Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Note 10 – Subsequent Events

On October 1, 2016, the Company and the Bank could not reach an agreement to extend the Third Amendment to the Forbearance Agreement. Following this outcome, the Company decided to discontinue payment of interest on its outstanding loan obligations with the Bank. The Company is evaluating plans to restructure, amend or refinance existing debt through private options and is optimistic of a successful outcome. However, it could seek a protected reorganization under chapter 11 of the U.S. federal bankruptcy code.

We have reviewed all material events through the date of this report in accordance with ASC 855-10.