8. NOTES PAYABLE (Details Narrative) - USD ($) |
3 Months Ended | ||
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Mar. 31, 2016 |
Mar. 31, 2015 |
Dec. 31, 2015 |
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Repayments of notes | $ 612,000 | $ 0 | |
Tranche 1 (Note 1) [Member] | |||
Debt stated interest rate | 10.00% | ||
Tranche 2 (Note 2) [Member] | |||
Debt converted, shares issued | 3,062,535 | ||
Debt converted, debt value | $ 255,000 | ||
Debt stated interest rate | 10.00% | ||
Tranche 3 (Note 3) [Member] | |||
Debt converted, shares issued | 2,500,000 | ||
Debt converted, debt value | $ 153,000 | ||
Repayments of notes | 357,000 | ||
Repayment of accrued interest | 148,944 | ||
Debt stated interest rate | 10.00% | ||
Tranche 4 (Note 4) [Member] | |||
Repayments of notes | 255,000 | ||
Repayment of accrued interest | 93,075 | ||
Debt stated interest rate | 10.00% | ||
Unsecured Note Payable [Member] | |||
Interest expense for amortization of warrant fair value | 22,233 | ||
Unsecured Note Payable [Member] | |||
Debt face value | $ 850,000 | ||
Debt stated interest rate | 12.00% | ||
Original issue discount | $ 30,000 | ||
Debt issuance costs | $ 18,570 | ||
Warrant issued | 2,000,000 | ||
Fair value of warrant | $ 266,800 |
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- Definition Fair value of warrant No definition available.
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- Definition Original issue discount No definition available.
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- Definition Repayment of accrued interest No definition available.
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- Definition Number of securities into which each warrant or right may be converted. For example, but not limited to, each warrant may be converted into two shares. No definition available.
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- Definition The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after accumulated amortization, of debt issuance costs related to line of credit arrangements. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate amount of interest paid or due on all long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow from the repayment of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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