v3.19.2
Notes Payable and Notes Payable - Related Parties (Details 2) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Schedule of notes payable, related parties convertible    
Total $ 1,327,450
Notes Payable One [Member]    
Schedule of notes payable, related parties convertible    
Total [1] 60,000
Notes Payable Two [Member]    
Schedule of notes payable, related parties convertible    
Total [1] 114,000
Notes Payable Three [Member]    
Schedule of notes payable, related parties convertible    
Total [2] 100,000
Notes Payable Four [Member]    
Schedule of notes payable, related parties convertible    
Total [3] 50,000
Notes Payable Five [Member]    
Schedule of notes payable, related parties convertible    
Total [2] 100,000
Notes Payable Six [Member]    
Schedule of notes payable, related parties convertible    
Total 50,000
Notes Payable Seven [Member]    
Schedule of notes payable, related parties convertible    
Total 200,000
Notes Payable Eight [Member]    
Schedule of notes payable, related parties convertible    
Total [2] 300,000
Notes Payable Nine [Member]    
Schedule of notes payable, related parties convertible    
Total [4] 30,000
Notes Payable Ten [Member]    
Schedule of notes payable, related parties convertible    
Total [5] 49,000
Notes Payable Eleven [Member]    
Schedule of notes payable, related parties convertible    
Total [6] 25,700
Notes Payable Twelve [Member]    
Schedule of notes payable, related parties convertible    
Total [1] 20,000
Notes Payable Thirteen [Member]    
Schedule of notes payable, related parties convertible    
Total [7] 158,750
Notes Payable Fourteen [Member]    
Schedule of notes payable, related parties convertible    
Total [8] 20,000
Notes Payable Fifteen [Member]    
Schedule of notes payable, related parties convertible    
Total [2] $ 50,000
[1] Notes (a), (b) and (l) reflect amounts due to a single outside director of the Company, who also is a principal shareholder, based on such director having (i) made certain vendor obligation payments directly on behalf of and for the benefit of the Company, (ii) having advanced certain funds to the Company at various dates for general working capital purposes, and (iii) having accrued director's fees earned through June 30, 2017. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of note (a) a total of 65,396 shares of the Company's Series RX-1 preferred stock in exchange for $60,000 of debt owed, inclusive of accrued interest (total $73,560). The Company also issued the holder of note (b) a total of 32,367 shares of the Company's Series RX-1 preferred stock and a warrant for the total of 187,396 shares of the Company's Series RX-2 preferred stock in exchange for the cumulative $114,000 of debt owed, inclusive of accrued interest (total $130,281). In addition, the Company has recorded accounts payable, related parties, in the amount of $18,426 to the holder of notes (a), (b), and (l). See Note 10.
[2] Notes (c), (e) through (h) and (o) reflect amounts due to a certain related party investor and principal shareholder for convertible debt investments made from time to time as indicated. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of the notes a total of 822,639 shares of the Company's Series RX-1 preferred stock in exchange for the cumulative $800,000 of debt owed, inclusive of accrued interest (total $1,070,974). See Note 10.
[3] Note (d) reflects an amount due to a certain related party investor and principal shareholder for convertible debt investments made from time to time as indicated. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of the note a total of 52,325 shares of the Company's Series RX-1 preferred stock in exchange for $50,000 of debt owed, inclusive of accrued interest (total $69,041). See Note 10.
[4] Notes (i) reflects two notes payable for amounts due to an outside director, who is also a minority shareholder, for accrued director's fees earned through June 30, 2017. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of the notes a warrant for a total of 66,966 shares of the Company's Series RX-2 preferred stock in exchange for $30,000 of debt owed, inclusive of accrued interest (total $33,483). See Note 10.
[5] Note (j) reflects amounts due to the Company's former vice president of research and development, who is also a minority shareholder, for previously accrued wages. In May 2019, the holder of the note exercised the right to convert the $49,000 note, inclusive of accrued interest (total $55,237) into 7,890,958 shares of common stock at the conversion rate of $0.007 per share per the terms of the note. See Note 10.
[6] Note (k) reflects amounts due to an independent contractor who was President of one of RexPro's divisions prior to the merger with RexPro and a current minority shareholder of the Company, for past earnings. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of the note a warrant for a total of 58,006 shares of the Company's Series RX-2 preferred stock in exchange for $25,700 of debt owed, inclusive of accrued interest (total $29,003). See Note 10.
[7] Note (m) reflects two notes payable for amounts due to an independent contractor, who is also minority shareholder, for previously accrued business development services. On October 31, 2018, the holder of one note with an original face value of $137,500 exercised the right to convert $60,000 of the note into six million shares (6,000,000) of common stock at the conversion rate of $0.01 per share per the terms of the note. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of the notes a warrant for a total of 337,320 shares of the Company's Series RX-2 preferred stock in exchange for $158,780 of debt owed, inclusive of accrued interest (total $168,660). See Note 10.
[8] Note (n) reflects an amount due to a certain related party investor, who is also a minority shareholder, for a convertible debt investment. In June 2019, as part of the Company's debt restructuring initiative, the Company issued the holder of the note a total of 20,483 shares of the Company's Series RX-1 preferred stock in exchange for $20,000 of debt owed, inclusive of accrued interest (total $22,580). See Note 10.