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RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2019
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

During the year ended December 31, 2018, the Company entered into a professional services agreement with a firm whose managing director is also a member of the Company’s Board of Directors. During the first quarter of the fiscal year ended December 31, 2019, the Company recorded and paid the remaining one-half of the aggregate fee of $50,000 related to this professional services agreement.  

 

During the six months ended June 30, 2018, the Company had Convertible Lines of Credit outstanding with two members of the Company’s Board of Directors. At June 30, 2018, aggregate borrowing under the Lines of Credit were approximately $5,871,000 net of discount. Such Lines of Credit and all accrued unpaid interest were converted into shares of the Company’s Series A Preferred Stock in September 2018, at which time the Lines of Credit were deemed satisfied in full and terminated.