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Subsequent Events (Details) (USD $)
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1 Months Ended | 0 Months Ended | 1 Months Ended |
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Aug. 29, 2013
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Jun. 05, 2014
Subsequent Event [Member]
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Jun. 18, 2014
Subsequent Event [Member]
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| Subsequent Events Textual [Abstract] | |||
| Original Issue Discount Promissory Note | $ 80,000 | $ 60,000 | |
| Promissory note, maturity date | Jul. 06, 2014 | Jul. 18, 2014 | |
| Promissory note, interest rate terms | The August Convertible Notes bear interest at a rate of 8% per annum, which is paid quarterly. Interest is payable in cash or at the Company’s option in shares of common stock, provided certain conditions are met, based on a share value equal to the lesser of (a) 90% of the average of the volume weighted average price (the “VWAP”) for the 20 consecutive trading days prior to the applicable interest payment date and (b) 100% of the average of the VWAP for the 20 consecutive trading days prior to the applicable interest payment date less $1.00. Upon any Event of Default (as defined in the August Convertible Notes), the outstanding principal amount of each August Convertible Note, plus liquidated damages, interest, a premium of 30% and other amounts owing in respect thereof through the date of acceleration, shall become, at the noteholders’ election, immediately due and payable in cash. Commencing five days after the occurrence of any Event of Default, the interest rate on each August Convertible Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. The August Conversion Price is subject to “full ratchet” and other customary anti-dilution protections. |
The interest rate on the OID Note shall accrue at the rate of eighteen (18) percent per annum, or such lower maximum amount of interest permitted to be charged under applicable law. |
The interest rate on the OID Note shall accrue at the rate of eighteen (18) percent per annum, or such lower maximum amount of interest permitted to be charged under applicable law. |