Shareholder and Related Party Advances |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2015 | |||
| Shareholder and Related Party Advances [Abstract] | |||
| SHAREHOLDER AND RELATED PARTY ADVANCES |
As of June 30, 2015, the Company had deposits for approximately $600,000 that were not yet issued as common stock.
The Company issued a promissory note to an accredited investor in consideration of $100,000. The interest on the unpaid principal balance is a rate of ten percent (10%) per annum and the principal and interest on the outstanding balance is to be paid by September 1, 2015. In the event that the Company raises in excess of $2,000,000 in equity financing, then the Company is required to use part of its proceeds to pay off this note. |