Annual report pursuant to Section 13 and 15(d)

Convertible Note Issuance Costs (Tables)

v3.3.1.900
Convertible Note Issuance Costs (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of issuance of convertible notes

Issuance costs are as follows:

 

    December 31,  
    2014  
Placement fee   $ 553,490  
Fair value of Financing Warrants at time of issue     212,155  
Attorney fees     79,679  
Escrow fees     3,500  
Beneficial conversion feature     212,155  
Accumulated amortization     (151,568 )
Net issuance costs   $ 909,411  
         
Convertible Notes   $ 6,000,000  
Convertible Notes discount, net of amortization     (909,411 )
Convertible Notes, net of discount   $ 5,090,589