NOTES PAYABLE (Details Narrative) - USD ($) |
1 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Nov. 22, 2017 |
Oct. 28, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 26, 2017 |
Aug. 21, 2017 |
Dec. 16, 2016 |
Nov. 01, 2016 |
Dec. 14, 2015 |
|
| Total debt | $ 6,609,398 | $ 1,918,676 | ||||||||
| Unamortized debt discount | 4,790,601 | 4,295,648 | ||||||||
| Accrued interest | 21,767 | 96,633 | ||||||||
| Debt conversion, converted instrument, amount | (19,314,324) | (13,324,973) | $ (900,000) | |||||||
| Cash paid for debt discount | $ (614,600) | |||||||||
| Common stock, par value | $ 0.001 | $ 0.001 | ||||||||
| Common stock issued in conversion of debt | 8,284,283 | 3,778,581 | 3,776,369 | |||||||
| Convertible promissory note [Member] | Securities Purchase Agreement [Member] | ||||||||||
| Interest rate | 12.00% | |||||||||
| Issuance of promissory note | 20,000,000 | |||||||||
| Debt conversion, converted instrument, amount | $ 13,100,000 | |||||||||
| Unamortized debt due discount amount | 6,900,000 | $ 4,790,602 | ||||||||
| Cash paid for debt discount | $ (614,600) | |||||||||
| Issuance of warrants | 478,000 | |||||||||
| Description of conversion price |
For each note issued under the Master Securities Purchase Agreement, the principal and interest due and owed under the note is 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) the original conversion price as defined in each note issuance 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 (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. Upon certain events of default, the conversion price 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.
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 $10.50 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 the notes at the Conversion Price.
The Company may prepay in cash any portion of the outstanding principal amount of the notes 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 notes plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the notes; (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 the notes; or (iii) 125% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the notes. |
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| Promissory Note [Member] | ||||||||||
| Issuance of promissory note | 4,500,000 | |||||||||
| Interest rate escalation description |
The interest rate for the first year is 12.0% and increases 0.5% per year through 2020. |
|||||||||
| Debt instrument maturity date | Dec. 01, 2020 | |||||||||
| Convertible promissory note Three [Member] | ||||||||||
| Total debt | 1,220,155 | |||||||||
| Interest rate | 12.00% | |||||||||
| Conversion price | $ 4.05 | |||||||||
| Convertible promissory note Two [Member] | ||||||||||
| Total debt | 31,615 | |||||||||
| Interest rate | 12.00% | |||||||||
| Conversion price | $ 5.25 | |||||||||
| Convertible promissory note [Member] | ||||||||||
| Total debt | 500,000 | |||||||||
| Interest rate | 1.00% | 12.00% | ||||||||
| Conversion price | $ 1.82 | |||||||||
| Conversion price description |
The conversion price is 90% of the average of the lowest three (3) VWAPs for the five (5) consecutive trading days prior to the conversion date. |
|||||||||
| Unsecured Promissory Demand Note [Member] | ||||||||||
| Total debt | 64,324 | |||||||||
| Interest rate | 4.00% | |||||||||
| Common stock, par value | $ 11.25 | |||||||||
| Convertible promissory note four [Member] | ||||||||||
| Total debt | $ 640,010 | |||||||||
| Interest rate | 12.00% | |||||||||
| Conversion price | $ 4.50 | |||||||||
| Convertible promissory note Five [Member] | ||||||||||
| Total debt | 1,469,388 | |||||||||
| Interest rate | 12.00% | |||||||||
| Conversion price | $ 4.50 | |||||||||
| Ppromissory note Six [Member] | ||||||||||
| Total debt | $ 4,500,000 | |||||||||
| Interest rate escalation description |
The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5% |
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| Ppromissory note Six [Member] | Minimum [Member] | ||||||||||
| Interest rate | 12.00% | |||||||||
| Ppromissory note Six [Member] | Maximum [Member] | ||||||||||
| Interest rate | 13.50% | |||||||||