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Debt Discount
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Debt Discount

Note 10 Debt Discount

 

The Company recorded the debt discount to the extent of the gross proceeds raised, and expensed immediately the remaining fair value of the derivative liability, as it exceeded the gross proceeds of the note.

 

Accumulated amortization of derivative discount amounted to $4,402,773 as of June 30, 2017 and December 31, 2016.

 

The Company recorded $197,332 and $474,283 amortization of debt discount expense for the three-months and six-months ended June 30 2016, respectively. The Debt Discount was fully amortized as of June 30, 2017 and no expense was incurred for the periods presented.