| Schedule of convertible debt discount |
|
August Convertible Note Face Value
|
|
$
|
616,000
|
|
|
Debt Discount
|
|
|
|
|
|
August Convertible Notes – Issued Warrant Derivative
|
|
|
87,264
|
|
|
Conversion Feature Derivative
|
|
|
25,827
|
|
|
Original Issue Discount
|
|
|
66,000
|
|
|
Total Debt Discount
|
|
$
|
179,091
|
|
|
Amortization of Debt Discount, as of March 31, 2014
|
|
|
(179,091
|
)
|
|
Debt Discount, Net
|
|
$
|
0
|
|
| |
|
|
|
|
|
August Convertible Note Carrying Value at March 31, 2014, gross
|
|
$
|
616,000
|
|
|
Conversion of August Convertible Note into Preferred
|
|
|
(616,000
|
) |
|
August Convertible Note Carrying Value at March 31, 2014, net
|
|
$
|
0
|
|
|
June Convertible Notes Face Value
|
|
$
|
1,680,000
|
|
|
Debt Discount
|
|
|
|
|
|
June Convertible Notes – Issued Warrant Derivative
|
|
|
752,126
|
|
|
Conversion Feature Derivative
|
|
|
491,051
|
|
|
Original Issue Discount
|
|
|
180,000
|
|
|
Total Debt Discount
|
|
$
|
1,423,177
|
|
|
Amortization of Debt Discount, as of March 31,
2014
|
|
|
(709,107
|
)
|
|
Debt Discount, gross
|
|
$
|
714,070
|
|
|
Amortized under Loss from Extinguishment as of March 31, 2014
|
|
|
568,341
|
|
|
Debt Discount, net
|
|
$
|
145,729
|
|
| |
|
|
|
|
|
June Convertible Notes Carrying Value at March 31, 2014, gross (net of debt discounts of $714,070)
|
|
$
|
965,930
|
|
|
Conversion of June Convertible Notes into Preferred
|
|
|
768,802
|
|
|
June Convertible Notes Carrying Value at March 31, 2014, net (net of debt discounts of $145,729)
|
|
$
|
197,128
|
|
|
| Schedule of deferred financing cost |
|
Legal fees and other fees associated with the Bridge Note offering
|
|
$
|
120,405
|
|
|
Total Deferred Financing Costs
|
|
$
|
120,405
|
|
|
Amortization of Deferred Financing Costs, as of March 31, 2014
|
|
|
(239
|
)
|
|
Deferred Financing Costs, Net, as of March 31, 2014
|
|
$
|
120,166
|
|
|
Legal fees and other fees associated with the August Convertible Notes offering
|
|
$
|
62,065
|
|
|
Total Deferred Financing Costs
|
|
$
|
62,065
|
|
|
Amortization of Deferred Financing Costs, as of March 31, 2014
|
|
|
(62,065
|
)
|
|
Deferred Financing Costs, Net, as of March 31, 2014
|
|
$
|
0
|
|
|
Placement agent and other fees associated with the June Convertible Notes offering
|
|
$
|
304,293
|
|
|
June Convertible Note Broker Warrants
|
|
|
60,886
|
|
|
Total Deferred Financing Costs
|
|
$
|
365,179
|
|
|
Amortization of Deferred Financing Costs, as of March 31, 2014
|
|
|
(327,785
|
)
|
|
Deferred Financing Costs, Net, as of March 31, 2014
|
|
$
|
37,394
|
|
|