Quarterly report pursuant to Section 13 or 15(d)

Related-Party Transitions

v3.4.0.3
Related-Party Transitions
3 Months Ended
Mar. 31, 2016
Related-Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS

12. RELATED-PARTY TRANSACTIONS

 

Convertible Notes Receivable

 

See footnote 4 for a discussion of related party convertible notes receivable.

 

Notes Payable

 

The Company has a demand promissory note with Neurotrophics, which is due 365 days upon demand of the holder. At the option of the Company, the note and the accrued interest owed can be repaid by issuing shares of its common stock based on the closing price of the Company’s common stock on the day of the conversion. The conversion price if converted on March 31, 2016 would be $0.05 related to the note and accrued interest on the note and would convert to approximately 5.2 million shares.