Annual report pursuant to Section 13 and 15(d)

9. SECURED CONVERTIBLE PROMISSORY NOTES PAYABLE (Tables)

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9. SECURED CONVERTIBLE PROMISSORY NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of debt and conversions
    December 31, 2015  
    Maturity     Balance     Interest Rate  
Senior Secured Convertible Promissory Notes:                        
Tranche 1 (Note 1)     May 19, 2016     $ 510,000       10%  
Tranche 2 (Note 2)     June 12, 2016       510,000       10%  
Tranche 3 (Note 3)     July 24, 2016       510,000       10%  
Tranche 4 (Note 4)     September 16, 2016       255,000       10%  
Total borrowings             1,785,000          

 

Convertible notes converted (Note 1)     (510,000 )
Convertible notes converted (Note 2)     (255,000 )
Unamortized debt issuance costs     (99,805 )
Debt discount - beneficial conversion feature     (38,392 )
         
Net carrying amount of debt     881,803  
Less current portion     881,803  
Long-term borrowings - net of current portion   $ –  
Assumptions used for the beneficial conversion feature
    Assumption Range
Volatility   89.0% - 99.0%
Risk-Free Interest Rate   0.04% - 0.24%
Expected Term   6 months