Subsequent Events |
3 Months Ended | |||
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Mar. 31, 2016 | ||||
| Subsequent Events [Abstract] | ||||
| Subsequent Events |
On May 9, 2016, the Company received a $200,000, three-month, non-convertible loan from an investor. Loan terms include 12% annualized interest and the award of a three-year warrant to purchase 100,000 shares of the Company’s common stock at an exercise price set at $0.55.
On May 6, 2016, all remaining Series K preferred shareholders except one converted their preferred stock into approximately 4.3 million shares of the Company’s common stock. |
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- References No definition available.
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- Definition 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.
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