On April 3, 2017, we signed a six-month agreement with an investor relations firm. The agreement includes a cash payment of $10,000 plus a convertible 8-month note for $50,000 with the following significant terms: (i) convertible at $0.40/share, (ii) bears 10% annual interest, (iii) a 20% pre-payment penalty if the Company wants to pre-pay the Note, and (iv) a default rate of 18%.

On April 19, 2017, we received a 7-month non-convertible loan of $250,000 from a privately-held investment firm. The loan earns an annual interest rate of 10% and includes a 10% original issue discount. We agreed to issue 25,000 shares at closing. Until the loan is repaid, we will, over the next one hundred eighty (180) days, issue 75,000 shares to the Investor every sixty (60) days for a total issuance of 250,000 shares. No shares other than the initial 25,000 will be issued to the Investor if the loan is fully paid by June 18, 2017.

On May 3, 2017, we received $250,000 pursuant to the Revolving Note as amended and we issued to the Investor warrants to purchase 625,000 shares of our Common Stock at an exercise price per share equal to $0.40 per share. The Revolving Note was amended on May 2, 2017 to increase the aggregate principal amount to $3,000,000, to issue 500,000 shares of our Common Stock to the Investor, to decrease the exercise price per share of the warrants to the lower of (i) $0.40 or (ii) the per share purchase price of the shares of our Common Stock sold in the Qualified Offering, and to change the references in the Revolving Note from “the six (6) month anniversary of October 28, 2016” to “July 25, 2017.”

On May 10, 2017, we received $149,164 from the exercise of 596,657 stock purchase warrants from the Series D registered direct offering on November 10, 2011. In consideration for the warrant exercises, we issued to the investors warrants to purchase 1,044,150 shares of our Common Stock at an exercise price per share equal to $0.28 per share. The warrants expire on the third year anniversary date.

On May 10, 2017, an investor converted 75 shares of Series D Preferred Stock into 187,500 shares of Common Stock. In consideration for the preferred stock conversion, we issued 112,500 shares of restricted Common Stock.