CONVERTIBLE NOTES (Details Textual 1)
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1 Months Ended |
6 Months Ended |
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Dec. 02, 2016
USD ($)
$ / shares
shares
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Sep. 13, 2016
USD ($)
$ / shares
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Nov. 18, 2016
USD ($)
$ / shares
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Aug. 19, 2016
USD ($)
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Aug. 18, 2016
USD ($)
$ / shares
shares
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Aug. 18, 2016
USD ($)
$ / shares
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Jul. 08, 2016
USD ($)
$ / shares
shares
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Oct. 28, 2015
USD ($)
$ / shares
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Dec. 31, 2016
USD ($)
$ / shares
shares
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Dec. 31, 2015
USD ($)
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Dec. 21, 2016
USD ($)
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Dec. 12, 2016
USD ($)
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Nov. 09, 2016
$ / shares
shares
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Nov. 09, 2016
AUD / shares
shares
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Oct. 31, 2016
USD ($)
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Oct. 28, 2016
$ / shares
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Jul. 02, 2016
USD ($)
$ / shares
shares
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Jun. 30, 2016
USD ($)
shares
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
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$ 4,000,000
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Debt Instrument, Unamortized Discount |
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$ 400,000
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Amortization of debt discount |
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1,371,171
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$ 1,224,235
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Interest Payable |
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4,125
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Debt Instrument, Increase (Decrease), Other, Net |
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$ 105,000
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Secured Debt, Secured Percentage by Lender |
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60.00%
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Percentage Of Conversion Rate Of Lowest Trading Bid Price |
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8.00%
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Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share) |
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$ 0.012
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$ 0.012
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$ 0.012
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$ 0.0115
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AUD 0.015
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Long-term Debt, Gross |
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$ 100,000
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Class of Warrant or Right, Outstanding | shares |
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37,379,158
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Derivative Liability, Fair Value, Gross Liability |
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$ 19,543
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
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26,190,476
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3,000,000
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3,000,000
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Share Price | $ / shares |
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$ 0.0086
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Cancellation Of Shares For Convertible Notes Payable |
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$ 112,500
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0
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Gain (Loss) on Repurchase of Debt Instrument |
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(131,900)
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(58,893)
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Derivative Liability |
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1,119,911
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$ 1,050,182
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Issuance of Convertible Promissory Notes for Services |
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250,000
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0
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Public Utility, Equities [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Interest Rate, Stated Percentage |
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8.00%
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December Letter Agreement [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
$ 150,000
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Debt Instrument, Interest Rate, Stated Percentage |
8.00%
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Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger |
65.00%
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Additionally Debt Instrument Unamortized Premium |
$ 80,769
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Interest Payable |
$ 986
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Stock Redeemed or Called During Period, Shares | shares |
12,500,000
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Stock Redeemed or Called During Period, Value |
$ 150,000
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Interest Percentage On Default |
18.00%
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Gain (Loss) on Repurchase of Debt Instrument |
$ 37,500
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Debt Instrument, Term |
2 years
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Debt Instrument, Payment Terms |
The Delafield Note may be prepaid at any time at 135% of the principal amount plus any accrued interest.
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October Securities Purchase Agreement [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Interest Rate, Effective Percentage |
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24.00%
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2016 Warrants [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
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240,000,000
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Stock Issued During Period, Shares, New Issues | shares |
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12,500,000
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Share Price | $ / shares |
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$ 0.012
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$ 0.012
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Stock Issued During Period, Value, New Issues |
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$ 150,000
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2016 Warrants [Member] | December Letter Agreement [Member] |
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Debt Instrument [Line Items] |
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Share Price | $ / shares |
$ 0.012
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Cancellation Of Shares For Convertible Notes Payable |
$ 112,500
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Five Month Warrant [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
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200,000,000
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Stock Issued During Period, Value, New Issues |
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$ 600,000
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Volume Weighted Average Price Of Common Stock |
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200.00%
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200.00%
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Five Month Warrant [Member] | Additional Warrants [Member] |
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Debt Instrument [Line Items] |
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Stock Issued During Period, Value, New Issues |
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$ 350,000
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Two Year Warrant [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
$ 0.10
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$ 0.10
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
40,000,000
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40,000,000
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Five Month Warrant and the Two Year Warrant [Member] |
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Debt Instrument [Line Items] |
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Stock Issued During Period, Value, New Issues |
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$ 200,000,000
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New Warrant [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
$ 0.05
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Long-term Debt, Gross |
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$ 1,524,194
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Warrants Not Settleable in Cash, Fair Value Disclosure |
$ 910,178
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
26,000,000
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Maximum [Member] | 2016 Warrants [Member] |
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Debt Instrument [Line Items] |
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Percentage Of Outstanding Shares Of Common Stock |
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9.99%
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Maximum [Member] | Five Month Warrant [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
$ 0.012
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$ 0.020
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Minimum [Member] | 2016 Warrants [Member] |
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Debt Instrument [Line Items] |
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Percentage Of Outstanding Shares Of Common Stock |
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4.99%
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Minimum [Member] | Five Month Warrant [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
$ 0.020
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0.012
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Delafield Financing [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Convertible, Conversion Price | $ / shares |
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$ 0.03
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
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$ 0.012
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
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26,190,476
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Warrants and Rights Outstanding |
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$ 314,286
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Additional Expense, Warrants, Incremental Increase In Value |
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$ 21,000
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Debt Instrument, Unamortized Discount, Percentage |
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22.50%
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Delafield Financing [Member] | Maximum [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
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0.60
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Delafield Financing [Member] | Minimum [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
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$ 0.012
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Convertible Debt [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Convertible, Conversion Price | $ / shares |
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$ 0.03
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Convertible Debt [Member] | October Securities Purchase Agreement [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
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$ 100,000
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Convertible Debt [Member] | October Securities Purchase Agreement [Member] | Public Utility, Equities [Member] |
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Debt Instrument [Line Items] |
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Additionally Debt Instrument Unamortized Premium |
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$ 66,667
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Interest Payable |
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1,359
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Long-term Debt, Gross |
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100,000
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Convertible Debt [Member] | Regal Consulting Agreement [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
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$ 250,000
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Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger |
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65.00%
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Interest Payable |
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3,014
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Debt Instrument, Convertible, Conversion Price | $ / shares |
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$ 0.01
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Debt Instrument, Description |
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Both notes are junior and subordinate in all respects to the existing debt of the Company pursuant to that certain 5% Original Issue Discount Senior Secured Convertible Debenture with an original issue date of October 28, 2015 and the 5% Original Issue Discount Senior Secured Convertible Debenture with an original issue date of September 13, 2016.
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Long-term Debt, Gross |
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250,000
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Debt Instrument, Term |
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2 years
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Derivative Liability |
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255,757
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Issuance of Convertible Promissory Notes for Services |
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$ 250,000
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Convertible Debt [Member] | December 12,2016 Securities Purchase Agreement [Member] |
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Debt Instrument [Line Items] |
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Additionally Debt Instrument Unamortized Premium |
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$ 66,667
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Interest Payable |
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$ 438
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Debt Instrument, Interest Rate, Effective Percentage |
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60.00%
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Convertible Debt [Member] | December 21,2016 Securities Purchase Agreement [Member] |
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Debt Instrument [Line Items] |
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Interest Payable |
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380
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Long-term Debt, Gross |
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157,500
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$ 157,500
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Securities Purchase Agreement [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
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4,400,000
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Debt Instrument, Increase (Decrease), Other, Net |
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$ 25,000
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
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$ 0.60
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Class of Warrant or Right, Outstanding | shares |
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240,000,000
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26,190,476
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Warrants Not Settleable in Cash, Fair Value Disclosure |
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$ 910,178
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$ 712,110
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Securities Purchase Agreement [Member] | Delafield Financing [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
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$ 4,000,000
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Debt Conversion, Converted Instrument, Amount |
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$ 150,000
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Debt Instrument, Convertible, Conversion Price | $ / shares |
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$ 0.03
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Long-term Debt, Gross |
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$ 165,000
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Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares |
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26,190,476
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Debt Instrument, Interest Rate, Effective Percentage |
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5.00%
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Debt Instrument, Unamortized Discount, Percentage |
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10.00%
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Securities Purchase Agreement [Member] | Delafield Financing [Member] | 2016 Warrants [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Interest Rate, Stated Percentage |
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18.00%
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Debt Instrument, Unamortized Discount, Percentage |
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30.00%
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Debenture [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Interest Rate, Stated Percentage |
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5.00%
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Interest Payable |
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217,500
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Debt Instrument, Description |
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payable quarterly in cash (or if certain conditions are met, in stock at the Companys option) on January 1, April 1, July 1 and October 1. The Debenture was, prior to the Addendum (as defined below), convertible at any time, in whole or in part, at the Purchasers option into shares of the Companys Common Stock at a conversion price equal to $0.042, which is the volume weighted average price (VWAP) of the Companys Common Stock five days prior to the execution of the Debenture (subject to adjustment) (the Conversion Price). At any time after the effective date of the registration statement, the Purchaser has the opportunity to convert up to an aggregate of $2,090,000 of the Debenture, at one or more conversion dates, into shares of Common Stock at a conversion price equal to the VWAP of the Common Stock over the five (5) trading days prior to such Effective Date. The Purchaser option to convert at such a conversion price expires when the Purchaser converts an aggregate of $2,090,000 of the Debenture using such conversion price. If the VWAP of the Company Common Stock on any trading day is less than the Conversion Price, the Purchaser may convert at a price per share equal to a twenty percent (20%) discount to the average of the two lowest closing prices during the five trading days prior to the date of conversion. At no time will the Purchaser be entitled to convert any portion of the Debenture to the extent that after such conversion, the Purchaser (together with its affiliates) would beneficially own more than 4.99% of the outstanding shares of Common Stock as of such date. During the year ended June 30, 2016, the Company withdrew a principal amount of $2,800,000 from the deposit control account of which $269,976 was paid directly as partial payment of a note dated June 4, 2015 and $33,437 was paid directly to legal fees resulting in net cash proceeds of $2,496,587 received by the Company. An aggregate total of $1,955,300 was bifurcated with the embedded conversion option recorded as a derivative liability at fair value (See Note 10). During the year ended June 30, 2016, the Purchaser converted $2,790,806 of principal and $108,750 of accrued interest into shares of the Companys common stock (See Note 6). During the six months ended December 31, 2016, the holder converted $350,000 of principal and accrued interest of $108,750 into shares of the Companys common stock (See Note 6). Accrued interest as of December 31, 2016 was $0.
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Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |
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$ 0.60
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Long-term Debt, Gross |
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4,350,000
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Derivative Liability, Fair Value, Gross Liability |
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$ 199,585
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Debt Discounts [Member] |
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Debt Instrument [Line Items] |
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Amortization of debt discount |
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$ 1,371,171
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$ 961,735
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