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Notes Payable - Related Party
3 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Note 5 - Notes Payable - Related Party

During the quarter ended September 30, 2016, the Company borrowed an additional $100,000 from an individual investor with interest at 5%, payable in full in three years. The Company incurred $18,684 of interest expense on notes payable during the quarter ended September 30, 2016.

 

Warrants to acquire additional shares of common stock issued in connection with $825,000 of related party notes payable were extended from August 31, 2016 to February 5, 2020. Amortization of related debt discount resulted in $17,865 of interest expense for the three months ended September 30, 2016.