Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE (Details Narrative)

v3.8.0.1
NOTES PAYABLE (Details Narrative) - USD ($)
1 Months Ended
Aug. 21, 2017
Jun. 23, 2017
Feb. 22, 2017
Oct. 28, 2016
Sep. 30, 2017
Dec. 31, 2016
Dec. 16, 2016
Nov. 01, 2016
Dec. 14, 2015
Total Debt         $ 2,133,904 $ 1,918,676      
Unamortized debt discount         3,766,095 4,295,648      
Accrued interest         $ 2,844 $ 96,633      
Common stock, par value         $ 0.001 $ 0.001      
Convertible promissory note [Member]                  
Total Debt         $ 500,000      
Interest rate       1.00%         12.00%
Conversion price                 $ 0.1211
Convesion price, percentage       90.00%          
Senior Convertible Promissory Note C Due August 22, 2018 [Member]                  
Common stock, par value     $ 0.001            
Principal amount     $ 3,000,000            
Purchase price     $ 3,000,000            
Description of conversion price    

All principal and interest due and owing under Note C 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) $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 (“Conversion Price C”), which Conversion Price C 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 Note C 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 Company’s option, in cash or shares of Common Stock.

           
Common stock average trading volume to activate conversion feature     $ 2,500,000            
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) day’s notice, that the holder convert Note C at Conversion Price C.

           
Description of prepayment    

The Company may prepay in cash any portion of the outstanding principal amount of Note C 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 C plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of Note C; (ii) 115% of the sum of the then-outstanding principal amount of Note C plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of Note C; or (iii) 125% of the sum of the then-outstanding principal amount of Note C plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of Note C.

           
Loan paid in cash     $ 90,000            
Senior convertible promissoryNote B [Member]                  
Common stock, par value   $ 0.001              
Principal amount   $ 3,000,000              
Purchase price   $ 3,000,000              
Senior Convertible Promissory Note B Due December 23, 2018 [Member]                  
Description of conversion price  

All principal and interest due and owing under Note B 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) $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 (“Conversion Price B”), which Conversion Price B 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 B 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) day’s 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 Note B 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 B plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of Note B; (ii) 115% of the sum of the then-outstanding principal amount of Note B plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of Note B; or (iii) 125% of the sum of the then-outstanding principal amount of Note B plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of Note B.

             
Loan paid in cash   $ 90,000              
Senior Convertible Promissory Note A Due February 21, 2019 [Member]                  
Common stock, par value $ 0.001                
Principal amount $ 5,500,000                
Purchase price $ 5,500,000                
Description of conversion price

All principal and interest due and owing under Note A 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) $0.30 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 A”), 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 Feb. 21, 2019                
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.

               
Common stock average trading volume to activate conversion feature $ 2,500,000                
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) day’s 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.

               
Warrants paid in cash $ 180,000                
Warrants issued $ 169,000                
Unsecured Promissory Demand Note [Member]                  
Total Debt         64,324      
Interest rate         4.00%        
Common stock, par value         $ 0.75        
Convertible promissory note Two [Member]                  
Total Debt         31,615      
Interest rate               12.00%  
Conversion price               $ 0.35  
Convertible promissory note Three [Member]                  
Total Debt         1,220,155      
Interest rate             12.00%    
Conversion price             $ 0.27    
Convertible promissory note Four [Member]                  
Total Debt              
Interest rate     12.00%            
Conversion price     $ 0.25            
Convertible promissory note Five [Member]                  
Total Debt         335,119      
Interest rate   12.00%              
Conversion price   $ 0.1362              
Convertible promissory note Six [Member]                  
Total Debt         $ 1,798,785      
Interest rate 12.00%                
Conversion price $ 0.30