| Schedule of Convertible debt |
The Company determined that the modification of these Notes was not a substantial modification in accordance with ASC 470-50, “Modifications and Extinguishments.” | | | | |
| Convertible debt consists of the following:
|
|
|
|
|
|
|
| June 30, 2016
|
| December 31, 2015
|
|
|
| (Unaudited)
|
|
|
| 1% Convertible notes payable, due July 2016
| $
| 240,000
| $
| 240,000
|
|
|
|
|
|
|
| 11% Convertible note payable - HEP Investments, LLC, a related party, net of unamortized discount of $1,805,838 and $1,843,931, respectively, due at various dates ranging from July 2016 to May 2018
|
| 6,871,362
|
| 5,583,269
|
|
|
| 7,111,362
|
| 5,823,269
|
| Less: Current portion
|
| 2,241,993
|
| 1,224,510
|
|
|
|
|
|
|
| Long term portion
| $
| 4,869,369
| $
| 4,598,759
|
|