Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events



Management has evaluated all subsequent events to determine if events or transactions occurring through the date the condensed consolidated financial statements were issued, require adjustment to or disclosure in the condensed consolidated financial statements.


Equity Transactions


During the period from April 1, 2016 through the filing date of this report, the Company sold 463,265 shares of its common stock for cash proceeds of $1,158,162.


Entry into a Material Agreement

The Company entered into an Investor Relations Consulting Agreement effective April 8, 2016 (the “Agreement”) with MZHCI LLC (“MZHCI”) to provide consulting services with respect to financial markets and exchanges, competitors, business acquisitions and other related matters in exchange for consideration of $6,500 per month plus warrants for the purchase of up to 150,000 shares of the Company’s common stock.

In connection with the Agreement, warrants for the purchase of 75,000 shares of the Company’s common stock were granted to MZHCI on April 18, 2016. The warrants had an exercise price of $2.50 and vest on July 8, 2016.

Foreign Currency Exchange Rates


The Argentine peso to United States dollar exchange rate was 14.2181, 14.6162 and 12.9441 at May 11, 2016, March 31, 2016 and December 31, 2015, respectively.