Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 14, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | ADVANCED MEDICAL ISOTOPE Corp | |
Entity Central Index Key | 1,449,349 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 19,999,985 | |
Trading Symbol | ADMD | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash | $ 15 | $ 179,032 |
Prepaid expenses | 30,451 | 26,211 |
Inventory | 8,475 | 8,475 |
Total current assets | 38,941 | 213,718 |
Fixed assets, net of accumulated depreciation | 2,207 | 4,420 |
Other assets: | ||
Patents and intellectual property | 35,482 | 35,482 |
Deposits | 644 | 644 |
Total other assets | 36,126 | 36,126 |
Total assets | 77,274 | 254,264 |
Current liabilities: | ||
Accounts payable and accrued expenses | 1,309,998 | 1,284,759 |
Accrued interest payable | 158,613 | 229,246 |
Payroll liabilities payable | 443,403 | 298,900 |
Loan from shareholders | 135,846 | |
Convertible notes payable, net | 1,266,768 | 1,788,384 |
Derivative liability | 518,637 | 4,235,016 |
Related party promissory note | 332,195 | 1,280,450 |
Liability for lack of authorized shares | 852,091 | |
Total current liabilities | 4,165,460 | 9,968,846 |
Commitments and contingencies | ||
Mezzanine Equity: | ||
Preferred stock, $.001 par value, 20,000,000 shares authorized Series A preferred stock, $.001 par value, 5,000,000 shares authorized; 4,342,216 and 1,627,000 shares issued and outstanding, respectively | 17,854,427 | 4,617,052 |
Total mezzanine equity | 17,854,427 | 4,617,052 |
Stockholders' equity (deficit): | ||
Common stock, $.001 par value; 2,000,000,000 shares authorized; 19,999,985 and 19,969,341 shares issued and outstanding, respectively (See Note 10) | 20,000 | 19,969 |
Paid in capital | 36,196,699 | 33,662,942 |
Accumulated deficit | (58,159,312) | (48,014,545) |
Total stockholders' equity (deficit) | (21,942,613) | (14,331,634) |
Total liabilities and stockholders' equity (deficit) | $ 77,274 | $ 254,264 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 20,000,000 | 20,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, issued | 19,999,985 | 19,969,341 |
Common stock, outstanding | 19,999,985 | 19,969,341 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 4,342,216 | 1,627,000 |
Preferred stock, outstanding | 4,342,216 | 1,627,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Statement [Abstract] | ||||
Revenues | $ 12,054 | $ 8,108 | $ 24,108 | |
Operating expenses | ||||
Cost of materials | 475 | |||
Sales and marketing expenses | 65,995 | 213,539 | ||
Depreciation and amortization | 738 | 936 | 2,212 | 4,934 |
Professional fees | 265,497 | 73,864 | 1,968,084 | 245,164 |
Stock options granted | 27,427 | 612,343 | 28,500 | |
Payroll expenses | 160,500 | 178,654 | 492,077 | 538,466 |
Loan fees | 8,664 | 216 | 603,861 | 13,917 |
General and administrative expenses | 137,593 | 52,195 | 683,788 | 146,337 |
Total operating expenses | 666,414 | 305,865 | 4,575,904 | 977,793 |
Operating loss | (666,414) | (293,811) | (4,567,796) | (953,685) |
Non-operating income (expense) | ||||
Interest expense | (85,830) | (1,819,017) | (535,563) | (2,471,367) |
Net gain (loss) on settlement of debt | (111,328) | 144,290 | (1,877,959) | 281,966 |
Loss on sale of stock | (54,561) | (54,561) | ||
Gain (loss) on derivative liability | 762,151 | (562,203) | (3,108,889) | 8,756,184 |
Non-operating income (expense), net | 510,432 | (2,236,930) | (5,576,972) | 6,566,783 |
Income (Loss) before Income Taxes | (155,982) | (2,530,741) | (10,144,768) | 5,613,098 |
Income Tax Provision | ||||
Net Income (Loss) | $ (155,982) | $ (2,530,741) | $ (10,144,768) | $ 5,613,098 |
Basic and Diluted Income (Loss) per Common Share | $ (0.01) | $ (0.13) | $ (0.51) | $ 0.29 |
Weighted average common shares outstanding | 19,999,985 | 19,969,341 | 19,987,347 | 19,417,447 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
CASH FLOW FROM OPERATING ACTIVITIES: | |||||
Net Income (Loss) | $ (155,982) | $ (2,530,741) | $ (10,144,768) | $ 5,613,098 | |
Adjustments to reconcile net income (loss) to net cash used by operating activities: | |||||
Depreciation of fixed assets | 738 | 936 | 2,213 | 3,595 | |
Amortization of licenses and intangible assets | 0 | 0 | 0 | 1,339 | |
Amortization of convertible debt discount | 379,290 | 563,458 | |||
Amortization of debt issuance costs | 18,917 | ||||
Common stock issued for interest | 20,328 | ||||
Preferred stock issued for loan fees | 603,861 | ||||
Preferred stock for services | 357,403 | ||||
Preferred stock for wages | 64,982 | ||||
Stock options and warrants issued for services | 782,226 | 28,500 | |||
Warrants issued for services | 1,069,353 | ||||
(Gain) loss on derivative liability | (762,151) | 562,203 | 3,108,889 | (8,756,184) | |
(Gain) loss on settlement of debt | 1,877,959 | (281,966) | |||
Penalties on notes payable | 1,488,410 | ||||
Changes in operating assets and liabilities: | |||||
Prepaid expenses | (4,240) | (4,568) | |||
Accounts payable | 25,239 | 48,108 | |||
Payroll liabilities | 144,503 | 196,271 | |||
Accrued interest | 87,265 | 383,868 | |||
Net cash used by operating activities | (1,645,825) | (676,826) | |||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||
Principal payments on capital lease | (39,481) | ||||
Debt issuance costs | (5,000) | ||||
Proceeds from exercise of warrants | 250 | ||||
Proceeds from short term debt | 168,000 | ||||
Proceeds from officer related party debt | 43,000 | ||||
Payments on convertible debt | (10,000) | (95,000) | |||
Proceeds from convertible debt | 1,476,558 | 612,500 | |||
Net cash provided by financing activities | 1,466,808 | 684,019 | |||
Net increase (decrease) in cash | (179,017) | 7,193 | |||
Cash, beginning of period | 179,032 | 203 | $ 203 | ||
CASH, END OF PERIOD | $ 15 | $ 7,396 | 15 | 7,396 | $ 179,032 |
Supplemental disclosures of cash flow information: | |||||
Cash paid for interest | 9,920 | ||||
Cash paid for income taxes |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | NOTE 1: BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying condensed consolidated financial statements of the Company have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures required by accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary to present fairly the results of operations of the Company for the period presented. The results of operations for the nine months ended September 30, 2016, are not necessarily indicative of the results that may be expected for any future period or the fiscal year ending December 31, 2016. Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments Fair Value of Financial Instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2016 and December 31, 2015, the balances reported for cash, prepaid expenses, accounts receivable, accounts payable, and accrued expenses, approximate the fair value because of their short maturities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were calculated using the Black-Scholes pricing model and are as follows at September 30, 2016: Total Level 1 Level 2 Level 3 Liabilities Derivative Liability 518,637 518,637 Total Liabilities Measured at Fair Value $ 518,637 $ - $ - $ 518,637 Consolidation Our financial statements consolidate all of our affiliates which consist of IsoPet Solutions, a wholly owned subsidiary which was established in May 2016. IsoPet Solutions will focus on bringing AMIs yttrium-90 brachytherapy products to veterinary oncologists to treat animals such as dogs and cats suffering from tumor cancers. IsoPet Solutions is currently establishing the infrastructure necessary to provide product to veterinary clinics including regulatory clearances and compliance. As of September 30, 2016 there have been no revenues nor expenses incurred in the IsoPet Solutions subsidiary. Recent Accounting Pronouncements There are no recently issued accounting pronouncements that the Company believes are applicable or would have a material impact on the financial statements of the Company. |
Going Concern
Going Concern | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2: GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has suffered recurring losses and used significant cash in support of its operating activities and the Companys cash position is not sufficient to support the Companys operations. Historically, the Company has relied upon outside investor funds to maintain the Companys operations and develop the Companys business. The Company anticipates it will continue to require funding from investors for working capital as well as business expansion during this fiscal year and it can provide no assurance that additional investor funds will be available on terms acceptable to us. These factors, among others, may indicate that the Company will be unable to continue as a going concern for a reasonable time. In addition, the Companys ability to continue as a going concern must be considered in light of the problems, expenses and complications frequently encountered by entrance into established markets and the competitive environment in which it operates. The Company anticipates a requirement of $1.5 million in funds over the next twelve months to maintain current operation activities. The Company may also require up to approximately $1.5 million to retire outstanding debt and past due payables, As of September 30, 2016 the Company has certain convertible promissory notes totaling approximately $260,000 that are currently due and payable ( Outstanding Notes The Company requires funding of at least $1.5 million per year to maintain current operating activities. Over the next 12-24 months, the Company believes it will cost approximately $5 million to $10 million to fund: (1) the FDA approval process and initial deployment of the brachytherapy products and (2) initiate regulatory approval processes outside of the United States. The continued deployment of the brachytherapy products and a worldwide regulatory approval effort will require additional resources and personnel. The principal variables in the timing and amount of spending for the brachytherapy products in the next 12-24 months will be the FDAs classification of the Companys brachytherapy products as Class II or Class III devices (or otherwise) and any requirements for additional studies which may possibly include clinical studies. Thereafter, the principal variables in the amount of the Companys spending and its financing requirements would be the timing of any approvals and the nature of the Companys arrangements with third parties for manufacturing, sales, distribution and licensing of those products and the products success in the U.S. and elsewhere. The Company intends to fund its activities through strategic transactions such as licensing and partnership agreements or additional capital raises. As of September 30, 2016, the Company has $15 cash on hand. There are currently commitments to vendors for products and services purchased, accrued compensation expenses and the Companys current lease commitments that in the absence of additional capital would result in a liquidation of the Company. The current level of cash is not enough to cover the fixed and variable obligations of the Company. Assuming the Company is successful in the Companys sales/development effort it believes that it will be able to raise additional funds through strategic agreements or the sale of the Companys stock to either current or new stockholders. There is no guarantee that the Company will be able to raise additional funds or to do so at an advantageous price. The financial statements do not include any adjustments relating to the recoverability and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Companys continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis and ultimately to attain profitability. The Company plans to seek additional funding to maintain its operations through debt and equity financing and to improve operating performance through a focus on strategic products and increased efficiencies in business processes and improvements to the cost structure. There is no assurance that the Company will be successful in its efforts to raise additional working capital or achieve profitable operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Fixed Assets
Fixed Assets | 9 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Fixed Assets | NOTE 3: FIXED ASSETS Fixed assets consist of the following at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Production equipment $ 1,390,182 $ 1,938,532 Building - 446,772 Leasehold improvements - 3,235 Office equipment 14,594 32,769 1,404,776 2,421,308 Less accumulated depreciation (1,402,569 ) (2,416,888 ) $ 2,207 $ 4,420 Depreciation expense for the above fixed assets for the three months ended September 30, 2016 and 2015, respectively was $738 and $936 and for the nine months ended September 30, 2016 and 2015, respectively, was $2,212 and $3,595. |
Intangible Assets
Intangible Assets | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | NOTE 4: INTANGIBLE ASSETS Intangible assets consist of the following at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 License Fee $ - $ 112,500 Less accumulated amortization - (112,500 ) Patents and intellectual property 35,482 35,482 Intangible assets net of accumulated amortization $ 35,482 $ 35,482 Amortization expense for the above intangible assets for the three months ended September 30, 2016 and 2015, respectively was $0 and $0 and for the nine months ended September 30, 2016 and 2015, respectively, was $0 and $1,339. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5: RELATED PARTY TRANSACTIONS Preferred Shares Issued to Officers The Company received $35,000 from the CEO during the nine months ended September 30, 2016 in exchange for 8% Convertible Promissory Notes that were converted to 35,000 shares of Series A Preferred stock during the period ended September 30, 2016. Additionally, the Company issued a total of 2,800 shares of Series A Preferred stock as loan fees. The Company issued 10,000 Series A Preferred shares to the CFO as a bonus during the nine months ended September 30, 2016. Rent Expenses The Company rents office space from a significant shareholder and director of the Company on a month to month basis with a monthly payment of $1,500. During the nine months ended September 30, 2016 the Company reached a Settlement Agreement regarding a dispute related to a previous rental agreement where,starting after July 31, 2012, the Company was renting production space for $11,904 per month on a month to month basis. This settlement resulted in a payment of $438,830 for rent, interest, and costs. The Company allocated $40,000 of this settlement towards rent expense for previous years. Rental expense for the three months and nine months ended September 30, 2016 and 2015 consisted of the following and is recorded in general and administrative expense: Three months ended Nine months ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Office and warehouse space $ - $ - $ 40,000 $ - Corporate office 4,500 4,500 13,500 13,500 Total Rental Expense $ 4,500 4,500 $ 53,500 $ 13,500 |
Convertible Notes Payable
Convertible Notes Payable | 9 Months Ended |
Sep. 30, 2016 | |
Convertible Notes Payable | |
Convertible Notes Payable | NOTE 6: CONVERTIBLE NOTES PAYABLE As of September 30, 2016 and December 31, 2015 the Company had the following convertible notes outstanding: September 30, 2016 December 31, 2015 Principal (net) Accrued Interest Principal (net) Accrued Interest July and August 2012 $1,060,000 Convertible Notes, 12% interest, due December 2013 and January 2014 (18 month notes), $110,813 and $165,000 outstanding, net of debt discount of $0 and $0, respectively $ 95,000 47,500 $ 165,000 69,712 (1) January 2014 $0 Convertible Note, 8% interest, due January 2015, $0 and $50,000 outstanding, net of debt discount of $0 and $0, respectively - - 50,000 7,682 (2) January 2014 $55,500 Convertible Note, 10% interest, due October 2014, with a $5,500 original issue discount, $10,990 and $10,990 outstanding, net of debt discount of $0 and $0, respectively 10,990 6,280 10,990 5,457 (3) February 2014 $46,080 Convertible Note, 10% interest, due February 2015, $0 and $0 outstanding, net of debt discount of $0 and $0, respectively - 2,358 - 2,358 (4) February 2014 $27,800 Convertible Note, 10% one-time interest, due February 2015, with a 10% original issue discount, $0 and $51,159 outstanding, net of debt discount of $0 and $49,626, respectively, settled remaining balance on September 30, 2015 for 5,000 shares of preferred and $20,000 cash payment due upon obtaining new financing - - 20,000 - (5) March 2014 $50,000 Convertible Note, 10% interest, due March 2015, $36,961 and $36,961 outstanding, net of debt discount of $0 and $0, respectively 36,961 9,339 36,961 6,572 (6) March 2014 $165,000 Convertible Note, 10% interest, due April 2015, with a $16,450 original issue discount, $0 and $61,301 outstanding, net of debt discount of $0 and $0, respectively - - 61,301 24,109 (7) April 2014 $32,000 Convertible Note, 10% interest, due April 2015, $22,042 and $22,042 outstanding, net of debt discount of $0 and $0, respectively 22,042 4,684 22,042 3,034 (8) April 2014 $46,080 Convertible Note, 10% interest due April 2015, $5,419 and $5,419 outstanding, net of debt discount of $0 and $0, respectively 5,419 4,608 5,419 4,608 (9) May 2014 $55,000 Convertible Note, 12% interest, due May 2015, with a $5,000 original issue discount, $0 and $46,090 outstanding, net of debt discount of $0 and $24,315, respectively, settled May 1, 2015 for $100,000, $75,000 paid in cash and the remaining $25,000 as a 10% convertible debenture paid May, 2016 - - 25,000 1,836 (10) June 2014 $28,800 Convertible Note, 10% interest due June 2015, $28,800 and $28,800 outstanding, net of debt discount of $0 and $0, respectively 28,800 2,880 28,800 2,880 (11) June 2014 $40,000 Convertible Note, 10% interest, due June 2015, $40,000 and $40,000 outstanding, net of debt discount of $0 and $0, respectively 40,000 9,045 40,000 6,049 (12) June 2014 $40,000 Convertible Note, 10% interest, due June 2015, $38,689 and $38,689 outstanding, net of debt discount of $0 and $0, respectively 38,689 8,747 38,689 5,851 (13) June 2014 $56,092 Convertible Note, 16% interest, due July 2015, with a $5,000 original issue discount, $0 and $56,092 outstanding, net of debt discount of $0 and $0, respectively - - 56,092 13,462 (14) July 2014 $37,500 Convertible Note, 12% interest, due July 2015, $37,015 and $37,015 outstanding, net of debt discount of $0 and $0, respectively, settled August 26, 2016 for $13,750 payments due September 19, 2016, October 19, 2016, November 19, 2016, and December 19, 2016. 41,250 - 37,015 6,377 (15) August 2014 $36,750 Convertible Note, 10% interest, due April 2015, $36,750 and $36,750 outstanding, net of debt discount of $0 and $0, respectively 36,750 8,289 36,750 5,538 (16) August 2014 $33,500 Convertible Note, 4% interest, due February 2015, with a $8,500 original issue discount, $33,500 and $33,500 outstanding, net of debt discount of $0 and $0, respectively, settled April 28, 2016 for 10,000 shares Series A preferred stock and two $10,000 payments paid on April 30, 2016 and July 1, 2016. - - 33,500 - (17) September 2014 $37,500 Convertible Note, 12% interest, due September 2015, with a $5,000 original issue discount, $0 and $36,263 outstanding, net of debt discount of $0 and $0, respectively - - 36,263 5,576 (18) January through December, 2015 $615,000 Convertible Notes, 8% interest, due September 30, 2015 and October 6, 2015, $0 and $0 outstanding, net of debt discount of $0 and $0, respectively - 18,266 - 18,264 (19) October through December 2015 $613,000 Convertible Notes, 8% interest, due June 30, 2016, $0 and $613,000 outstanding, net of debt discount of $0 and $560,913, respectively - 16,502 52,087 2,519 (20) January through March 2016 $345,000 Convertible Notes, 8% interest, due June 30, 2016, $0 and $0 outstanding, net of debt discount of $0 and $0, respectively - 1,541 - - (21) Penalties on notes past due 910,867 1,032,475 - Total Convertible Notes Payable, Net $ 1,266,768 $ 140,039 $ 1,788,384 $ 191,884 (1) Convertible Debt instruments accrue interest at an annual rate of 12% and a conversion price of $0.06. The Convertible Debt instruments also include Additional Investment Rights to enter into an additional convertible note with a corresponding amount of warrants equal to forty percent of the convertible note principal. During the twelve months ending December 31, 2015 the holders of the Convertible Debt instruments received a repayment of $5,000 and $0 of the outstanding principal and accrued interest balances. During the nine months ending September 30, 2016 the Company reached a settlement agreement with two holders of the Convertible Debt instruments. One was for the $50,000 debt plus the $22,055 interest, plus the 500,000 warrants, and with another for the $20,000 debt plus the $11,652 interest, plus the 250,000 warrants. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $0 and principal of $5,000 and accrued interest of $0 was repaid to the note holder. During the nine months ending September 30, 2016, total amortization was recorded in the amount of $0 and principal of $70,000 and accrued interest of $33,708 was repaid to the note holder. After repayments, conversions and amortization, principal totaled $95,000 and debt discount totaled $0 at September 30, 2016 and $165,000 and debt discount totaled $0 at December 31, 2015. During the nine months ending September 30, 2016 and the twelve months ending December 31, 2015 interest expense of $11,495 and $20,398, respectively, was recorded for the Convertible Debt Instruments. The $95,000 balance of the notes reached maturity during the year ended December 31, 2014 and are currently past due. (2) The Company borrowed $50,000 January 2014, due January 2015, with interest at 8%. The holder of the note has the right, after the first one hundred eighty days of the note (July 27, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.09 or 58% of the lowest trade price in the 10 trading days previous to the conversion. The Company recorded a debt discount of $50,000 related to the conversion feature and original issue discount, along with a derivative liability at inception (see Note 11: Derivative Liability). Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ended December 31, 2015, total amortization was recorded in the amount of $0. After amortization, principal totaled $50,000, debt discount totaled $0. The Company accrued an additional $372 and $3,989 interest for the nine months ending September 30, 2016 and the twelve months ended December 31, 2015, respectively. During the nine months ending September 30, 2016 the Company reached a settlement agreement with the note holder for the $50,000 debt plus the $8,054 of accrued interest. (3) The Company borrowed $55,500 January 2014, due October 2014, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (July 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.28 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The note has an original issue discount of $5,500 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $55,000 related to the conversion feature and original issue discount, along with a derivative liability at inception (see Note 11: Derivative Liability). Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. The Company accrued an additional $823 and $1,096 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. The balance of the note reached maturity during the year ended December 31, 2014 and is currently past due. (4) The Company borrowed $50,000 February 2014, due February 2015, with interest at 8%. The holder of the note has the right, after the first one hundred eighty days of the note (August 10, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.07 or 58% of the lowest trade price in the 10 trading days previous to the conversion. The Company recorded a debt discount of $50,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total principal of $46,080 and accrued interest of $3,358 was converted into shares of common stock (see Note 9: Stockholders Equity), resulting in a decrease to the debt discount of $19,577. After conversions and amortization, principal totaled $0, debt discount totaled $0, and accumulated interest totaled $2,358 at September 30, 2016 and December 31, 2015. (5) The Company borrowed $27,800 February 2014, due February 2015, with a one-time interest charge of 10%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.195 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The note has an original issue discount of $2,800 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. Additionally, the holder of the note added a market price adjustment of $53,192 on the note due to delay in issuance of conversion shares. The Company increased the amount of the note by $53,192 and recorded a debt discount of $53,192. Interest expense for the amortization of the debt discounts is calculated on a straight-line basis over the nine month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $25,877 and an additional $0 of interest was accrued. The balance of the note reached full maturity during the quarter ended June 30, 2015 and was settled September 30, 2015 for 5,000 shares of Series A Preferred Stock having a stated value of $5.00 per share and $20,000 cash payment due upon the consummation of a debt or equity financing resulting in gross proceeds to the Company of at least $500,000. During the nine months ended September 30, 2016, the Company reached a settlement agreement for the remaining $20,000 cash payment. (6) The Company borrowed $50,000 March 2014, due March 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (September 18, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company recorded a debt discount of $50,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $36,961 and debt discount totaled $0 for the periods ending September 30, 2016 and December 31, 2015. The Company accrued an additional $2,767 and $3,686 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (7) The Company borrowed $165,000 March 2014, due April 2015, with interest at 10%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $1.00 or 65% of the average of the three lowest trading prices in the 20 trading days previous to the conversion. The note has an original issue discount of $15,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $165,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total principal of $23,211 was converted into shares of common stock, resulting in a decrease to the debt discount of $6,991. After conversions and amortization, principal totaled $61,301, debt discount totaled $0, and accumulated interest totaled $24,109 at December 31, 2015. The Company accrued an additional $348 for the nine months ending September 30, 2016. During the nine months ending September 30, 2016 the Company reached a settlement agreement with the note holder for the $61,301 debt plus the $24,457 of accrued interest. (8) The Company borrowed $32,000 April 2014, due April 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (October 1, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company recorded a debt discount of $32,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $22,042, debt discount totaled $0, and accumulated interest totaled $3,034 at December 31, 2015. The Company accrued an additional $1,650 and $2,198 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (9) The Company borrowed $46,080 April 2014, due April 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (October 11, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.08 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note during the first ninety days following the date of the note. The Company recorded a debt discount of $46,080 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $5,419, debt discount totaled $0, and accumulated interest totaled $4,608 at September 30, 2016 and December 31, 2015. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (10) The Company borrowed $55,000 May 2014, due May 2015, with interest at 12%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.03 or 55% of the lowest trade price in the 25 trading days previous to the conversion. The note has an original issue discount of $5,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $55,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $24,315 and an additional $2,131 of interest was accrued. This note was settled May 1, 2015 for $100,000, $75,000 paid in cash and the remaining $25,000 as a 10% convertible debenture due May 31, 2016. The $25,000 convertible debenture is convertible at 55% of the lowest close for the last 270 days prior to the conversion notice or $0.03, but not less than $0.001. This settlement resulted in a reduction to notes payable of $46,090 and accrued interest payable of $5,516, an increase to note payable of $100,000 and a resulting $48,394 loss on settlement of debt. The Company accrued an additional $1,205 and $1,836 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. During the nine months ended September 30, 2016, the Company reached a settlement agreement with the note holder for the remaining $25,000 convertible debenture plus $3,041 of accrued interest. (11) The Company borrowed $28,800 June 2014, due June 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (December 20, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.08 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note during the first ninety days following the date of the note. The Company recorded a debt discount of $28,800 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $28,800, debt discount totaled $0, and accumulated interest totaled $2,880 at September 30, 2016 and December 31, 2015. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (12) The Company borrowed $40,000 June 2014, due June 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (December 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note and accrued interest during the first one hundred eighty days following the date of the note. During that time the amount of the prepayment is 145% of the outstanding amounts owed. The Company recorded a debt discount of $40,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $19,398 and an additional $3,989 of interest was accrued. The Company accrued an additional $2,995 interest for the nine months ending September 30, 2016. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (13) The Company borrowed $40,000 June 2014, due June 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (December 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note and accrued interest during the first one hundred eighty days following the date of the note. During that time the amount of any repayment is 145% of the outstanding amounts owed. The Company recorded a debt discount of $40,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $18,554 and an additional $3,858 of interest was accrued. The Company accrued an additional $2,896 interest for the nine months ending September 30, 2016. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (14) The Company borrowed $56,092 July 2014, due July 2015, with interest at 16%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $1.00 or 65% of the average of the three lowest trading prices in the 20 trading days previous to the conversion. The note has an original issue discount of $5,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $51,092 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $27,816 and an additional $8,950 of interest was accrued. The Company accrued an additional $319 interest for the nine months ending September 30, 2016 and reached a settlement agreement with the note holder for the $56,092 note balance plus $13,781 of accrued interest. (15) The Company borrowed $37,500 July 2014, due July 2015, with interest at 12%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 50% of the lowest of the lowest trading price in the 15 trading days previous to the conversion. The Company recorded a debt discount of $37,500 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $20,737 and an additional $4,430 of interest was accrued. The Company accrued an additional $2,901 interest for the nine months ending September 30. The balance of the note reached full maturity during the quarter ended September 30, 2015 and is currently past due. (16) The Company borrowed $36,750 August 2014, due August 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (February 10, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% (representing a discount rate of 40%) of the lowest trading price for the Common Stock during the twenty five trading day period including the date of the Conversion Notice. The Company has the right to prepay the note and accrued interest during the first one hundred eighty days following the date of the note. During that time the amount of any prepayment is 145% of the outstanding amounts owed. The Company recorded a debt discount of $36,750 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $22,755 and an additional $3,665 of interest was accrued. The Company accrued an additional $2,751 interest for the nine months ending September 30, 2016. The balance of the note reached full maturity during the quarter ended September 30, 2015 and is currently past due. (17) The Company borrowed $33,500 August 2014, due February 2015, with interest at 4%. The Company may prepay the note for a net payment of $33,500 at any time prior to November 27, 2014. After November 27, 2014, the holder has the right to refuse any further payments and to convert this note when it matures, February 27, 2015. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 60% (represents a 40% discount) of the average three lowest trade prices in the 20 trading days previous to the conversion. The note has an original issue discount of $6,500 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $32,807 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $10,367. The balance of the note reached full maturity during the quarter ended March 31, 2015 and is currently past due. During the nine months ending September 30, 2016 the Company reached a settlement agreement with the note holder for the $33,500 debt. (18) The Company borrowed $37,500 September 2014, due September 2015, with interest at 12%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 55% (represents a 45% discount) of the lowest trade prices in the 15 trading days previous to the conversion. The note has an original issue discount of $5,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $37,500 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $25,927 and an additional $4,341 of interest was accrued. The Company accrued an additional $333 interest for the nine months ending September 30, 2016 and reached a settlement agreement with the note holder for the $36,263 note balance plus $5,908 of accrued interest. (19) The Company borrowed $615,000 during the twelve months ending December 31, 2015, due September and October 2016, with interest at 8%. The holders of the notes have the right to convert the note and accrued interest into preferred stock at any time at a price per share of $1. The Company issued the note holders 48,200 Series A preferred shares as a loan origination fee. The Company recorded a debt discount of $615,000 related to the preferred shares issued as a loan origination fee, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve-month life of the note. During the twelve months ending December 31, 2015 total amortization in the amount of $615,000 and accrued interest in the amount of $18,264 was recorded towards these notes. As of December 31, 2015 these notes were converted into 615,000 Series A Convertible Preferred Shares. (20) The Company borrowed $613,000 October through December 2015, due June 2016, with interest at 8%. The holders of the notes have the right to convert the note and accrued interest into preferred stock at any time at a price per share of $1. The Company issued the note holder 49,040 Series A preferred shares as a loan origination fee. The Company recorded a debt discount of $613,000 related to the conversion feature, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the notes. During the nine months ending September 30, 2016 and the twelve months ending December 31, 2015, total amortization was recorded in the amount of $613,000 and $52,087 and an additional $13,676 and $2,350 of interest was accrued, respectively. As of September 30, 2016 these notes were converted into 613,000 Series A Convertible Preferred Shares. (21) The Company borrowed $345,000 January through March 2016, due June 2016, with interest at 8%. The holders of the notes have the right to convert the note and accrued interest into preferred stock at any time at a price per share of $1. The Company issued the note holder 29,200 Series A preferred shares as a loan origination fee. The Company recorded a debt discount of $345,000 related to the conversion feature, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the notes. During the nine months ending September 30, 2016 and the twelve months ending December 31, 2015, total amortization was recorded in the amount of $345,000 and $0 and an additional $1,541 and $0 of interest was accrued, respectively. As of September_30, 2016 these notes were converted into 345,000 Series A Convertible Preferred Shares. As of September 30, 2016, certain convertible promissory notes described in this Note 6 not otherwise converted into common stock of the Company, totaling approximately $260,000, were due and payable (Outstanding Notes). Although no assurances can be given, management is currently negotiating with the holders of certain of the Outstanding Notes to restructure the principal and accrued interest currently due and payable. The principal amount due under certain of the Outstanding Notes may be reduced do to the offset of certain amounts resulting from the previous issuance of shares of common stock by the Company upon conversions of the Outstanding Notes, which were issued based on a conversion price below $0.001 per share. The issuances are voidable under the laws of the State of Delaware, the Companys state of incorporation. The Company has issued a demand letter requiring the return to the Company of that number of shares of common stock issued upon conversion of Outstanding Notes equal to the value of the shares issued upon such conversion at a value below $0.001 per share (the Excess Amount . |
Common Stock Options And Warran
Common Stock Options And Warrants | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Common Stock Options And Warrants | NOTE 7: COMMON STOCK OPTIONS AND WARRANTS Common Stock Options The Company recognizes in the financial statements compensation related to all stock-based awards, including stock options and warrants, based on their estimated grant-date fair value. The Company has estimated expected forfeitures and is recognizing compensation expense only for those awards expected to vest. All compensation is recognized by the time the award vests. The following schedule summarizes the changes in the Companys stock options: Weighted Weighted Options Outstanding Average Average Number Exercise Remaining Aggregate Exercise Of Price Contractual Intrinsic Price Shares Per Share Life Value Per Share Balance at December 31, 2015 51,350 $ 12.00-15.00 7.12 years $ - $ 15.00 Options granted 2,370,000 $ 0.50-1.00 - - $ .60 Options expired (18,850 ) $ 15.00 - - $ 15.00 Balance at September 30, 2016 2,402,500 $ 0.50-15.00 4.31 years - $ 0.80 Exercisable at September 30, 2016 1,859,664 $ 0.50-15.00 4.18 years $ - $ 0.90 Common Stock Warrants The following schedule summarizes the changes in the Companys stock warrants: Weighted Weighted Warrants Outstanding Average Average Number Exercise Remaining Aggregate Exercise Of Price Contractual Intrinsic Price Shares Per Share Life Value Per Share Balance at December 31, 2015 6,801,003 0.10-10.00 1.9 years $ 2,052,699 $ 0.81 Warrants granted 200,000 $0.40-0.10 - - $ 0.40 Warrants expired/cancelled (3,454,831 ) 0.011-6.00 - - $ .13 Balance at September 30, 2016 3,546,171 0.10-10.00 0.77 years $ 2,700 $ 4.49 Exercisable at September 30, 2016 3,546,171 0.10-10.00 0.77 years $ 2,700 $ 4.49 |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 8: STOCKHOLDERS EQUITY Common Stock Issued for Cash and the Exercise of Options and Warrants As of December 31, 2015 there was an insufficient amount of the Companys authorized common stock to satisfy the potential number of shares that would be required to satisfy the outstanding options, warrants and convertible debt into common stock. As a result the Company recorded a liability in the amount of $852,091, offset by $852,091 of equity for the period ending December 31, 2015. During the nine months ended September 30, 2016, although the effective date was October 2015, the Company filed a Certificate of Amendment to perform a 1:100 reverse stock split which eliminated the shortage of sufficient authorized common shares. In April 2016, the Company issued 30,644 shares of common stock for cashless warrants exercise. Preferred Stock Issued for Cash and the Exercise of Warrants In March 2016, the Company issued 50,000 restricted shares of its Series A preferred stock in exchange for the cancellation of the warrants attached to the convertible notes received in July 2012. In June 2016, the Company issued 250,000 restricted shares of its Series A preferred stock, pursuant to a warrant exercise. In August 2016, the Company issued 12,854 restricted shares of its Series A preferred stock in exchange for the cancellation of the warrants attached to the convertible notes received in July 2015. In August and September 2016, the Company issued 46,666 shares of Series A preferred stock in exchange for $70,000 cash. Preferred Stock Issued for Loan Fees on Convertible Debt During the nine months ending September 30, 2016 the Company issued 47,840 shares of its Series A preferred stock as loan fees on convertible promissory notes totaling $623,000. During the nine months ending September 30, 2016 the Company issued 35,106 shares of its Series A preferred stock as loan fees on convertible promissory notes totaling $438,828 to a major shareholder and Director of the Company. During the nine months ending September 30, 2016 the Company issued 2,800 shares of its Series A preferred stock as loan fees on convertible promissory notes totaling $35,000 to the CEO of the Company. During the nine months ending September 30, 2016 the Company issued 30,000 shares of its Series A preferred stock as finders fees. Preferred Stock Issued for Debt Converted During the nine months ending September 30, 2016 the Company issued 654,791 Series A preferred stock in exchange for $1,636,779 of convertible debt received from a major shareholder and Director of the Company. During the nine months ending September 30, 2016 the Company issued 1,223,000 Series A preferred stock in exchange for $1,296,000 of convertible debt. During the nine months ending September 30, 2016 the Company issued 35,000 Series A preferred stock in exchange for $35,000 of convertible debt, to the CEO of the Company. Preferred Stock Issued for Debt Settled During the nine months ending September 30, 2016 the Company issued 185,600 Series A preferred stock in exchange for $184,762 of convertible debt, plus $50,711 of accrued interest. Preferred Stock Issued for Services and Wages During the nine months ending September 30, 2016 the Company issued 68,000 Series A preferred stock in exchange for $357,403 of services and $64,982 of wages. During the nine months ending September 30, 2016 the Company issued 10,000 Series A preferred stock to the CFO of the Company. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 9 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | NOTE 9: SUPPLEMENTAL CASH FLOW INFORMATION During the nine months ending September 30, 2016 the Company issued 250,000 shares of its Series A preferred stock in exchange for $250 as a warrant exercise. During the nine months ending September 30, 2016 the Company issued 30,000 shares of its Series A preferred stock as a finders fee at a value of $162,456. During the nine months ending September 30, 2016 the Company issued 47,840 shares of its Series A preferred stock as loan fees on convertible promissory notes totaling $623,000. During the nine months ending September 30, 2016 the Company issued 35,106 shares of its Series A preferred stock as loan fees on convertible promissory notes totaling $438,827 from a major shareholder and Director of the Company. During the nine months ending September 30, 2016 the Company issued 2,800 shares of its Series A preferred stock as loan fees on convertible promissory notes totaling $35,000 from the CEO of the Company. During the nine months ending September 30, 2016 the Company issued 185,600 Series A preferred stock in settlement for $184,762 of convertible debt, plus $50,711 of accrued interest. During the nine months ending September 30, 2016 the Company issued 35,000 Series A preferred stock in exchange for $35,000 of convertible debt, to the CEO of the Company. During the nine months ending September 30, 2016 the Company issued 1,203,000 Series A preferred stock in exchange for $1,256,000 of convertible debt, plus $13,962 of accrued interest, plus surrender of outstanding warrants. During the nine months ending September 30, 2016 the Company issued 654,791 Series A preferred stock in exchange for $1,636,779 of convertible debt received from a major shareholder and Director of the Company. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 10: SUBSEQUENT EVENTS The Company filed in September 2016 a Certificate of Amendment to perform a 1:100 reverse stock split with an effective date in October 2016. The Company has reflected to results of this reverse split in these financial statements for both the nine months ended September 30, 2016 and December 31, 2015. During October 2016, the Company issued 150,000 restricted Series A Preferred Shares pursuant to a nine month advisory agreement for advise on an appropriate investor outreach program and introduction to potential investors and/or business partners and corporate advisory to facilitate a potential uplisting of the Companys common stock to a qualified exchange. During October 2016, the Company received $29,500 in shareholder loans. During November 2016, the Company issued $812,500 in 10% convertible notes with $162,500 in original issue discounts and $6,000 in closing fees for net proceeds of $644,000. $377,332 was received at the initial closing with two tranches from four of the investors for an aggregate of $133,334 per tranche to be received over the next two months. In a subsequent closing in November 2016, the Company issued $310,000 in 10% convertible notes with $60,000 in original issue discounts for net proceeds of $250,000. The proceeds consisted of $161,203 of net cash, $77,533 previously funded shareholder advances, and accrued interest of $11,264 applied towards the purchase. In connection with the issuance of the 10% Convertible Notes, the Company issued 341,280 of Series A preferred stock as loan fees. A portion of these proceeds totaling $361,500 were used to pay off past due notes of $260,901, plus $48,398 accrued interest and eliminate $910,866 of penalties that had been accrued as of September 30, 2016. In addition to the cash payments paid to satisfy these past due notes, the Company issued 563,523 shares of common stock and 52,000 of Series A preferred stock as additional consideration to satisfy a portion of these obligations. The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no additional subsequent events to disclose. |
Basis of Presentation and Sig16
Basis of Presentation and Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair Value of Financial Instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2016 and December 31, 2015, the balances reported for cash, prepaid expenses, accounts receivable, accounts payable, and accrued expenses, approximate the fair value because of their short maturities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were calculated using the Black-Scholes pricing model and are as follows at September 30, 2016: Total Level 1 Level 2 Level 3 Liabilities Derivative Liability 518,637 518,637 Total Liabilities Measured at Fair Value $ 518,637 $ - $ - $ 518,637 |
Consolidation | Consolidation Our financial statements consolidate all of our affiliates which consist of IsoPet Solutions, a wholly owned subsidiary which was established in May 2016. IsoPet Solutions will focus on bringing AMIs yttrium-90 brachytherapy products to veterinary oncologists to treat animals such as dogs and cats suffering from tumor cancers. IsoPet Solutions is currently establishing the infrastructure necessary to provide product to veterinary clinics including regulatory clearances and compliance. As of September 30, 2016 there have been no revenues nor expenses incurred in the IsoPet Solutions subsidiary. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements There are no recently issued accounting pronouncements that the Company believes are applicable or would have a material impact on the financial statements of the Company. |
Basis of Presentation and Sig17
Basis of Presentation and Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Basis Of Presentation And Significant Accounting Policies Tables | |
Schedule of Fair Value of Financial Instruments | The Company measures certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were calculated using the Black-Scholes pricing model and are as follows at September 30, 2016: Total Level 1 Level 2 Level 3 Liabilities Derivative Liability 518,637 518,637 Total Liabilities Measured at Fair Value $ 518,637 $ - $ - $ 518,637 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Fixed Assets | Fixed assets consist of the following at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Production equipment $ 1,390,182 $ 1,938,532 Building - 446,772 Leasehold improvements - 3,235 Office equipment 14,594 32,769 1,404,776 2,421,308 Less accumulated depreciation (1,402,569 ) (2,416,888 ) $ 2,207 $ 4,420 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets | Intangible assets consist of the following at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 License Fee $ - $ 112,500 Less accumulated amortization - (112,500 ) Patents and intellectual property 35,482 35,482 Intangible assets net of accumulated amortization $ 35,482 $ 35,482 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transaction | Rental expense for the three months and nine months ended September 30, 2016 and 2015 consisted of the following and is recorded in general and administrative expense: Three months ended Nine months ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Office and warehouse space $ - $ - $ 40,000 $ - Corporate office 4,500 4,500 13,500 13,500 Total Rental Expense $ 4,500 4,500 $ 53,500 $ 13,500 |
Convertible Notes Payable (Tabl
Convertible Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Convertible Notes Payable Tables | |
Schedule of Convertible Notes Payable | As of September 30, 2016 and December 31, 2015 the Company had the following convertible notes outstanding: September 30, 2016 December 31, 2015 Principal (net) Accrued Interest Principal (net) Accrued Interest July and August 2012 $1,060,000 Convertible Notes, 12% interest, due December 2013 and January 2014 (18 month notes), $110,813 and $165,000 outstanding, net of debt discount of $0 and $0, respectively $ 95,000 47,500 $ 165,000 69,712 (1) January 2014 $0 Convertible Note, 8% interest, due January 2015, $0 and $50,000 outstanding, net of debt discount of $0 and $0, respectively - - 50,000 7,682 (2) January 2014 $55,500 Convertible Note, 10% interest, due October 2014, with a $5,500 original issue discount, $10,990 and $10,990 outstanding, net of debt discount of $0 and $0, respectively 10,990 6,280 10,990 5,457 (3) February 2014 $46,080 Convertible Note, 10% interest, due February 2015, $0 and $0 outstanding, net of debt discount of $0 and $0, respectively - 2,358 - 2,358 (4) February 2014 $27,800 Convertible Note, 10% one-time interest, due February 2015, with a 10% original issue discount, $0 and $51,159 outstanding, net of debt discount of $0 and $49,626, respectively, settled remaining balance on September 30, 2015 for 5,000 shares of preferred and $20,000 cash payment due upon obtaining new financing - - 20,000 - (5) March 2014 $50,000 Convertible Note, 10% interest, due March 2015, $36,961 and $36,961 outstanding, net of debt discount of $0 and $0, respectively 36,961 9,339 36,961 6,572 (6) March 2014 $165,000 Convertible Note, 10% interest, due April 2015, with a $16,450 original issue discount, $0 and $61,301 outstanding, net of debt discount of $0 and $0, respectively - - 61,301 24,109 (7) April 2014 $32,000 Convertible Note, 10% interest, due April 2015, $22,042 and $22,042 outstanding, net of debt discount of $0 and $0, respectively 22,042 4,684 22,042 3,034 (8) April 2014 $46,080 Convertible Note, 10% interest due April 2015, $5,419 and $5,419 outstanding, net of debt discount of $0 and $0, respectively 5,419 4,608 5,419 4,608 (9) May 2014 $55,000 Convertible Note, 12% interest, due May 2015, with a $5,000 original issue discount, $0 and $46,090 outstanding, net of debt discount of $0 and $24,315, respectively, settled May 1, 2015 for $100,000, $75,000 paid in cash and the remaining $25,000 as a 10% convertible debenture paid May, 2016 - - 25,000 1,836 (10) June 2014 $28,800 Convertible Note, 10% interest due June 2015, $28,800 and $28,800 outstanding, net of debt discount of $0 and $0, respectively 28,800 2,880 28,800 2,880 (11) June 2014 $40,000 Convertible Note, 10% interest, due June 2015, $40,000 and $40,000 outstanding, net of debt discount of $0 and $0, respectively 40,000 9,045 40,000 6,049 (12) June 2014 $40,000 Convertible Note, 10% interest, due June 2015, $38,689 and $38,689 outstanding, net of debt discount of $0 and $0, respectively 38,689 8,747 38,689 5,851 (13) June 2014 $56,092 Convertible Note, 16% interest, due July 2015, with a $5,000 original issue discount, $0 and $56,092 outstanding, net of debt discount of $0 and $0, respectively - - 56,092 13,462 (14) July 2014 $37,500 Convertible Note, 12% interest, due July 2015, $37,015 and $37,015 outstanding, net of debt discount of $0 and $0, respectively, settled August 26, 2016 for $13,750 payments due September 19, 2016, October 19, 2016, November 19, 2016, and December 19, 2016. 41,250 - 37,015 6,377 (15) August 2014 $36,750 Convertible Note, 10% interest, due April 2015, $36,750 and $36,750 outstanding, net of debt discount of $0 and $0, respectively 36,750 8,289 36,750 5,538 (16) August 2014 $33,500 Convertible Note, 4% interest, due February 2015, with a $8,500 original issue discount, $33,500 and $33,500 outstanding, net of debt discount of $0 and $0, respectively, settled April 28, 2016 for 10,000 shares Series A preferred stock and two $10,000 payments paid on April 30, 2016 and July 1, 2016. - - 33,500 - (17) September 2014 $37,500 Convertible Note, 12% interest, due September 2015, with a $5,000 original issue discount, $0 and $36,263 outstanding, net of debt discount of $0 and $0, respectively - - 36,263 5,576 (18) January through December, 2015 $615,000 Convertible Notes, 8% interest, due September 30, 2015 and October 6, 2015, $0 and $0 outstanding, net of debt discount of $0 and $0, respectively - 18,266 - 18,264 (19) October through December 2015 $613,000 Convertible Notes, 8% interest, due June 30, 2016, $0 and $613,000 outstanding, net of debt discount of $0 and $560,913, respectively - 16,502 52,087 2,519 (20) January through March 2016 $345,000 Convertible Notes, 8% interest, due June 30, 2016, $0 and $0 outstanding, net of debt discount of $0 and $0, respectively - 1,541 - - (21) Penalties on notes past due 910,867 1,032,475 - Total Convertible Notes Payable, Net $ 1,266,768 $ 140,039 $ 1,788,384 $ 191,884 (1) Convertible Debt instruments accrue interest at an annual rate of 12% and a conversion price of $0.06. The Convertible Debt instruments also include Additional Investment Rights to enter into an additional convertible note with a corresponding amount of warrants equal to forty percent of the convertible note principal. During the twelve months ending December 31, 2015 the holders of the Convertible Debt instruments received a repayment of $5,000 and $0 of the outstanding principal and accrued interest balances. During the nine months ending September 30, 2016 the Company reached a settlement agreement with two holders of the Convertible Debt instruments. One was for the $50,000 debt plus the $22,055 interest, plus the 500,000 warrants, and with another for the $20,000 debt plus the $11,652 interest, plus the 250,000 warrants. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $0 and principal of $5,000 and accrued interest of $0 was repaid to the note holder. During the nine months ending September 30, 2016, total amortization was recorded in the amount of $0 and principal of $70,000 and accrued interest of $33,708 was repaid to the note holder. After repayments, conversions and amortization, principal totaled $95,000 and debt discount totaled $0 at September 30, 2016 and $165,000 and debt discount totaled $0 at December 31, 2015. During the nine months ending September 30, 2016 and the twelve months ending December 31, 2015 interest expense of $11,495 and $20,398, respectively, was recorded for the Convertible Debt Instruments. The $95,000 balance of the notes reached maturity during the year ended December 31, 2014 and are currently past due. (2) The Company borrowed $50,000 January 2014, due January 2015, with interest at 8%. The holder of the note has the right, after the first one hundred eighty days of the note (July 27, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.09 or 58% of the lowest trade price in the 10 trading days previous to the conversion. The Company recorded a debt discount of $50,000 related to the conversion feature and original issue discount, along with a derivative liability at inception (see Note 11: Derivative Liability). Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ended December 31, 2015, total amortization was recorded in the amount of $0. After amortization, principal totaled $50,000, debt discount totaled $0. The Company accrued an additional $372 and $3,989 interest for the nine months ending September 30, 2016 and the twelve months ended December 31, 2015, respectively. During the nine months ending September 30, 2016 the Company reached a settlement agreement with the note holder for the $50,000 debt plus the $8,054 of accrued interest. (3) The Company borrowed $55,500 January 2014, due October 2014, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (July 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.28 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The note has an original issue discount of $5,500 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $55,000 related to the conversion feature and original issue discount, along with a derivative liability at inception (see Note 11: Derivative Liability). Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. The Company accrued an additional $823 and $1,096 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. The balance of the note reached maturity during the year ended December 31, 2014 and is currently past due. (4) The Company borrowed $50,000 February 2014, due February 2015, with interest at 8%. The holder of the note has the right, after the first one hundred eighty days of the note (August 10, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.07 or 58% of the lowest trade price in the 10 trading days previous to the conversion. The Company recorded a debt discount of $50,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total principal of $46,080 and accrued interest of $3,358 was converted into shares of common stock (see Note 9: Stockholders Equity), resulting in a decrease to the debt discount of $19,577. After conversions and amortization, principal totaled $0, debt discount totaled $0, and accumulated interest totaled $2,358 at September 30, 2016 and December 31, 2015. (5) The Company borrowed $27,800 February 2014, due February 2015, with a one-time interest charge of 10%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.195 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The note has an original issue discount of $2,800 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. Additionally, the holder of the note added a market price adjustment of $53,192 on the note due to delay in issuance of conversion shares. The Company increased the amount of the note by $53,192 and recorded a debt discount of $53,192. Interest expense for the amortization of the debt discounts is calculated on a straight-line basis over the nine month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $25,877 and an additional $0 of interest was accrued. The balance of the note reached full maturity during the quarter ended June 30, 2015 and was settled September 30, 2015 for 5,000 shares of Series A Preferred Stock having a stated value of $5.00 per share and $20,000 cash payment due upon the consummation of a debt or equity financing resulting in gross proceeds to the Company of at least $500,000. During the nine months ended September 30, 2016, the Company reached a settlement agreement for the remaining $20,000 cash payment. (6) The Company borrowed $50,000 March 2014, due March 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (September 18, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company recorded a debt discount of $50,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $36,961 and debt discount totaled $0 for the periods ending September 30, 2016 and December 31, 2015. The Company accrued an additional $2,767 and $3,686 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (7) The Company borrowed $165,000 March 2014, due April 2015, with interest at 10%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $1.00 or 65% of the average of the three lowest trading prices in the 20 trading days previous to the conversion. The note has an original issue discount of $15,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $165,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total principal of $23,211 was converted into shares of common stock, resulting in a decrease to the debt discount of $6,991. After conversions and amortization, principal totaled $61,301, debt discount totaled $0, and accumulated interest totaled $24,109 at December 31, 2015. The Company accrued an additional $348 for the nine months ending September 30, 2016. During the nine months ending September 30, 2016 the Company reached a settlement agreement with the note holder for the $61,301 debt plus the $24,457 of accrued interest. (8) The Company borrowed $32,000 April 2014, due April 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (October 1, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company recorded a debt discount of $32,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $22,042, debt discount totaled $0, and accumulated interest totaled $3,034 at December 31, 2015. The Company accrued an additional $1,650 and $2,198 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (9) The Company borrowed $46,080 April 2014, due April 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (October 11, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.08 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note during the first ninety days following the date of the note. The Company recorded a debt discount of $46,080 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $5,419, debt discount totaled $0, and accumulated interest totaled $4,608 at September 30, 2016 and December 31, 2015. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (10) The Company borrowed $55,000 May 2014, due May 2015, with interest at 12%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.03 or 55% of the lowest trade price in the 25 trading days previous to the conversion. The note has an original issue discount of $5,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $55,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $24,315 and an additional $2,131 of interest was accrued. This note was settled May 1, 2015 for $100,000, $75,000 paid in cash and the remaining $25,000 as a 10% convertible debenture due May 31, 2016. The $25,000 convertible debenture is convertible at 55% of the lowest close for the last 270 days prior to the conversion notice or $0.03, but not less than $0.001. This settlement resulted in a reduction to notes payable of $46,090 and accrued interest payable of $5,516, an increase to note payable of $100,000 and a resulting $48,394 loss on settlement of debt. The Company accrued an additional $1,205 and $1,836 interest for the nine months ending September 30, 2016 and twelve months ended December 31, 2015, respectively. During the nine months ended September 30, 2016, the Company reached a settlement agreement with the note holder for the remaining $25,000 convertible debenture plus $3,041 of accrued interest. (11) The Company borrowed $28,800 June 2014, due June 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (December 20, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.08 or 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note during the first ninety days following the date of the note. The Company recorded a debt discount of $28,800 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. After conversions and amortization, principal totaled $28,800, debt discount totaled $0, and accumulated interest totaled $2,880 at September 30, 2016 and December 31, 2015. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (12) The Company borrowed $40,000 June 2014, due June 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (December 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note and accrued interest during the first one hundred eighty days following the date of the note. During that time the amount of the prepayment is 145% of the outstanding amounts owed. The Company recorded a debt discount of $40,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $19,398 and an additional $3,989 of interest was accrued. The Company accrued an additional $2,995 interest for the nine months ending September 30, 2016. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (13) The Company borrowed $40,000 June 2014, due June 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (December 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. The Company has the right to prepay the note and accrued interest during the first one hundred eighty days following the date of the note. During that time the amount of any repayment is 145% of the outstanding amounts owed. The Company recorded a debt discount of $40,000 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $18,554 and an additional $3,858 of interest was accrued. The Company accrued an additional $2,896 interest for the nine months ending September 30, 2016. The balance of the note reached full maturity during the quarter ended June 30, 2015 and is currently past due. (14) The Company borrowed $56,092 July 2014, due July 2015, with interest at 16%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $1.00 or 65% of the average of the three lowest trading prices in the 20 trading days previous to the conversion. The note has an original issue discount of $5,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $51,092 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $27,816 and an additional $8,950 of interest was accrued. The Company accrued an additional $319 interest for the nine months ending September 30, 2016 and reached a settlement agreement with the note holder for the $56,092 note balance plus $13,781 of accrued interest. (15) The Company borrowed $37,500 July 2014, due July 2015, with interest at 12%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 50% of the lowest of the lowest trading price in the 15 trading days previous to the conversion. The Company recorded a debt discount of $37,500 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $20,737 and an additional $4,430 of interest was accrued. The Company accrued an additional $2,901 interest for the nine months ending September 30. The balance of the note reached full maturity during the quarter ended September 30, 2015 and is currently past due. (16) The Company borrowed $36,750 August 2014, due August 2015, with interest at 10%. The holder of the note has the right, after the first one hundred eighty days of the note (February 10, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% (representing a discount rate of 40%) of the lowest trading price for the Common Stock during the twenty five trading day period including the date of the Conversion Notice. The Company has the right to prepay the note and accrued interest during the first one hundred eighty days following the date of the note. During that time the amount of any prepayment is 145% of the outstanding amounts owed. The Company recorded a debt discount of $36,750 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $22,755 and an additional $3,665 of interest was accrued. The Company accrued an additional $2,751 interest for the nine months ending September 30, 2016. The balance of the note reached full maturity during the quarter ended September 30, 2015 and is currently past due. (17) The Company borrowed $33,500 August 2014, due February 2015, with interest at 4%. The Company may prepay the note for a net payment of $33,500 at any time prior to November 27, 2014. After November 27, 2014, the holder has the right to refuse any further payments and to convert this note when it matures, February 27, 2015. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 60% (represents a 40% discount) of the average three lowest trade prices in the 20 trading days previous to the conversion. The note has an original issue discount of $6,500 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $32,807 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $10,367. The balance of the note reached full maturity during the quarter ended March 31, 2015 and is currently past due. During the nine months ending September 30, 2016 the Company reached a settlement agreement with the note holder for the $33,500 debt. (18) The Company borrowed $37,500 September 2014, due September 2015, with interest at 12%. The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 55% (represents a 45% discount) of the lowest trade prices in the 15 trading days previous to the conversion. The note has an original issue discount of $5,000 which has been added to the principal balance of the note and is being recognized in interest expense over the life of the note. The Company recorded a debt discount of $37,500 related to the conversion feature and original issue discount, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve month life of the note. During the twelve months ending December 31, 2015, total amortization was recorded in the amount of $25,927 and an additional $4,341 of interest was accrued. The Company accrued an additional $333 interest for the nine months ending September 30, 2016 and reached a settlement agreement with the note holder for the $36,263 note balance plus $5,908 of accrued interest. (19) The Company borrowed $615,000 during the twelve months ending December 31, 2015, due September and October 2016, with interest at 8%. The holders of the notes have the right to convert the note and accrued interest into preferred stock at any time at a price per share of $1. The Company issued the note holders 48,200 Series A preferred shares as a loan origination fee. The Company recorded a debt discount of $615,000 related to the preferred shares issued as a loan origination fee, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the twelve-month life of the note. During the twelve months ending December 31, 2015 total amortization in the amount of $615,000 and accrued interest in the amount of $18,264 was recorded towards these notes. As of December 31, 2015 these notes were converted into 615,000 Series A Convertible Preferred Shares. (20) The Company borrowed $613,000 October through December 2015, due June 2016, with interest at 8%. The holders of the notes have the right to convert the note and accrued interest into preferred stock at any time at a price per share of $1. The Company issued the note holder 49,040 Series A preferred shares as a loan origination fee. The Company recorded a debt discount of $613,000 related to the conversion feature, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the notes. During the nine months ending September 30, 2016 and the twelve months ending December 31, 2015, total amortization was recorded in the amount of $613,000 and $52,087 and an additional $13,676 and $2,350 of interest was accrued, respectively. As of September 30, 2016 these notes were converted into 613,000 Series A Convertible Preferred Shares. (21) The Company borrowed $345,000 January through March 2016, due June 2016, with interest at 8%. The holders of the notes have the right to convert the note and accrued interest into preferred stock at any time at a price per share of $1. The Company issued the note holder 29,200 Series A preferred shares as a loan origination fee. The Company recorded a debt discount of $345,000 related to the conversion feature, along with a derivative liability at inception. Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the notes. During the nine months ending September 30, 2016 and the twelve months ending December 31, 2015, total amortization was recorded in the amount of $345,000 and $0 and an additional $1,541 and $0 of interest was accrued, respectively. As of September_30, 2016 these notes were converted into 345,000 Series A Convertible Preferred Shares. As of September 30, 2016, certain convertible promissory notes described in this Note 6 not otherwise converted into common stock of the Company, totaling approximately $260,000, were due and payable (Outstanding Notes). Although no assurances can be given, management is currently negotiating with the holders of certain of the Outstanding Notes to restructure the principal and accrued interest currently due and payable. The principal amount due under certain of the Outstanding Notes may be reduced do to the offset of certain amounts resulting from the previous issuance of shares of common stock by the Company upon conversions of the Outstanding Notes, which were issued based on a conversion price below $0.001 per share. The issuances are voidable under the laws of the State of Delaware, the Companys state of incorporation. The Company has issued a demand letter requiring the return to the Company of that number of shares of common stock issued upon conversion of Outstanding Notes equal to the value of the shares issued upon such conversion at a value below $0.001 per share (the Excess Amount . |
Common Stock Options and Warr22
Common Stock Options and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Schedule Summarizes Changes in Stock Option | The following schedule summarizes the changes in the Companys stock options: Weighted Weighted Options Outstanding Average Average Number Exercise Remaining Aggregate Exercise Of Price Contractual Intrinsic Price Shares Per Share Life Value Per Share Balance at December 31, 2015 51,350 $ 12.00-15.00 7.12 years $ - $ 15.00 Options granted 2,370,000 $ 0.50-1.00 - - $ .60 Options expired (18,850 ) $ 15.00 - - $ 15.00 Balance at September 30, 2016 2,402,500 $ 0.50-15.00 4.31 years - $ 0.80 Exercisable at September 30, 2016 1,859,664 $ 0.50-15.00 4.18 years $ - $ 0.90 |
Schedule Summarizes Changes in Stock Warrants | The following schedule summarizes the changes in the Companys stock warrants: Weighted Weighted Warrants Outstanding Average Average Number Exercise Remaining Aggregate Exercise Of Price Contractual Intrinsic Price Shares Per Share Life Value Per Share Balance at December 31, 2015 6,801,003 0.10-10.00 1.9 years $ 2,052,699 $ 0.81 Warrants granted 200,000 $0.40-0.10 - - $ 0.40 Warrants expired/cancelled (3,454,831 ) 0.011-6.00 - - $ .13 Balance at September 30, 2016 3,546,171 0.10-10.00 0.77 years $ 2,700 $ 4.49 Exercisable at September 30, 2016 3,546,171 0.10-10.00 0.77 years $ 2,700 $ 4.49 |
Basis of Presentation and Sig23
Basis of Presentation and Significant Accounting Policies - Schedule of Fair Value of Financial Instruments (Details) | Sep. 30, 2016USD ($) |
Derivative Liability | $ 518,637 |
Total Liabilities Measured at Fair Value | 518,637 |
Level 1 [Member] | |
Derivative Liability | |
Total Liabilities Measured at Fair Value | |
Level 2 [Member] | |
Derivative Liability | |
Total Liabilities Measured at Fair Value | |
Level 3 [Member] | |
Derivative Liability | 518,637 |
Total Liabilities Measured at Fair Value | $ 518,637 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Current operation activities | $ 1,500,000 | |
Retire outstanding debt | 1,500,000 | |
Convertible promissory notes | 260,000 | |
Cash on hand | 15 | $ 179,032 |
Minimum [Member] | ||
Capital | 5,000,000 | |
Maximum [Member] | ||
Capital | $ 10,000,000 |
Fixed Assets (Details Narrative
Fixed Assets (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 738 | $ 936 | $ 2,213 | $ 3,595 |
Fixed Assets - Schedule of Fixe
Fixed Assets - Schedule of Fixed Assets (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Total Fixed assets | $ 1,404,776 | $ 2,421,308 |
Less accumulated depreciation | (1,402,569) | (2,416,888) |
Net Fixed assets | 2,207 | 4,420 |
Production Equipment [Member] | ||
Total Fixed assets | 1,390,182 | 1,938,532 |
Building [Member] | ||
Total Fixed assets | 446,772 | |
Leasehold Improvements [Member] | ||
Total Fixed assets | 3,235 | |
Office Equipment [Member] | ||
Total Fixed assets | $ 14,594 | $ 32,769 |
Intangible Assets (Details Narr
Intangible Assets (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Intangible Assets Details Narrative | ||||
Amortization expense of intangible assets | $ 0 | $ 0 | $ 0 | $ 1,339 |
Intangible Assets - Schedule o
Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
License Fee | $ 112,500 | |
Less accumulated amortization | (112,500) | |
Patents and intellectual property | 35,482 | 35,482 |
Intangible assets net of accumulated amortization | $ 35,482 | $ 35,482 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Jul. 31, 2012 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 |
Proceeds from related party | $ 43,000 | |||||
Payment of rent | 1,500 | |||||
Rent expenses | $ 11,904 | $ 4,500 | $ 4,500 | 53,500 | $ 13,500 | |
Settlement Agreement [Member] | ||||||
Payment of rent | 438,830 | |||||
Rent expenses | $ 40,000 | |||||
Series A Preferred Stock [Member] | ||||||
Common stock issued for debt conversions, shares | 1,223,000 | |||||
Number of preferred shares issued | 4,342,216 | 4,342,216 | 1,627,000 | |||
Chief Executive Officer [Member] | ||||||
Proceeds from related party | $ 35,000 | |||||
Percentage of convertible promissory note converted | 8.00% | |||||
Chief Executive Officer [Member] | Series A Preferred Stock [Member] | ||||||
Common stock issued for debt conversions, shares | 35,000 | |||||
Number of shares issued for loan fees | 2,800 | |||||
Chief Financial Officer [Member] | Series A Preferred Stock [Member] | ||||||
Number of preferred shares issued | 10,000 | 10,000 |
Related Party Transaction - Sch
Related Party Transaction - Schedule of Related Party Transaction (Details) - USD ($) | Jul. 31, 2012 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 |
Related Party Transactions [Abstract] | |||||
Office and warehouse space | $ 40,000 | ||||
Corporate office | 4,500 | 4,500 | 13,500 | 13,500 | |
Total Rental Expense | $ 11,904 | $ 4,500 | $ 4,500 | $ 53,500 | $ 13,500 |
Convertible Notes Payable (Deta
Convertible Notes Payable (Details Narrative) - USD ($) | Sep. 30, 2015 | May 01, 2015 | Sep. 30, 2014 | Aug. 31, 2014 | Jul. 31, 2014 | May 31, 2014 | Apr. 30, 2014 | Feb. 28, 2014 | Jan. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Amortization of debt | $ 379,290 | $ 563,458 | |||||||||||
Convertible notes payable | 260,000 | ||||||||||||
Accrued interest payable | 140,039 | $ 191,884 | |||||||||||
Series A Preferred Stock [Member] | |||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | 1,296,000 | ||||||||||||
Accrued interest payable | $ 50,711 | ||||||||||||
Common stock issued for Debt conversions, shares | 1,223,000 | ||||||||||||
Convertible Notes Payable One [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 12.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 0.06 | ||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | 5,000 | ||||||||||||
Convertible debt instrument accrued interest | 0 | ||||||||||||
Repayments of outstanding principal | $ 70,000 | 5,000 | |||||||||||
Repayments of accrued interest | 33,708 | 0 | |||||||||||
Amortization of debt | 0 | 0 | |||||||||||
Convertible notes payable | 95,000 | 165,000 | $ 95,000 | ||||||||||
Debt discount | 0 | 0 | |||||||||||
Interest expense debt | 11,495 | 20,398 | |||||||||||
Accrued interest payable | 47,500 | 69,712 | |||||||||||
Convertible Notes Payable One [Member] | Holder One [Member] | |||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | 50,000 | ||||||||||||
Convertible debt instrument accrued interest | $ 22,055 | ||||||||||||
Number of warrant | 500,000 | ||||||||||||
Convertible Notes Payable One [Member] | Holder Two [Member] | |||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | $ 20,000 | ||||||||||||
Convertible debt instrument accrued interest | $ 11,652 | ||||||||||||
Number of warrant | 250,000 | ||||||||||||
Convertible Notes Payable Two [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 8.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 0.09 | ||||||||||||
Convertible debt instrument accrued interest | $ 372 | 3,989 | |||||||||||
Amortization of debt | 0 | ||||||||||||
Convertible notes payable | 50,000 | 50,000 | |||||||||||
Debt discount | $ 50,000 | 0 | |||||||||||
Debt maturity date description | January 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (July 27, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.09 or 58% of the lowest trade price in the 10 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 50,000 | ||||||||||||
Accumulated interest | 8,054 | ||||||||||||
Accrued interest payable | 7,682 | ||||||||||||
Convertible Notes Payable Three [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 0.28 | ||||||||||||
Convertible debt instrument accrued interest | 823 | 1,096 | |||||||||||
Debt discount | $ 55,000 | ||||||||||||
Debt maturity date description | October 2,014 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (July 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.28 or 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 55,500 | ||||||||||||
Debt instrument original issue discount | $ 5,500 | ||||||||||||
Accrued interest payable | 6,280 | 5,457 | |||||||||||
Convertible Notes Payable Four [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 8.00% | ||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | 46,080 | ||||||||||||
Convertible debt instrument accrued interest | 3,358 | ||||||||||||
Convertible notes payable | 0 | ||||||||||||
Debt discount | $ 50,000 | ||||||||||||
Debt maturity date description | February 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (August 10, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.07 or 58% of the lowest trade price in the 10 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 50,000 | ||||||||||||
Accumulated interest | 0 | ||||||||||||
Debt discount decrease amount | 19,577 | ||||||||||||
Accrued interest payable | 2,358 | 2,358 | |||||||||||
Convertible Notes Payable Five [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | $ 53,192 | 20,000 | |||||||||||
Amortization of debt | 25,877 | ||||||||||||
Debt discount | $ 53,192 | ||||||||||||
Debt maturity date description | February 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.195 or 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 27,800 | ||||||||||||
Accumulated interest | 0 | ||||||||||||
Debt instrument original issue discount | 2,800 | ||||||||||||
Accrued interest payable | |||||||||||||
Note payable increase amount | $ 53,192 | ||||||||||||
Common stock issued for Debt conversions, shares | 5,000 | ||||||||||||
Convertible Notes Payable Five [Member] | Series A Preferred Stock [Member] | |||||||||||||
Convertible debt instruments conversion price per share | $ 5 | $ 5 | |||||||||||
Convertible debt instrument conversion of converted into outstanding principal | $ 20,000 | ||||||||||||
Common stock issued for Debt conversions, shares | 5,000 | ||||||||||||
Convertible Notes Payable Six [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument accrued interest | $ 2,767 | 3,686 | |||||||||||
Convertible notes payable | 36,961 | ||||||||||||
Debt discount | $ 50,000 | 0 | 0 | ||||||||||
Debt maturity date description | March 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (September 18, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 50,000 | ||||||||||||
Accrued interest payable | 9,339 | 6,572 | |||||||||||
Convertible Notes Payable Seven [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument conversion of converted into outstanding principal | 23,211 | ||||||||||||
Convertible debt instrument accrued interest | 348 | ||||||||||||
Convertible notes payable | 61,301 | 61,301 | |||||||||||
Debt discount | $ 165,000 | 0 | |||||||||||
Debt maturity date description | April 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $1.00 or 65% of the average of the three lowest trading prices in the 20 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 165,000 | ||||||||||||
Accumulated interest | $ 15,000 | 24,109 | |||||||||||
Debt discount decrease amount | 6,991 | ||||||||||||
Accrued interest payable | 24,109 | ||||||||||||
Convertible Notes Payable Eight [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument accrued interest | 1,650 | 2,198 | |||||||||||
Convertible notes payable | 22,042 | ||||||||||||
Debt discount | $ 32,000 | 0 | |||||||||||
Debt maturity date description | April 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (October 1, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 32,000 | ||||||||||||
Accumulated interest | 3,034 | ||||||||||||
Accrued interest payable | 4,684 | 3,034 | |||||||||||
Convertible Notes Payable Nine [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible notes payable | $ 5,419 | 5,419 | |||||||||||
Debt discount | $ 46,080 | 0 | |||||||||||
Debt maturity date description | April 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (October 11, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.08 or 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 46,080 | ||||||||||||
Accumulated interest | 4,608 | ||||||||||||
Accrued interest payable | 4,608 | 4,608 | |||||||||||
Convertible Notes Payable Ten [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 12.00% | ||||||||||||
Convertible debt instrument accrued interest | 3,041 | 2,131 | |||||||||||
Repayments of outstanding principal | $ 25,000 | ||||||||||||
Repayments of accrued interest | 1,205 | 1,836 | |||||||||||
Amortization of debt | 24,315 | ||||||||||||
Convertible notes payable | $ 46,090 | ||||||||||||
Debt discount | $ 5,000 | 55,000 | |||||||||||
Debt maturity date description | May 2,015 | ||||||||||||
Debt instrument convertible description | The $25,000 convertible debenture is convertible at 55% of the lowest close for the last 270 days prior to the conversion notice or $0.03, but not less than $0.001. | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.03 or 55% of the lowest trade price in the 25 trading days previous to the conversion. | |||||||||||
Borrowed amount | $ 55,000 | ||||||||||||
Debt discount decrease amount | $ 100,000 | ||||||||||||
Accrued interest payable | 5,516 | 1,836 | |||||||||||
Gain on debt restructuring | $ 48,394 | ||||||||||||
Debt maturity date | May 31, 2016 | ||||||||||||
Notes payable | $ 100,000 | ||||||||||||
Debt instrument issued for warrants as loan origination fee | 25,000 | ||||||||||||
Convertible Notes Payable Eleven [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Amortization of debt | $ 28,800 | ||||||||||||
Debt discount | $ 28,800 | 0 | |||||||||||
Debt maturity date description | June 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (December 20, 2014), to convert the note and accrued interest into common stock at a price per share equal to the lesser of $0.08 or 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 28,800 | ||||||||||||
Accrued interest payable | 2,880 | 2,880 | |||||||||||
Convertible Notes Payable Twelve [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument accrued interest | 2,995 | 3,989 | |||||||||||
Amortization of debt | 19,398 | ||||||||||||
Debt discount | $ 40,000 | ||||||||||||
Debt maturity date description | June 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (December 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 40,000 | ||||||||||||
Accrued interest payable | 9,045 | 6,049 | |||||||||||
Debt prepayment percentage | 145.00% | ||||||||||||
Convertible Notes Payable Thirteen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument accrued interest | 2,896 | 3,858 | |||||||||||
Amortization of debt | 18,554 | ||||||||||||
Debt discount | $ 40,000 | ||||||||||||
Debt maturity date description | June 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (December 23, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% of the lowest trade price in the 25 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 40,000 | ||||||||||||
Accrued interest payable | 8,747 | 5,851 | |||||||||||
Debt prepayment percentage | 145.00% | ||||||||||||
Convertible Notes Payable Fourteen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 16.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 1 | ||||||||||||
Convertible debt instrument accrued interest | 319 | 8,950 | |||||||||||
Amortization of debt | 27,816 | ||||||||||||
Convertible notes payable | 56,092 | ||||||||||||
Debt discount | $ 51,092 | ||||||||||||
Debt maturity date description | July 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to the lesser of $1.00 or 65% of the average of the three lowest trading prices in the 20 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 56,092 | ||||||||||||
Accumulated interest | 13,761 | ||||||||||||
Debt instrument original issue discount | $ 5,000 | ||||||||||||
Accrued interest payable | 13,462 | ||||||||||||
Convertible Notes Payable Fifteen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 12.00% | ||||||||||||
Convertible debt instrument accrued interest | 2,901 | 4,430 | |||||||||||
Amortization of debt | 20,737 | ||||||||||||
Debt discount | $ 37,500 | ||||||||||||
Debt maturity date description | July 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 50% of the lowest of the lowest trading price in the 15 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 37,500 | ||||||||||||
Accrued interest payable | 6,377 | ||||||||||||
Convertible Notes Payable Sixteen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 10.00% | ||||||||||||
Convertible debt instrument accrued interest | 2,751 | 3,665 | |||||||||||
Amortization of debt | 22,755 | ||||||||||||
Debt discount | $ 36,750 | ||||||||||||
Debt maturity date description | August 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right, after the first one hundred eighty days of the note (February 10, 2014), to convert the note and accrued interest into common stock at a price per share equal to 60% (representing a discount rate of 40%) of the lowest trading price for the Common Stock during the twenty five trading day period including the date of the Conversion Notice. | ||||||||||||
Borrowed amount | $ 36,750 | ||||||||||||
Accrued interest payable | 8,289 | 5,538 | |||||||||||
Debt prepayment percentage | 145.00% | ||||||||||||
Convertible Notes Payable Seventeen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 4.00% | ||||||||||||
Repayments of outstanding principal | $ 33,500 | ||||||||||||
Amortization of debt | 10,367 | ||||||||||||
Debt discount | $ 32,807 | ||||||||||||
Debt maturity date description | February 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 60% (represents a 40% discount) of the average three lowest trade prices in the 20 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 33,500 | ||||||||||||
Debt instrument original issue discount | $ 6,500 | ||||||||||||
Accrued interest payable | |||||||||||||
Debt instrument issued for warrants as loan origination fee | 33,500 | ||||||||||||
Convertible Notes Payable Eighteen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 12.00% | ||||||||||||
Convertible debt instrument accrued interest | 333 | ||||||||||||
Amortization of debt | 25,927 | ||||||||||||
Convertible notes payable | $ 36,263 | ||||||||||||
Debt discount | $ 37,500 | ||||||||||||
Debt maturity date description | September 2,015 | ||||||||||||
Debt instrument convertible description | The holder of the note has the right to convert the note and accrued interest into common stock at a price per share equal to 55% (represents a 45% discount) of the lowest trade prices in the 15 trading days previous to the conversion. | ||||||||||||
Borrowed amount | $ 37,500 | ||||||||||||
Accumulated interest | 5,908 | ||||||||||||
Debt instrument original issue discount | $ 5,000 | ||||||||||||
Accrued interest payable | $ 5,576 | ||||||||||||
Convertible Notes Payable Nineteen [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 8.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 1 | ||||||||||||
Convertible debt instrument accrued interest | $ 18,264 | ||||||||||||
Debt discount | $ 615,000 | ||||||||||||
Debt maturity date description | September and October 2016 | ||||||||||||
Borrowed amount | $ 615,000 | ||||||||||||
Accrued interest payable | 18,266 | 18,264 | |||||||||||
Convertible Notes Payable Nineteen [Member] | Series A Preferred Stock [Member] | |||||||||||||
Amortization of debt | $ 615,000 | ||||||||||||
Common stock issued for Debt conversions, shares | 48,200 | ||||||||||||
Convertible Notes Payable Twenty [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 8.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 1 | ||||||||||||
Convertible debt instrument accrued interest | 52,087 | $ 613,000 | |||||||||||
Amortization of debt | 13,676 | 2,350 | |||||||||||
Debt discount | $ 613,000 | ||||||||||||
Debt maturity date description | June 2,016 | ||||||||||||
Accrued interest payable | $ 16,502 | $ 2,519 | |||||||||||
Debt maturity date | Jun. 30, 2016 | ||||||||||||
Convertible Notes Payable Twenty [Member] | Series A Preferred Stock [Member] | |||||||||||||
Common stock issued for Debt conversions, shares | 49,040 | ||||||||||||
Convertible Notes Payable Twenty One [Member] | |||||||||||||
Convertible debt instruments annual interest rate | 8.00% | ||||||||||||
Convertible debt instruments conversion price per share | $ 1 | ||||||||||||
Convertible debt instrument accrued interest | $ 0 | $ 0 | |||||||||||
Amortization of debt | 345,000 | 573 | |||||||||||
Convertible notes payable | 260,000 | ||||||||||||
Debt discount | $ 345,000 | ||||||||||||
Debt maturity date description | June 2,016 | ||||||||||||
Borrowed amount | $ 345,000 | ||||||||||||
Accrued interest payable | $ 1,541 | ||||||||||||
Warrants exercise price per share | $ 0.001 | ||||||||||||
Convertible Notes Payable Twenty One [Member] | Series A Preferred Stock [Member] | |||||||||||||
Convertible debt instrument accrued interest | $ 910,867 | ||||||||||||
Common stock issued for Debt conversions, shares | 345,000 | ||||||||||||
Debt instrument issued for warrants as loan origination fee | 29,200 |
Convertible Notes Payable - Sch
Convertible Notes Payable - Schedule of Convertible Notes Payable (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | May 01, 2015 |
Principal (net) | $ 1,266,768 | $ 1,788,384 | |
Accrued Interest | 140,039 | 191,884 | |
Penalties on notes past due principal (net) | 910,867 | 1,032,475 | |
Penalties on notes in default accrued interest | |||
Convertible Notes Payable One [Member] | |||
Principal (net) | 95,000 | 165,000 | |
Accrued Interest | 47,500 | 69,712 | |
Convertible Notes Payable Two [Member] | |||
Principal (net) | 50,000 | ||
Accrued Interest | 7,682 | ||
Convertible Notes Payable Three [Member] | |||
Principal (net) | 10,990 | 10,990 | |
Accrued Interest | 6,280 | 5,457 | |
Convertible Notes Payable Four [Member] | |||
Principal (net) | |||
Accrued Interest | 2,358 | 2,358 | |
Convertible Notes Payable Five [Member] | |||
Principal (net) | 20,000 | ||
Accrued Interest | |||
Convertible Notes Payable Six [Member] | |||
Principal (net) | 36,961 | 36,961 | |
Accrued Interest | 9,339 | 6,572 | |
Convertible Notes Payable Seven [Member] | |||
Principal (net) | 61,301 | ||
Accrued Interest | 24,109 | ||
Convertible Notes Payable Eight [Member] | |||
Principal (net) | 22,042 | 22,042 | |
Accrued Interest | 4,684 | 3,034 | |
Convertible Notes Payable Nine [Member] | |||
Principal (net) | 5,419 | 5,419 | |
Accrued Interest | 4,608 | 4,608 | |
Convertible Notes Payable Ten [Member] | |||
Principal (net) | 25,000 | ||
Accrued Interest | 1,836 | $ 5,516 | |
Convertible Notes Payable Eleven [Member] | |||
Principal (net) | 28,800 | 28,800 | |
Accrued Interest | 2,880 | 2,880 | |
Convertible Notes Payable Twelve [Member] | |||
Principal (net) | 40,000 | 40,000 | |
Accrued Interest | 9,045 | 6,049 | |
Convertible Notes Payable Thirteen [Member] | |||
Principal (net) | 38,689 | 38,689 | |
Accrued Interest | 8,747 | 5,851 | |
Convertible Notes Payable Fourteen [Member] | |||
Principal (net) | 56,092 | ||
Accrued Interest | 13,462 | ||
Convertible Notes Payable Fifteen [Member] | |||
Principal (net) | 41,250 | 37,015 | |
Accrued Interest | 6,377 | ||
Convertible Notes Payable Sixteen [Member] | |||
Principal (net) | 36,750 | 36,750 | |
Accrued Interest | 8,289 | 5,538 | |
Convertible Notes Payable Seventeen [Member] | |||
Principal (net) | 33,500 | ||
Accrued Interest | |||
Convertible Notes Payable Eighteen [Member] | |||
Principal (net) | 36,263 | ||
Accrued Interest | 5,576 | ||
Convertible Notes Payable Nineteen [Member] | |||
Principal (net) | |||
Accrued Interest | 18,266 | 18,264 | |
Convertible Notes Payable Twenty [Member] | |||
Principal (net) | 52,087 | ||
Accrued Interest | 16,502 | 2,519 | |
Convertible Notes Payable Twenty One [Member] | |||
Principal (net) | |||
Accrued Interest | $ 1,541 |
Convertible Notes Payable - S33
Convertible Notes Payable - Schedule of Convertible Notes Payable (Details) (Parenthetical) - USD ($) | Aug. 26, 2016 | Sep. 30, 2015 | May 01, 2015 | Aug. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Apr. 28, 2016 |
Original issue discount | $ 18,917 | |||||||
Series A Preferred Stock [Member] | ||||||||
Common stock issued for debt conversions, shares | 1,223,000 | |||||||
Convertible Notes Payable One [Member] | ||||||||
Debt principal amount | $ 1,060,000 | |||||||
Debt interest rate | 12.00% | |||||||
Debt maturity date description | December 2013 and January 2014 | |||||||
Debt term | 18 months | |||||||
Convertible note payable | $ 110,813 | $ 110,813 | ||||||
Debt discount | 0 | 0 | ||||||
Repayments of outstanding principal | 70,000 | 5,000 | ||||||
Convertible Notes Payable Two [Member] | ||||||||
Debt principal amount | $ 0 | |||||||
Debt interest rate | 8.00% | |||||||
Debt maturity date description | January 2,015 | |||||||
Convertible note payable | $ 0 | 50,000 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Three [Member] | ||||||||
Debt principal amount | $ 55,500 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | October 2,014 | |||||||
Convertible note payable | $ 10,990 | 10,990 | ||||||
Debt discount | 0 | 0 | ||||||
Original issue discount | 5,500 | |||||||
Convertible Notes Payable Four [Member] | ||||||||
Debt principal amount | $ 46,080 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | February 2,015 | |||||||
Convertible note payable | $ 0 | 0 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Five [Member] | ||||||||
Debt principal amount | $ 27,800 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | February 2,015 | |||||||
Convertible note payable | $ 0 | 51,159 | ||||||
Debt discount | 0 | 49,626 | ||||||
Original issue discount | $ 0 | |||||||
Common stock issued for debt conversions, shares | 5,000 | |||||||
Debt instrument amount | $ 20,000 | |||||||
Convertible Notes Payable Five [Member] | Series A Preferred Stock [Member] | ||||||||
Common stock issued for debt conversions, shares | 5,000 | |||||||
Convertible Notes Payable Six [Member] | ||||||||
Debt principal amount | $ 50,000 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | March 2,015 | |||||||
Convertible note payable | $ 36,961 | 36,961 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Seven [Member] | ||||||||
Debt principal amount | $ 165,000 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | April 2,015 | |||||||
Convertible note payable | $ 0 | 61,301 | ||||||
Debt discount | 0 | 0 | ||||||
Original issue discount | 16,450 | |||||||
Convertible Notes Payable Eight [Member] | ||||||||
Debt principal amount | $ 32,000 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | April 2,015 | |||||||
Convertible note payable | $ 22,042 | 22,042 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Nine [Member] | ||||||||
Debt principal amount | $ 46,080 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | April 2,015 | |||||||
Convertible note payable | $ 5,419 | 5,419 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Ten [Member] | ||||||||
Debt principal amount | $ 55,000 | |||||||
Debt interest rate | 10.00% | 12.00% | ||||||
Debt maturity date description | May 2,015 | |||||||
Convertible note payable | $ 0 | 46,090 | ||||||
Debt discount | 0 | 24,315 | ||||||
Original issue discount | 5,000 | |||||||
Debt instrument amount | $ 100,000 | |||||||
Debt annual payment amount | 75,000 | |||||||
Repayments of outstanding principal | $ 25,000 | |||||||
Debt maturity date | May 31, 2016 | |||||||
Convertible Notes Payable Eleven [Member] | ||||||||
Debt principal amount | $ 28,800 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | June 2,015 | |||||||
Convertible note payable | $ 28,800 | 28,800 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Twelve [Member] | ||||||||
Debt principal amount | $ 40,000 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | June 2,015 | |||||||
Convertible note payable | $ 40,000 | 40,000 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Thirteen [Member] | ||||||||
Debt principal amount | $ 40,000 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | June 2,015 | |||||||
Convertible note payable | $ 38,689 | 38,689 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Fourteen [Member] | ||||||||
Debt principal amount | $ 56,092 | |||||||
Debt interest rate | 16.00% | |||||||
Debt maturity date description | July 2,015 | |||||||
Convertible note payable | $ 0 | 56,092 | ||||||
Debt discount | 0 | 0 | ||||||
Original issue discount | 5,000 | |||||||
Convertible Notes Payable Fifteen [Member] | ||||||||
Debt principal amount | $ 36,750 | |||||||
Debt interest rate | 12.00% | |||||||
Debt maturity date description | September 19, 2016, October 19, 2016, November 19, 2016, and December 19, 2016. | July 2,015 | ||||||
Convertible note payable | $ 37,015 | 37,015 | ||||||
Debt discount | 0 | 0 | ||||||
Debt instrument amount | $ 13,750 | |||||||
Convertible Notes Payable Sixteen [Member] | ||||||||
Debt principal amount | $ 36,750 | |||||||
Debt interest rate | 10.00% | |||||||
Debt maturity date description | April 2,015 | |||||||
Convertible note payable | $ 36,750 | 36,750 | ||||||
Debt discount | 0 | 0 | ||||||
Convertible Notes Payable Seventeen [Member] | ||||||||
Debt principal amount | $ 33,500 | |||||||
Debt interest rate | 4.00% | |||||||
Debt maturity date description | February 2,015 | |||||||
Convertible note payable | $ 33,500 | 33,500 | ||||||
Debt discount | 0 | 0 | ||||||
Original issue discount | 8,500 | |||||||
Repayments of outstanding principal | $ 33,500 | |||||||
Convertible Notes Payable Seventeen [Member] | Series A Preferred Stock [Member] | ||||||||
Debt annual payment amount | $ 10,000 | |||||||
Convertible note settlement shares | 10,000 | |||||||
Convertible Notes Payable Eighteen [Member] | ||||||||
Debt principal amount | $ 37,500 | |||||||
Debt interest rate | 12.00% | |||||||
Debt maturity date description | September 2,015 | |||||||
Convertible note payable | $ 0 | 36,263 | ||||||
Debt discount | 0 | 0 | ||||||
Original issue discount | 5,000 | |||||||
Convertible Notes Payable Nineteen [Member] | ||||||||
Debt principal amount | $ 615,000 | |||||||
Debt interest rate | 8.00% | |||||||
Debt maturity date description | September 30, 2015 and October 6, 2015 | |||||||
Convertible note payable | $ 0 | 0 | ||||||
Debt discount | 0 | $ 0 | ||||||
Convertible Notes Payable Nineteen [Member] | Series A Preferred Stock [Member] | ||||||||
Common stock issued for debt conversions, shares | 48,200 | |||||||
Convertible Notes Payable Twenty [Member] | ||||||||
Debt principal amount | $ 613,000 | |||||||
Debt interest rate | 8.00% | |||||||
Convertible note payable | $ 0 | $ 613,000 | ||||||
Debt discount | $ 0 | $ 560,913 | ||||||
Debt maturity date | Jun. 30, 2016 | |||||||
Convertible Notes Payable Twenty [Member] | Series A Preferred Stock [Member] | ||||||||
Common stock issued for debt conversions, shares | 49,040 | |||||||
Convertible Notes Payable Twenty One [Member] | ||||||||
Debt principal amount | $ 345,000 | |||||||
Debt interest rate | 8.00% | |||||||
Debt maturity date description | June 30, 2016 | |||||||
Convertible note payable | $ 0 | $ 0 | ||||||
Debt discount | $ 0 | $ 0 | ||||||
Convertible Notes Payable Twenty One [Member] | Series A Preferred Stock [Member] | ||||||||
Common stock issued for debt conversions, shares | 345,000 |
Common Stock Options and Warr34
Common Stock Options and Warrants - Schedule Summarizes Changes in Stock Option (Details) - Stock Options | 9 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Number Of Shares Options Outstanding Beginning Balance | shares | 51,350 |
Number of Options Granted | shares | 2,370,000 |
Number of Options Expired | shares | (18,850) |
Number Of Shares Options Outstanding Ending Balance | shares | 2,402,500 |
Number Of Shares Options Exercisable Ending Balance | shares | 1,859,664 |
Weighted Average Exercise Price Expired | $ 15 |
Weighted Average Remaining Contractual Life (in years) Outstanding, Beginning | 7 years 1 month 13 days |
Weighted Average Remaining Contractual Life (in years) Outstanding, Ending | 4 years 3 months 22 days |
Weighted Average Remaining Contractual Life (in years) Exercisable | 4 years 2 months 5 days |
Aggregate Intrinsic Value Outstanding | $ | |
Aggregate Intrinsic Value Exercisable | $ | |
Weighted Average Exercise Price Per Share Outstanding Beginning | $ 15 |
Weighted Average Exercise Price Per Share Options granted | .60 |
Weighted Average Exercise Price Per Share Options expired | 15 |
Weighted Average Exercise Price Per Share Outstanding Ending | 0.80 |
Weighted Average Exercise Price Per Share Exercisable | 0.90 |
Minimum [Member] | |
Weighted Average Exercise Price Outstanding | 12 |
Weighted Average Exercise Price Granted | 0.50 |
Weighted Average Exercise Price Outstanding | 0.50 |
Exercise Price Per Share Exercisable | 0.50 |
Maximum [Member] | |
Weighted Average Exercise Price Outstanding | 15 |
Weighted Average Exercise Price Granted | 1 |
Weighted Average Exercise Price Outstanding | 15 |
Exercise Price Per Share Exercisable | $ 15 |
Common Stock Options and Warr35
Common Stock Options and Warrants - Schedule Summarizes Changes in Stock Warrants (Details) - Warrants [Member] | 9 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Number of Shares, Warrants Outstanding Beginning | shares | 6,801,003 |
Number of Shares, Warrants Granted | shares | 200,000 |
Number of Shares, Warrants expired/cancelled | shares | (3,454,831) |
Number of Shares, Warrants Outstanding Ending | shares | 3,546,171 |
Number of Shares, Warrants Exercisable Ending | shares | 3,546,171 |
Weighted Average Remaining Contractual Life (in years) Warrants Outstanding, Beginning | 1 year 10 months 24 days |
Weighted Average Remaining Contractual Life (in years) Warrants Outstanding Ending | 9 months 7 days |
Weighted Average Remaining Contractual Life (in years) Warrants Exercisable | 9 months 7 days |
Aggregate Intrinsic Value Outstanding | $ | $ 2,052,699 |
Aggregate Intrinsic Value Outstanding | $ | 2,700 |
Aggregate Intrinsic Value Exercisable | $ | $ 2,700 |
Weighted Average Exercise Price Per Share Exercise Price Warrants Beginning | $ 0.81 |
Weighted Average Exercise Price Per Share Exercise Price Warrants Granted | 0.40 |
Weighted Average Exercise Price Per Share Exercise Price Warrants Expired/cancelled | .13 |
Weighted Average Exercise Price Per Share Exercise Price Warrants Ending | 4.49 |
Weighted Average Exercise Price Per Share Exercise Price Warrants Exercisable | 4.49 |
Minimum [Member] | |
Weighted Average Exercise Price Outstanding | 0.10 |
Exercise Price Per Share Warrants Granted | 0.40 |
Exercise Price Per Share Warrants Expired/cancelled | 0.011 |
Weighted Average Exercise Price Outstanding | 0.10 |
Exercise Price Per Share Exercisable | 0.10 |
Maximum [Member] | |
Weighted Average Exercise Price Outstanding | 10 |
Exercise Price Per Share Warrants Granted | 0.10 |
Exercise Price Per Share Warrants Expired/cancelled | 6 |
Weighted Average Exercise Price Outstanding | 10 |
Exercise Price Per Share Exercisable | $ 10 |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | |||||
Aug. 31, 2016 | Jun. 30, 2016 | Apr. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Liability for lack of authorized shares | $ 852,091 | ||||||
Amount of equity used to offset liability | 852,091 | ||||||
Reverse stock split | 1:100 reverse stock split | ||||||
Number of common stock shares issued for cashless warrant exercise | 30,644 | ||||||
Accrued interest | $ 140,039 | $ 191,884 | |||||
Preferred stock for services | 357,403 | ||||||
Preferred stock for wages | $ 64,982 | ||||||
Series A Preferred Stock [Member] | |||||||
Number of restricted shares issued | 50,000 | ||||||
Number of shares issued | 46,666 | 46,666 | |||||
Number of shares issued, value | $ 70,000 | $ 70,000 | |||||
Number of preferred stock shares issued for loan fees on convertible promissory notes | 47,840 | ||||||
Number of preferred stock issued for loan fees on convertible promissory notes | $ 623,000 | ||||||
Shares of finders fees | 30,000 | ||||||
Common stock issued for debt conversions, shares | 1,223,000 | ||||||
Issued shares for debt converted, value | $ 1,296,000 | ||||||
Number of preferred stock issued for debt settled | 185,600 | ||||||
Issued preferred stock, value | $ 184,762 | ||||||
Accrued interest | $ 50,711 | ||||||
Series A Preferred Stock [Member] | Major Shareholder and Director [Member] | |||||||
Common stock issued for debt conversions, shares | 654,791 | ||||||
Issued shares for debt converted, value | $ 1,636,779 | ||||||
Series A Preferred Stock [Member] | CEO [Member] | |||||||
Common stock issued for debt conversions, shares | 35,000 | ||||||
Issued shares for debt converted, value | $ 35,000 | ||||||
Series A Preferred Stock [Member] | Chief Financial Officer [Member] | |||||||
Number of preferred stock issued for debt settled | 10,000 | ||||||
Series A Preferred Stock 1 [Member] | |||||||
Number of restricted shares issued | 250,000 | ||||||
Number of preferred stock shares issued for loan fees on convertible promissory notes | 35,106 | ||||||
Number of preferred stock issued for loan fees on convertible promissory notes | $ 438,828 | ||||||
Number of preferred stock issued for debt settled | 68,000 | ||||||
Preferred stock for services | $ 357,403 | ||||||
Preferred stock for wages | $ 64,982 | ||||||
Restricted Series A Preferred Stock [Member] | |||||||
Number of restricted shares issued | 12,854 | ||||||
Series A Preferred Stock 2 [Member] | |||||||
Number of preferred stock shares issued for loan fees on convertible promissory notes | 2,800 | ||||||
Number of preferred stock issued for loan fees on convertible promissory notes | $ 35,000 |
Supplemental Cash Flow Inform37
Supplemental Cash Flow Information (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Accrued interest | $ 140,039 | $ 191,884 |
Series A Preferred Stock [Member] | ||
Number of preferred shares issued in exchange | 250,000 | |
Warrant exercise amount | $ 250 | |
Shares of finders fees | 30,000 | |
Value of finders fees | $ 162,456 | |
Number of preferred stock shares issued for loan fees on convertible promissory notes | 47,840 | |
Number of preferred stock issued for loan fees on convertible promissory notes | $ 623,000 | |
Common stock issued for debt conversions, shares | 1,223,000 | |
Issued shares for debt converted, value | $ 1,296,000 | |
Accrued interest | $ 50,711 | |
Number of preferred stock issued for debt settled | 185,600 | |
Issued preferred stock, value | $ 184,762 | |
Series A Preferred Stock [Member] | Major Shareholder and Director [Member] | ||
Common stock issued for debt conversions, shares | 654,791 | |
Issued shares for debt converted, value | $ 1,636,779 | |
Series A Preferred Stock [Member] | CEO [Member] | ||
Common stock issued for debt conversions, shares | 35,000 | |
Issued shares for debt converted, value | $ 35,000 | |
Series A Preferred Stock [Member] | Promissory Note [Member] | Major Shareholder and Director [Member] | ||
Common stock issued for debt conversions, shares | 35,106 | |
Issued shares for debt converted, value | $ 438,827 | |
Series A Preferred Stock [Member] | Promissory Note [Member] | CEO [Member] | ||
Common stock issued for debt conversions, shares | 2,800 | |
Issued shares for debt converted, value | $ 35,000 | |
Series A Preferred Stock [Member] | ||
Common stock issued for debt conversions, shares | 1,203,000 | |
Issued shares for debt converted, value | $ 1,256,000 | |
Accrued interest | $ 13,962 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Nov. 30, 2016 | Oct. 31, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reverse stock split | 1:100 reverse stock split | |||||
Proceeds from convertible note | $ 1,476,558 | $ 612,500 | ||||
Previously funded shareholder advances amount | 43,000 | |||||
Accrued interest | $ 85,830 | $ 1,819,017 | $ 535,563 | $ 2,471,367 | ||
Series A Preferred Stock [Member] | ||||||
Number of stock issued as consideration to satisfy of obligation | 1,223,000 | |||||
Subsequent Event [Member] | ||||||
Reverse stock split | 1:100 reverse stock split | |||||
Received shareholders loan | $ 29,500 | |||||
Proceeds from issuance of debt | $ 812,500 | |||||
Percentage of convertible debt | 10.00% | |||||
Debt original issue discount amount | $ 162,500 | |||||
Closing fees amount | 6,000 | |||||
Convertible debt | 644,000 | |||||
Proceeds from convertible note | 377,332 | |||||
Subsequent Event [Member] | 10% Convertible Notes [Member] | ||||||
Proceeds from issuance of debt | 161,203 | |||||
Debt original issue discount amount | 60,000 | |||||
Proceeds from convertible note | 250,000 | |||||
Debt principal amount | 310,000 | |||||
Previously funded shareholder advances amount | 77,533 | |||||
Accrued interest | 11,264 | |||||
Subsequent Event [Member] | Convertible Notes [Member] | ||||||
Proceeds from issuance of debt | $ 361,500 | |||||
Convertible debt | $ 260,901 | 260,901 | ||||
Accrued interest | 48,398 | |||||
Accrued penalties | $ 910,866 | |||||
Subsequent Event [Member] | Two Tranches [Member] | Investors [Member] | ||||||
Initial closing convertible note | $ 133,334 | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | ||||||
Issued restricted preferred stock shares | 150,000 | |||||
Number of stock issued as consideration to satisfy of obligation | 341,280 | 52,000 | ||||
Subsequent Event [Member] | Common Stock [Member] | ||||||
Number of stock issued as consideration to satisfy of obligation | 563,523 |