Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events



The Company evaluated its June 30, 2017, condensed consolidated financial statements for subsequent events through August 11, 2017, the date the consolidated financial statements were available to be issued and noted the following non-recognized events for disclosure.


Stock issuance


In July and August 2017 (through August 11, 2017), the Company sold securities in a self-directed offering in the aggregate amount of $548,000 at $0.12 per unit. Each unit consisted of 1 share of restricted common stock (4,566,663 shares) and a five-year warrant to purchase 1 share of restricted common stock (4,566,663 warrant shares) at $0.12 per share.


Service agreement


On August 8, 2017, the Company granted 100,000 shares of restricted common stock to a service provider. These shares are subject to a risk of forfeiture. Twenty five percent (25%) of the shares vested immediately upon issuance, and twenty-five percent (25%) of the shares vest at the end of each calendar quarter thereafter.