Quarterly report pursuant to Section 13 or 15(d)

Schedule of Convertible debt (Tables)

Schedule of Convertible debt (Tables)

3 Months Ended

Mar. 31, 2016

In September 2014, the Lender agreed to rolling 30 day extensions until notice is given to the Company to the contrary. 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:
		March 31, 2016		December 31, 2015
		(Unaudited)
1% Convertible notes payable, due April 2016	$	240,000	$	240,000

11% Convertible note payable - HEP Investments, LLC, a related party, net of unamortized discount of $2,126,280 and $1,843,931, respectively, due at various dates ranging from April 2016 to March 2018		6,300,920		5,583,269
		6,540,920		5,823,269
Less: Current portion		1,654,301		1,224,510

Long term portion	$	4,886,619	$	4,598,759