convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,423,933 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,368,861 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Less: current portion of convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (769,081 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Less: discount on noncurrent convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (549,173 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (578,194 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Convertible notes payable, net of discount </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 26,002 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 21,586 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Current portion of convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 769,081 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 72%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Less: discount on current portion of convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (310,613 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> (286,267 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> ) </div> </td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 72%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> Current portion of convertible notes payable, net of discount </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 538,145 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 482,814 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table> 14491 14138 7429 7249 64 64 1147 1147 60242 69068 312310 312310 162946 162946 202160 202160 87970 87970 81813 81813 326402 326402 103595 103595 63365 0 1423933 1368861 848758 769081 26002 21586 538145 482814 2010-04-01 2010-04-01 0.10 0.10 2013-03-31 2013-03-31 0.01 0.01 2010-05-15 2010-05-15 0.10 0.10 2013-03-31 2013-03-31 0.01 0.01 2012-10-31 2012-10-31 0.10 0.10 2014-04-30 2014-04-30 0.02 0.02 2015-03-31 2015-03-31 2013-04-01 2013-04-01 0.10 0.10 0.01 0.01 2015-06-30 2015-06-30 2013-06-30 2013-06-30 0.10 0.10 0.01 2015-09-30 2015-09-30 2013-09-30 2013-09-30 0.10 0.10 0.01 0.01 2014-06-30 2014-06-30 2014-06-30 2014-06-30 0.10 0.10 0.01 0.01 2016-12-31 2016-12-31 2014-12-31 2014-12-31 0.10 0.10 2.00 2.00 2017-03-31 2017-03-31 2015-03-31 2015-03-31 0.10 0.10 1.10 1.10 2015-06-30 2015-06-30 2017-06-30 2017-06-30 0.10 0.10 0.15 0.15 2015-09-30 2015-09-30 2018-09-30 2018-09-30 0.10 0.10 0.06 0.06 2015-12-31 2015-12-31 2018-12-31 2018-12-31 0.10 0.10 0.01 0.01 2016-03-31 2019-03-31 0.10 60% discount of the volume weighted average market price <table id="new_id-6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 75%" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date Issued </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Maturity Date </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Interest Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Conversion Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount of Note </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> March 31, 2016 </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"> March 31, 2019 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 10 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> % </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"> 40% of market </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table> 2019-03-31 0.10 40% of market 63365 63365 <table id="d403971b9b1f4e6ba7a8758a2e873587" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 75%" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 33%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount Converted </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Number of Shares Issued </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Discount </div> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amortized </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 33%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> January 7, 2016 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 2,460 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 246,000 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 33%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> January 8, 2016 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 6,687 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 668,700 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 33%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"> Total </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 9,147 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 914,700 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table> 2460 246000 0 6687 668700 0 9147 914700 0 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 7. Debt Repayment Commitments </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The following debt repayments are due within the next five years: </div><br/><table id="new_id-7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="22"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Twelve months ending March 31, </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2016 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2017 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2018 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2019 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2020 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Total </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 16%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 493,362 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,423,933 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 16%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Other debt </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 16%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Total </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 493,362 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,423,933 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table><br/> The following debt repayments are due within the next five years: <br /> <br /><table id="new_id-7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="22"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Twelve months ending March 31, </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2016 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2017 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2018 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2019 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> 2020 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Total </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; WIDTH: 16%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Convertible notes payable </div> </td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 493,362 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,423,933 </div> </td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 16%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt"> Other debt </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 16%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> Total </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 848,758 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 81,813 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 493,362 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> &#x2014; </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 1,423,933 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table> 848758 81813 493362 0 0 1423933 0 0 0 0 0 0 848758 81813 493362 0 0 1423933 <div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt"> Note 8. Stockholders&#x2019; Equity </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Conversion of shares </div><br/><div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> During three months ended March 31, 2016, the holders of our convertible notes elected to convert $9,147 of principal and interest into 914,700 shares of common stock. See footnote 6. </div><br/><div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 6pt"> Discount on Beneficial Conversion Feature of Convertible Notes Payable </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> During the&nbsp;three months ended March 31, 2016, the Company issued convertible notes payable. At the time of the conversion, we recorded a discount to convertible notes payable to reflect the beneficial conversion feature of the note. </div><br/><table id="new_id-8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 75%" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date Issued </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Maturity Date </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Interest Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Conversion Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount of Note </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> March 31, 2016 </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"> March 31, 2019 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 10 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> % </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"> 40% of market </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company evaluated the application of ASC 470-50-40/55, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Debtor&#x2019;s Accounting</font> for a Modification or Exchange of Debt Instrument as it applies to the note listed above and concluded that the revised terms constituted a debt modification rather than a debt extinguishment because the present value of the cash flow under the terms of the new instrument was less than 10% from the present value of the remaining cash flows under the terms of the original note. No gain or loss on the modifications was required to be recognized. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company evaluated the terms of the new note in accordance with ASC Topic No. 815 - 40, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Derivatives and Hedging - Contracts in Entity&#x2019;s Own Stock</font> and determined that the underlying common stock is indexed to the Company&#x2019;s common stock. The Company determined that the conversion features did not meet the definition of a liability and therefore did not bifurcate the conversion feature and account for it as a separate derivative liability. The Company evaluated the conversion feature for a beneficial conversion feature. The effective conversion price was compared to the market price on the date of the note and was deemed to be less than the market value of underlying common stock at the inception of the note. Therefore, the Company recognized beneficial conversion features as show in the table above. The beneficial conversion features were recorded as an increase in additional paid-in capital and a discount to the Convertible Notes Payable. Discounts to the Convertible Notes Payable are amortized to interest expense over the life of the note. </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"> Imputed Interest </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> During three months ended March 31, 2016 and 2015, we recognized imputed interest of $671 and $725, respectively, as an increase to shareholders&#x2019; equity. </div><br/> 9147 914700 <table id="new_id-8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 75%" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"> Date Issued </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Maturity Date </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Interest Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Conversion Rate </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"> Amount of Note </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"> March 31, 2016 </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"> March 31, 2019 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 10 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> % </div> </td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 14%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"> 40% of market </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> <tr> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; WIDTH: 14%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> $ </div> </td> <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff" valign="bottom"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> 63,365 </div> </td> <td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&nbsp;</td> </tr> </table> 2019-03-31 0.10 40% of market 63365 <div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"> Note 9. Subsequent events </div><br/><div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"> The Company evaluated activity through the filing of this report, and noted that there were no subsequent events to disclose. </div><br/>