Convertible note Lender Agreements (Details) (USD $)
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Apr. 16, 2013
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Convertible note Lender Agreements | |
Lender has agreed to advance up to a total | $ 3,750,000 |
Lender had advanced the Company | 2,707,780 |
Company's restricted common stock conversion price | $ 0.12 |
Discount off of the ten day trailing quoted price of the common stock | 25.00% |
Interest at the rate of per annum | 11.00% |
The Company was obligated pursuant to the terms of the Note to issue its common stock warrants | 1,666,667 |
Shares of its common stock to be issued | 600,000 |
Value of Shares of its common stock to be issued | 192,000 |
Based on a closing share price | $ 0.32 |
Company valued the common stock warrants at | $ 481,110 |
Remaining term in years | 3.46 |
volatility rate of | 148.44% |
Annual rate of dividends of | 0.00% |
Risk free interest rate of | 0.25% |
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Annual rate of dividends assumption No definition available.
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Based on a closing share price No definition available.
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Company's restricted common stock conversion price No definition available.
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Company valued the common stock warrants at No definition available.
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- Details
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Discount off of the ten day trailing quoted price of the common stock No definition available.
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Interest at the rate of per annum No definition available.
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Lender had advanced the Company No definition available.
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Lender has agreed to advance up to a total No definition available.
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Remaining term in years No definition available.
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Risk free interest rate assumption No definition available.
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Shares of its common stock to be issued No definition available.
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The Company was obligated pursuant to the terms of the Note to issue its common stock warrants No definition available.
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Value of Shares of its common stock to be issued No definition available.
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- Definition
volatility rate assumption No definition available.
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