7. NOTES PAYABLE (Tables)
|
9 Months Ended |
Sep. 30, 2017 |
|---|
| Unsecured Note Payable [Member] |
|
| Schedule of debt |
| |
|
Maturity |
|
September
30, 2017 |
|
|
December
31, 2016 |
|
|
Interest Rate |
| |
|
|
|
|
|
|
|
|
|
|
| Unsecured promissory
note payable |
|
February 1, 2018 |
|
$ |
850,000 |
|
|
$ |
850,000 |
|
|
12% |
| Unamortized original issue
discount and debt issuance costs |
|
|
|
|
(8,096 |
) |
|
|
(26,309 |
) |
|
|
| Unamortized
debt discount - fair value of warrants |
|
|
|
|
(44,467 |
) |
|
|
(144,517 |
) |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net carrying amount of debt |
|
|
|
|
797,437 |
|
|
|
679,174 |
|
|
|
| Less
current portion |
|
|
|
|
(797,437 |
) |
|
|
– |
|
|
|
| Long-term
borrowings - net of current portion |
|
|
|
$ |
– |
|
|
$ |
679,174 |
|
|
|
|
| Iliad Note [Member] | Convertible Notes Payable [Member] [Default Label] |
|
| Schedule of debt |
| |
|
September
30,
2017 |
|
|
December
31,
2016 |
|
| |
|
|
|
|
|
|
| Iliad Note (defined below) |
|
$ |
344,596 |
|
|
$ |
1,897,976 |
|
| Iliad Note 2 (defined below) |
|
|
794,095 |
|
|
|
– |
|
| |
|
$ |
1,138,691 |
|
|
$ |
1,897,976 |
|
|
| Schedule of conversions |
| |
|
Maturity |
|
September
30,
2017 |
|
|
December
31,
2016 |
|
|
Interest Rate |
| |
|
|
|
|
|
|
|
|
|
|
| Secured promissory
note payable |
|
April 1, 2018 |
|
$ |
2,055,000 |
|
|
$ |
2,055,000 |
|
|
10% |
| Interest accrued |
|
|
|
|
194,596 |
|
|
|
128,311 |
|
|
|
| Unamortized original issue
discount and debt issuance costs |
|
|
|
|
– |
|
|
|
(35,335 |
) |
|
|
| Conversion of convertible
promissory notes and accrued interest to common stock |
|
|
|
|
(1,905,000 |
) |
|
|
(175,000 |
) |
|
|
| Conversion
of convertible promissory notes and accrued interest to accrued liabilities |
|
|
|
|
– |
|
|
|
(75,000 |
) |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net carrying amount of debt |
|
|
|
|
344,596 |
|
|
|
1,897,976 |
|
|
|
| Less
current portion |
|
|
|
|
(344,596 |
) |
|
|
(1,897,976 |
) |
|
|
| Long-term
borrowings - net of current portion |
|
|
|
$ |
– |
|
|
$ |
– |
|
|
|
| |
|
|
|
|
2016 |
|
|
|
|
| |
|
Maturity |
|
|
Balance |
|
|
Interest
Rate |
|
| Senior Secured Convertible Promissory Notes: |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Tranche 1 (Note 1) |
|
|
May 19, 2016 |
|
|
$ |
– |
|
|
|
10% |
|
| Tranche 2 (Note 2) |
|
|
June 12, 2016 |
|
|
|
255,000 |
|
|
|
10% |
|
| Tranche 3 (Note 3) |
|
|
July 24, 2016 |
|
|
|
510,000 |
|
|
|
10% |
|
| Tranche 4 (Note 4) |
|
|
September 16, 2016 |
|
|
|
255,000 |
|
|
|
10% |
|
| Total borrowings |
|
|
|
|
|
|
1,020,000 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible notes converted (Note 1) |
|
|
|
|
|
|
– |
|
|
|
|
|
| Convertible notes converted (Note 2) |
|
|
|
|
|
|
(255,000 |
) |
|
|
|
|
| Convertible notes converted/repaid (Note 3) |
|
|
|
|
|
|
(510,000 |
) |
|
|
|
|
| Convertible notes repaid (Note 4) |
|
|
|
|
|
|
(255,000 |
) |
|
|
|
|
| Unamortized debt issuance cost |
|
|
|
|
|
|
– |
|
|
|
|
|
| Unamortized debt discount - beneficial conversion
feature |
|
|
|
|
|
|
– |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net carrying amount of debt |
|
|
|
|
|
|
– |
|
|
|
|
|
| Less current portion |
|
|
|
|
|
|
– |
|
|
|
|
|
| Long-term borrowings - net of current portion |
|
|
|
|
|
$ |
– |
|
|
|
|
|
|
| Iliad Note 2 [Member] | Convertible Notes Payable [Member] [Default Label] |
|
| Schedule of conversions |
| |
|
Maturity |
|
September
30,
2017 |
|
|
December
31,
2016 |
|
|
Interest Rate |
| |
|
|
|
|
|
|
|
|
|
|
| Secured promissory
note payable |
|
April 30, 2018 |
|
$ |
770,000 |
|
|
$ |
– |
|
|
8% |
| Interest accrued |
|
|
|
|
37,319 |
|
|
|
– |
|
|
|
| Unamortized original issue
discount and debt issuance costs |
|
|
|
|
(9,999 |
) |
|
|
– |
|
|
|
| Unamortized
discount - embedded derivative |
|
|
|
|
(3,225 |
) |
|
|
– |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net carrying amount of debt |
|
|
|
|
794,095 |
|
|
|
– |
|
|
|
| Less
current portion |
|
|
|
|
(794,095 |
) |
|
|
– |
|
|
|
| Long-term
borrowings - net of current portion |
|
|
|
$ |
– |
|
|
$ |
– |
|
|
|
|