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.

Foreign Currency Exchange Rates

The Argentine peso to United States dollar exchange rate was 14.9749, 15.3338 and 12.9441 at November 10, 2016, September 30, 2016 and December 31, 2015, respectively.

Issuance of Common Stock

On October 31, 2016, the Company issued 50,000 shares of its common stock for cash proceeds of $100,000.

Warrants

On October 18, 2016, the Company granted five-year warrants for the purchase of 75,000 shares of its common stock to MZHCI, pursuant to the Investor Relations Consulting Agreement.

Stock Options

On October 20, 2016, options for the purchase of 100,000 shares of the Company’s common stock were granted to an employee of the Company and options for the purchase of an aggregate 400,000 shares of the Company’s common stock were granted to Company consultants, under the 2016 Plan.

Termination of Consulting Agreement

On or about October 28, 2016, the Company terminated its agreement with Maxim for general advisory and investment banking services. In connection with the termination, the Company is currently in negotiations with Maxim for a return of a portion of the 350,000 shares of common stock valued at $2.50 per share previously issued to Maxim but there can be no assurance that any shares will be returned.