Quarterly report pursuant to Section 13 or 15(d)

Bridge Financing, Notes Payable, and Accrued Interest (Tables)

v2.4.0.8
Bridge Financing, Notes Payable, and Accrued Interest (Tables)
 9 Months Ended
Sep. 30, 2014
Bridge Financing Notes Payable And Accrued Interest Tables  
Company's discounts to its Bridge Notes
    VMCO     ASID     Total  
December 31, 2012   $ (481,390 )   $ (1,003,359 )   $ (1,484,749 )
Additions     (1,936,191 )     (2,678,523 )     (4,614,714 )
Amortization     2,417,581       3,681,882       6,099,463  
December 31, 2013   $ -     $ -     $ -  
Additions     -       -       -  
Amortization     -       -       -  
September 30, 2014   $ -     $ -     $ -  
Summary of Notes Payable and Accrued Interest
    Notes Payable     Accrued Interest  
    September 30, 2014     December 31, 2013     September 30, 2014     December 31, 2013  
                                 
Unsecured (as amended) note payable due to our Company’s former Chief Executive Officer, interest accrues at the rate of 9% compounded annually, all amounts due and payable December 31, 2008. Currently past due.     20,000       20,000       19,505       16,943  
                                 
                                 
    Notes payable     20,000       20,000       19,505       16,943  
                                 
Totals   $ 20,000     $ 20,000     $ 19,505     $ 16,943  
Interest Expense
    Three months ended September 30,     Nine months ended September 30,  
    2014     2013     2014     2013  
Amortization of note discounts   $ -     $ -     $ -     $ 6,134,367  
Amortization of deferred financing costs     -       -       -       -  
Other interest expense     883       807       2,563       212,993  
    $ 883     $ 807     $ 2,563     $ 6,347,360