Quarterly report pursuant to Section 13 or 15(d)

5. Convertible Notes Payable (Tables)

v3.7.0.1
5. Convertible Notes Payable (Tables)
3 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Convertible notes payable

Convertible Notes Payable, Net consisted of the following at June 30, 2017:

 

    Principal     Unamortized
Discount
    Net
Amount
    Accrued
Interest
 
Convertible Notes Payable, Net – Non-Current Portion:                                
November 2014 10% Convertible Notes   $ 612,811     $ (114,850 )   $ 497,961     $ 17,875  
December 2016 10% Convertible Notes     680,400       (127,450 )     552,950       19,846  
Total Convertible Notes Payable, Net   $ 1,293,211     $ (242,300 )   $ 1,050,911     $ 37,721  

  

Convertible Notes Payable, Net consisted of the following at March 31, 2017 (our most recent fiscal year end):

 

    Principal     Unamortized
Discount
    Net
Amount
    Accrued
Interest
 
Convertible Notes Payable, Net – Non-Current Portion:                                
November 2014 10% Convertible Notes   $ 612,811     $ (275,363 )   $ 337,448     $ 2,555  
December 2016 10% Convertible Notes     680,400       (498,648 )     181,752       2,836  
Total Convertible Notes Payable, Net   $ 1,293,211     $ (774,011 )   $ 519,200     $ 5,391  

 

Changes to principal balance of Convertible Note
Activity in the November 2014 10% Convertible Notes
Initial principal balance   $ 527,780  
Increase in principal balance under the second amendment (see above)     165,031  
Conversions during the fiscal year ended March 31, 2017     (80,000 )
Balance as of June 30, 2017   $ 612,811