NOTES PAYABLE (Details Narrative) |
1 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Feb. 22, 2017
USD ($)
|
Oct. 28, 2016 |
Jun. 23, 2017
USD ($)
$ / shares
|
Jun. 30, 2017
USD ($)
$ / shares
|
Dec. 31, 2016
USD ($)
$ / shares
|
Dec. 16, 2016
$ / shares
|
Nov. 01, 2016
$ / shares
|
Dec. 14, 2015
$ / shares
|
|
Total Debt | $ 1,311,995 | $ 1,918,676 | ||||||
Accrued interest | $ 110,217 | $ 96,633 | ||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | ||||||
Senior Convertible Promissory Note A Due December 23, 2018 [Member] | ||||||||
Description of conversion price | convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) $0.1362 or (ii) 85% of the lowest daily volume weighted average price of the Common Stock in the fifteen (15) trading days prior to the conversion date (ÂConversion Price AÂ), which Conversion Price A is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. | |||||||
Debt instrument maturity date | Dec. 23, 2018 | |||||||
Term of conversion feature |
The conversion price of Note A will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect. |
|||||||
Additional term of conversion feature |
In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $0.70 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) days notice, that the holder convert Note A at Conversion Price A. |
|||||||
Description of prepayment |
The Company may prepay in cash any portion of the outstanding principal amount of Note A and any accrued and unpaid interest by, upon ten (10) days written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of Note A plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of Note A; (ii) 115% of the sum of the then-outstanding principal amount of Note A plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of Note A; or (iii) 125% of the sum of the then-outstanding principal amount of Note A plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of Note A. |
|||||||
Senior Convertible Promissory Note Due December 23, 2018 [Member] | ||||||||
Common stock, par value | $ / shares | $ 0.001 | |||||||
Principal amount | $ 3,000,000 | |||||||
Purchase price | 3,000,000 | |||||||
Common stock average trading volume to activate conversion feature | $ 2,500,000 | |||||||
Senior convertible promissoryNote B [Member] | ||||||||
Principal amount | $ 3,000,000 | |||||||
Purchase price | $ 3,000,000 | |||||||
Senior convertible promissory note [Member] | ||||||||
Description of conversion price | Conversion price per share equal to the lower of (i) $0.2495 or (ii) 85% of the lowest daily volume weighted average price of the Common Stock in the fifteen (15) trading days prior to the conversion date (the Conversion Price), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. | |||||||
Debt instrument maturity date | Aug. 22, 2018 | |||||||
Term of conversion feature | The conversion price of the Note will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect. All interest payments under the Note are payable, at the Companys option, in cash or shares of Common Stock. | |||||||
Additional term of conversion feature |
In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $0.70 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) days notice, that the holder convert Note B at Conversion Price B. |
|||||||
Description of prepayment | The Company may prepay in cash any portion of the outstanding principal amount of the Note and any accrued and unpaid interest by, upon ten (10) days' written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the Note plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the Note; (ii) 115% of the sum of the then-outstanding principal amount of the Note plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the Note; or (iii) 125% of the sum of the then-outstanding principal amount of the Note plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the Note. | |||||||
Senior convertible promissory note [Member] | Minimum [Member] | ||||||||
Common stock average trading volume to activate conversion feature | $ 2,500,000 | |||||||
Unsecured Promissory Demand Note [Member] | ||||||||
Total Debt | $ 64,324 | |||||||
Interest rate | 4.00% | |||||||
Common stock, par value | $ / shares | $ 0.75 | |||||||
Convertible promissory note [Member] | ||||||||
Total Debt | $ 500,000 | 500,000 | ||||||
Interest rate | 1.00% | 12.00% | ||||||
Conversion price | $ / shares | $ 0.1211 | |||||||
Convesion price, percentage | 0.90 | |||||||
Convertible promissory note one [Member] | ||||||||
Total Debt | 102,582 | |||||||
Interest rate | 12.00% | |||||||
Conversion price | $ / shares | $ 0.35 | |||||||
Convertible promissory note two [Member] | ||||||||
Total Debt | 75,705 | 31,615 | ||||||
Interest rate | 12.00% | |||||||
Conversion price | $ / shares | $ 0.27 | |||||||
Convertible promissory note three [Member] | ||||||||
Total Debt | $ 1,220,155 | |||||||
Interest rate | 12.00% | |||||||
Conversion price | $ / shares | $ 0.1362 |