Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

v3.2.0.727
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2015
Notes to Financial Statements  
NOTE 7 - SUBSEQUENT EVENTS

 

Forbearance Agreement

 

On July 16, 2015, the Company entered into a forbearance agreement (the “Agreement”) with MedTech Development, the holder of a Promissory Note issued by the Company, dated October 10, 2014.  Pursuant to the Agreement, the term of the Note was extended to October 1, 2015 and the Note began accruing interest starting from May 13, 2015.  In addition, the Company agreed to make certain mandatory prepayments under certain circumstances and issue to MedTech Development 200,000 shares of restricted common stock of the Company.