Annual report pursuant to Section 13 and 15(d)

Private Placement (Details Narrative)

v3.3.1.900
Private Placement (Details Narrative) - USD ($)
 6 Months Ended 12 Months Ended
Aug. 05, 2015
Jul. 15, 2015
Oct. 31, 2014
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Debt face amount       $ 6,000,000   $ 6,000,000
Debt discount       $ 909,411   $ 909,411
Extinguishment of beneficial conversion feature derivative liability       $ 6,279,677  
Reclassification of financing warrants (from derivative liability to APIC) upon completion of IPO         $ 881,359  
Financing Warrants [Member]            
Warrant term 4 years 3 months   5 years     4 years 10 months 2 days
Number of shares exercisable 251,187   220,268 220,268   220,268
Exercise price (in dollars per share) $ 3.00   $ 3.00 $ 3.00   $ 3.00
National Securities Corporation (Placement Agent) [Member] | Financing Warrants [Member]            
Warrant term     5 years      
Number of shares exercisable       220,268 251,187 220,268
Exercise price (in dollars per share)       $ 3.00 $ 3.00 $ 3.00
Increase (dercrease) in fair value of derivative liabilities       $ 63,672 $ 605,532  
Reclassification of financing warrants (from derivative liability to APIC) upon completion of IPO $ 881,359          
6% Convertible Notes Payable Due 2015-12-31 [Member] | Accredited Investors [Member]            
Debt face amount     $ 6,000,000      
Percentage of debt default     12.00%      
Conversion price (in dollars per share)   $ 2.50        
Description of debt conversion    

The Convertible Notes were required to be converted upon a qualifying IPO, if any, in which case the conversion price was to be equal to 50% of the price to the public in such offering (but not more than $2.50 or less than $1.67 per share.

      
Aggregate accrued interest       $ 65,589   $ 65,589
Convertible notes converted into shares           2,400,000
Accrued interest converted into common shares   111,871        
Fair value of embedded conversion option     $ 212,155      
Debt discount     $ 848,824      
Extinguishment of beneficial conversion feature derivative liability         $ 6,279,677  
6% Convertible Notes Payable Due 2015-12-31 [Member] | Accredited Investors [Member] | Minimum [Member]            
Conversion price (in dollars per share)     $ 1.67      
6% Convertible Notes Payable Due 2015-12-31 [Member] | Accredited Investors [Member] | Maximum [Member]            
Conversion price (in dollars per share)     $ 2.50      
6% Convertible Notes Payable Due 2015-12-31 [Member] | National Securities Corporation (Placement Agent) [Member]            
Cash fee     $ 553,490