Annual report pursuant to Section 13 and 15(d)

8. NOTES PAYABLE (Tables)

v3.7.0.1
8. NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2016
Convertible Notes Payable [Member] | SPA [Member]  
Schedule of debt and conversions
    Maturity     2016     2015     Interest Rate  
Senior Secured Convertible Promissory Notes:                                
Tranche 1 (Note 1)     May 19, 2016     $ –     $ 510,000       10%  
Tranche 2 (Note 2)     June 12, 2016       255,000       510,000       10%  
Tranche 3 (Note 3)     July 24, 2016       510,000       510,000       10%  
Tranche 4 (Note 4)     September 16, 2016       255,000       255,000       10%  
Total borrowings             1,020,000       1,785,000          
                                 
Convertible notes converted (Note 1)             –       (510,000 )        
Convertible notes converted (Note 2)             (255,000 )     (255,000 )        
Convertible notes converted/repaid (Note 3)             (510,000 )     –          
Convertible notes repaid (Note 4)             (255,000 )     –          
Unamortized debt issuance cost             –       (99,805 )        
Unamortized 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           $ –     $ –          
Convertible Notes Payable [Member] | Iliad Note [Member]  
Schedule of debt and conversions
    Maturity     2016     2015     Interest Rate  
                         
Secured promissory note payable     June 24, 2017     $ 2,055,000     $ –       10%  
Interest accrued             128,311       –          
Unamortized original issue discount and debt issuance costs             (35,335 )     –          
Conversion of convertible promissory notes and accrued interest to common stock             (175,000 )     –          
Conversion of convertible promissory notes and accrued interest to accrued liabilities             (75,000 )     –          
                                 
Net carrying amount of debt             1,897,976       –          
Less current portion             (1,897,976 )     –          
Long-term borrowings - net of current portion           $ –     $ –          
Unsecured Note Payable [Member]  
Schedule of debt and conversions
    Maturity     2016     2015     Interest Rate  
                         
Unsecured promissory note payable     February 1, 2018     $ 850,000     $ –       12%  
Unamortized original issue discount and debt issuance costs             (26,309 )     –          
Unamortized debt discount - fair value of warrants             (144,517 )     –          
                                 
Net carrying amount of debt             679,174       –          
Less current portion             –       –          
Long-term borrowings - net of current portion           $ 679,174     $ –