Quarterly report pursuant to Section 13 or 15(d)

Note Payable - Schedule of Note Payable (Details)

v3.19.2
Note Payable - Schedule of Note Payable (Details) - USD ($)
 6 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Notes payable - related parties, net $ 1,177,000 $ 1,177,000
Notes Payable Related Parties [Member]    
Notes payable - related parties, net 710,000
Debt discount (1,000)
Total notes payable, net of debt discount $ 709,000
Unsecured Promissory Note 1 (A) [Member]    
Issuance Date [1] Mar. 22, 2019  
Maturity Date [1] Apr. 10, 2019  
Interest Rate [1] 5.00%  
Original Borrowing [1] $ 310,000  
Notes payable - related parties, net [1]  
Unsecured Promissory Note 2 (B) [Member]    
Issuance Date [2] Mar. 29, 2019  
Maturity Date [2] Jul. 10, 2019  
Interest Rate [2] 5.00%  
Original Borrowing [2] $ 53,000  
Notes payable - related parties, net [2] $ 53,000  
Unsecured Promissory Note 3 (C) [Member]    
Issuance Date [3] Apr. 02, 2019  
Maturity Date [3] Jul. 10, 2019  
Interest Rate [3] 5.00%  
Original Borrowing [3] $ 53,000  
Notes payable - related parties, net [3] $ 157,000  
Unsecured Promissory Note 4 (D) [Member]    
Issuance Date [4] Apr. 30, 2019  
Maturity Date [4] Apr. 29, 2020  
Interest Rate [4] 5.00%  
Original Borrowing [4] $ 500,000  
Notes payable - related parties, net [4] $ 500,000  
[1] On March 22, 2019, we issued an unsecured promissory note to an unaffiliated third-party in the aggregate principal amount of $310,000, in exchange for net proceeds of $300,000, representing an original issue discount of $10,000, which is included in the original principal amount. The note is unsecured and bears interest on the principal amount at a rate of 5% per annum. The note was due on demand at any time after April 10, 2019. As a result of the issuance of the note, the Company incurred aggregate costs of $10,000 related to the note's original issue discount. The Company recorded these costs as a note discount and is being amortized over the term of the note. In April 2019, the Company paid off the balance of $310,000 and accrued interest totaling $1,000. As part of the payment, the Company amortized the remaining debt discount of $10,000. As of June 30, 2019, the outstanding balance of the note amounted to $0.
[2] On March 29, 2019, we issued an unsecured promissory note to an unaffiliated third-party in the aggregate principal amount of $53,000, in exchange for net proceeds of $50,000, representing an original issue discount of $3,000, which is included in the original principal amount. The note is unsecured and bears interest on the principal amount at a rate of 5% per annum. The note is due on demand at any time after July 10, 2019. As a result of the issuance of the note, the Company incurred aggregate costs of $3,000 related to the note's original issue discount. The Company recorded these costs as a note discount and is being amortized over the term of the note. As of June 30, 2019, the outstanding balance of the note amounted to $53,000. On July 10, 2019, the Company converted the debt and accrued interest into 27,018 shares of common stock.
[3] On April 22, 2019, we issued an unsecured promissory note to an unaffiliated third-party in the aggregate principal amount of $157,000, in exchange for net proceeds of $150,000, representing an original issue discount of $7,000, which is included in the original principal amount. The note is unsecured and bears interest on the principal amount at a rate of 5% per annum. The note is due on demand at any time after July 10, 2019. As a result of the issuance of the note, the Company incurred aggregate costs of $7,000 related to the note's original issue discount. The Company recorded these costs as a note discount and is being amortized over the term of the note. As of June 30, 2019, the outstanding balance of the note amounted to $157,000. On July 10, 2019, the Company converted the debt and accrued interest into 81,178 shares of common stock.
[4] On April 30, 2019, we issued an unsecured promissory note to an unaffiliated third-party in the aggregate principal amount of $500,000, in exchange for net proceeds of $500,000. The note is unsecured and bears interest on the principal amount at a rate of 5% per annum. The note is due on April 29, 2020. As of June 30, 2019, the outstanding balance of the note amounted to $500,000. On July 29, 2019 the Company converted the debt and accrued interest into 490,090 shares of common stock.