Notes Payable (Details Narrative 1) |
1 Months Ended | ||
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Nov. 30, 2010
USD ($)
Number
shares
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Mar. 31, 2016
USD ($)
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Dec. 31, 2015
USD ($)
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Debt Instrument [Line Items] | |||
Common stock fair value | $ | $ 2,775,300 | ||
Unamortized discount | $ | $ 2,762,429 | ||
Officer [Member] | |||
Debt Instrument [Line Items] | |||
Number of unit issued | 882,726 | ||
Number of officers and directors | Number | 4 | ||
Value of unit issued | 247,164 | ||
Non-Employee Directors [Member] | |||
Debt Instrument [Line Items] | |||
Number of unit issued | 567,203 | ||
Number of officers and directors | Number | 3 | ||
Value of unit issued | 158,816 | ||
2010 Junior Secured Notes Payable [Member] | |||
Debt Instrument [Line Items] | |||
Description of unit |
Units consisting of a junior secured note (the 2010 Secured Notes) and one share of the Companys common stock. |
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Number of unit issued | 10,714,286 | ||
Debt face amount | $ | $ 3,000,000 | ||
Description of maturity date |
Mature in November 2020 |
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Stated interest rate | 3.50% | ||
Description of collateral terms |
Collateralized by a security interest in the assets of the Company, which security interest is junior and subordinate to the security interests that collateralize the Brainlab Note and the 2014 Secured Notes. |
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Description of payment terms |
Interest on the 2010 Secured Notes will be due and payable in a single payment upon maturity. |
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Unamortized discount | $ | $ 2,775,300 | $ 2,481,510 | $ 2,535,230 |
Interest expense terms |
10-year term of the notes using the effective interest method. |
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- Definition Information refers to description of unit. No definition available.
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- Definition It represents as a number of officers and directors. No definition available.
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- Definition Represents as a number of unit issued. No definition available.
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- Definition Information about number of unit issued value. No definition available.
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- Definition Discussion of whether the debt instrument is secured or unsecured, and, if secured, a description of the collateral and guarantees required or provided. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after accumulated amortization, of debt discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value of the entity's equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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