12. SUBSEQUENT EVENTS
|9 Months Ended|
Sep. 30, 2017
|Subsequent Events [Abstract]|
On October 12, 2017, the Company received a redemption notice for the conversion of $75,000 under the Iliad Note into shares of the Company’s common stock. The Company issued 469,239 shares of common stock pursuant to the notice.
On October 13, 2017 pursuant to its rights under the Iliad Note, the Company repaid with cash the total sum of $340,645, which represented all outstanding amounts due under the Iliad Note. As a result, the Company has satisfied all of its obligations under the Iliad Note, and the Iliad Note has been satisfied, repaid, retired and terminated.
On November 3, 2017, the Company received a redemption notice for the conversion of $75,000 under the Iliad Note 2 into shares of the Company’s common stock. The Company issued 624,897 shares of common stock pursuant to the notice.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/presentationRef