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Subsequent Events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events

NOTE 9 Subsequent Events


In July 2018, the Company filed a Certificate of Amendment to the Certificate of Incorporation increasing its authorized shares of common stock from 150,000,000 to 200,000,000. The authorized shares on the consolidated balance sheet have been retrospectively restated to reflect this change.


In July 2018, the Company issued 47,525 shares of common stock to an accredited investor in exchange for $12,000.


In July 2018, the Company issued 9,379,473 shares of common stock to its chairman, president and principal shareholder upon the conversion of $2.5 million of Secured Convertible Notes (“Notes”).  The Notes were converted at prices ranging from $0.21 to $0.35 per share.  In connection with the conversion, the Company recorded a loss on conversion of $129,936 representing the remaining balance of unamortized discounts on the notes converted.  In addition to the conversion, the Company’s chairman, president and principal shareholder agreed to reduce the annual interest rate on the remaining Notes and a $1 million Secured Convertible Promissory Note from 7.5% to 5.0%. The remaining Notes are convertible at prices ranging from $0.35 to $0.82 per share.


Since July 1, 2018, the Company has issued 661,376 shares of common stock and two-year warrants to purchase 330,688 shares of common stock at an exercise price of $2.00 per share to its chairman, president and principal shareholder in exchange for $260,000.


Since July 1, 2018, the Company has issued 633,502 shares of common stock and two-year warrants to purchase 316,751 shares of common stock at an exercise price of $2.00 per share to the Investor in exchange for $190,000.


In July 2018, the Company issued 20,000 shares in connection with the exercise of options by an employee in exchange for $3,596.