Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events

Note 12. Subsequent Events

 

Subsequent to the period ending March 31, 2017 the Company and Berwin Trading Limited agreed to extend the maturity date of a debenture in the amount of $1,250,000, originally made on December 30, 2016 and funded on January 6, 2017, with interest accruing at a rate of 9% per annum and principal and interest due at the original maturity of May 6, 2017. The parties agreed that the debenture will become due and payable on June 20, 2017, and the interest charged on the debenture will increase from 9% per year to 13.5% per year for the life of the debenture.

 

Effective May 1, 2017, we signed a 39-month lease for our Denver corporate office and effective April 1, 2017, we signed a 37-month lease for our Houston division office.