Annual report pursuant to Section 13 and 15(d)

Subsequent Events (Details Narrative)

v3.19.1
Subsequent Events (Details Narrative) - Subsequent Event [Member] - AC Midwest Unsecured Note [Member] - February 25, 2019 [Member]
12 Months Ended
Dec. 31, 2018
USD ($)
Exchanged subordinate note $ 13,154,931
Maturity date Aug. 25, 2022
Profit participation description If the original principal amount is paid in full on or before August 25, 2020 (18 months from issuance), AC Midwest shall be entitled to a profit participation preference equal to 0.5 times the original principal amount, and if the original principal amount is paid in full after August 25, 2020, AC Midwest shall be entitled to a profit participation preference equal to 1.0 times the original principal amount (the “Profit Share”).
Litigation proceeds description The Company shall pay the principal outstanding, as well as the Profit Share, in an amount equal to 60.0% of Net Litigation Proceeds until such time as any litigation funder has been paid in full and, thereafter, in an amount equal to 75.0% of such Net Litigation Proceeds until the Unsecured Note and Profit Share have been paid in full. In addition, and within 30 days following the end of each fiscal quarter, the Company shall pay the principal outstanding and Profit Share in an aggregate amount equal to the Net Revenue Share (which means 60.0% of Net Licensing Revenue (as defined) from licensing the Company’s intellectual property) plus Adjusted Free Cash Flow until the Unsecured Note and Profit Share have been paid in full, provided, however, that such payments shall exclude the first $3,500,000 of Net Licensing Revenue and Adjusted Free Cash Flow achieved commencing with the fiscal quarter ending March 31, 2019.
Long term debt $ 1,261,686
Extended debt principal balance $ 271,686