Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.10.0.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of the level of the inputs used in the company's fair value calculation for instruments carried at fair value

. The table below reflects the level of the inputs used in the Company’s fair value calculations:

 

    Quoted Prices
in Active
Markets
(Level 1)		   Significant
Observable Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		   Total Fair
Value		  
                           
June 30, 2018                          
Derivative liabilities - warrants   $ -   $ -   $ 8,795   $ 8,795  
Derivative liabilities – debt conversion feature   $ -   $ -   $ 13,500   $ 13,500  
December 31, 2017                          
Derivative liabilities - warrants   $ -   $ -   $ 79,286   $ 79,286  
Derivative liabilities – debt conversion feature   $ -   $ -   $ 16,500   $ 16,500  
Schedule of the carrying values and the estimated fair values, based on level 3 inputs

The table below reflects the carrying values and the estimated fair values, based on Level 3 inputs, of the Company’s outstanding notes payable, including the related accrued interest, at June 30, 2018 and December 31, 2017:

 

    Carrying Values   Estimated
Fair Values		  
June 30, 2018              
Senior secured note payable, including accrued interest   $  2,027,806   $  2,027,806  
2014 junior secured notes payable, including accrued interest   $  1,982,367   $  2,042,625  
2010 junior secured notes payable, including accrued interest   $  2,081,228   $  3,805,000  
               
December 31, 2017              
Senior secured note payable, including accrued interest   $ 2,028,111   $ 2,028,111  
2014 junior secured notes payable, including accrued interest   $ 1,942,195   $ 2,042,625  
2010 junior secured notes payable, including accrued interest   $ 1,796,042   $ 3,752,500  
Schedule of concentration of risk

Information with respect to customers that accounted for sales in excess of 10% of total sales in the three-month periods ended June 30, 2018 and 2017 is as follows:

 

  Three Months Ended June 30,
  2018   2017
Customer – 1 10%   11%
Customer – 2 10%   -

 

No customers accounted for sales in excess of 10% of total sales in either of the six-month periods ended June 30, 2018 and 2017.

 

Information with respect to accounts receivable from those customers who comprised more than 10% of accounts receivable at June 30, 2018 and December 31, 2017 is as follows:

 

  June 30, 2018   December 31, 2017
Customer – 1 18%   10%
Customer – 2 14%   -