|6 Months Ended|
Jun. 30, 2017
|Notes to Financial Statements|
|Note 16. SUBSEQUENT EVENTS||
Certificate of Amendment to the Certificate of Designation of the Companys Series B Preferred Stock
On July 26, 2017, the Company filed a Certificate of Amendment to the Certificate of Designation of the Companys Series B Preferred Stock (the Amendment) with the Secretary of State of the State of Nevada to provide for an adjustment of the Conversion Rate of the Companys Series B Preferred Stock in the event of a reverse stock split or combination in the same ratio as the Companys common stock. A copy of the Amendment was filed as Exhibit 3.14 to the Companys Current Report on Form 8-K dated July 26, 2017.
Put on Equity Financing Facility
Subsequent to June 30, 2017, the Company sold 5,519,660 shares of common stock for the net amount of $1,250,000 pursuant to an equity financing facility with an accredited investor.
Debt and Interest Converted into Equity
Subsequent to June 30, 2017, senior convertible promissory notes and accrued interest in the amount of $2,092,492 were converted into 15,738,463 shares of common stock.
Employee Stock-Based Compensation
Subsequent to June 30, 2017, the Company issued 117,648 shares of common stock for employee stock-based compensation.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.