NOTES PAYABLE OTHER	3 Months Ended
Mar. 31, 2017
Notes to Financial Statements
Note 4. NOTES PAYABLE OTHER	During 2014 and 2013, the Company issued convertible notes for $2,500,000 through its then wholly-owned subsidiary, Senior Scientific, LLC, which subsequently merged with Imagion Biosystems, Inc. The convertible notes bear interest at 8%, mature four years from the date of issuance, and are convertible into either: (1) membership interests of Senior Scientific, LLC equal to the quotient of the principal due of the convertible notes divided by $2,500,000 multiplied by 18% of the total equity of Senior Scientific, LLC outstanding as of the date hereof; or (2) the number of shares of common stock of the Company equal to the quotient of the principal and interest payable due of the convertible notes divided by a conversion price of $0.055 per share. The Company may not prepay the convertible notes. In the event of a default and so long as the default exists, interest on the convertible notes will accrue at 10%. The Company must account for all accrued interest on the convertible notes on the first calendar day of each quarter. The conversion feature to the note payable has been accounted for as an original issue discount approximating $1,045,000 which $684,000 has been accreted as of March 31, 2017. The Company has recorded the accreted original issue discount as interest expense totaling $64,000 and $65,000 for the three month periods ended March 31, 2017 and 2016. In February 2017, the Company repaid $2,000,000 of principal on the notes, in cash. As of March 31, 2017, the aggregate principal balance was $500,000.

NOTES PAYABLE OTHER

3 Months Ended

Mar. 31, 2017

During 2014 and 2013, the Company issued convertible notes for $2,500,000 through its then wholly-owned subsidiary, Senior Scientific, LLC, which subsequently merged with Imagion Biosystems, Inc. The convertible notes bear interest at 8%, mature four years from the date of issuance, and are convertible into either: (1) membership interests of Senior Scientific, LLC equal to the quotient of the principal due of the convertible notes divided by $2,500,000 multiplied by 18% of the total equity of Senior Scientific, LLC outstanding as of the date hereof; or (2) the number of shares of common stock of the Company equal to the quotient of the principal and interest payable due of the convertible notes divided by a conversion price of $0.055 per share. The Company may not prepay the convertible notes. In the event of a default and so long as the default exists, interest on the convertible notes will accrue at 10%. The Company must account for all accrued interest on the convertible notes on the first calendar day of each quarter. The conversion feature to the note payable has been accounted for as an original issue discount approximating $1,045,000 which $684,000 has been accreted as of March 31, 2017. The Company has recorded the accreted original issue discount as interest expense totaling $64,000 and $65,000 for the three month periods ended March 31, 2017 and 2016. In February 2017, the Company repaid $2,000,000 of principal on the notes, in cash. As of March 31, 2017, the aggregate principal balance was $500,000.