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Emmaus Life Sciences, Inc. – ‘10-K’ for 9/30/15 – ‘R36’

On:  Tuesday, 1/5/16, at 5:13pm ET   ·   For:  9/30/15   ·   Accession #:  1615774-16-3804   ·   File #:  1-35527

Previous ‘10-K’:  ‘10-K/A’ on 1/23/15 for 9/30/14   ·   Next:  ‘10-K’ on 12/22/16 for 9/30/16   ·   Latest:  ‘10-K’ on 3/31/23 for 12/31/22

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/05/16  Emmaus Life Sciences, Inc.        10-K        9/30/15   77:6.5M                                   S2 Filings LLC/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    869K 
 2: EX-3.1.3    Articles of Incorporation/Organization or Bylaws    HTML     26K 
 3: EX-10.25    Material Contract                                   HTML     72K 
 4: EX-10.26    Material Contract                                   HTML     29K 
 5: EX-23.1     Consent of Experts or Counsel                       HTML     21K 
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     26K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 9: EX-32.2     Certification -- §906 - SOA'02                      HTML     22K 
16: R1          Document and Entity Information                     HTML     50K 
17: R2          Consolidated Balance Sheets                         HTML    103K 
18: R3          Consolidated Balance Sheets (Parenthetical)         HTML     40K 
19: R4          Consolidated Statements of Operations               HTML     84K 
20: R5          Consolidated Statements of Changes in               HTML     58K 
                Stockholders' Deficit                                            
21: R6          Consolidated Statements of Cash Flows               HTML    112K 
22: R7          Nature of Operations                                HTML     39K 
23: R8          Summary of Significant Accounting Policies          HTML     84K 
24: R9          Discontinued Operations                             HTML     45K 
25: R10         Convertible Debt and Equity Financings              HTML     52K 
26: R11         Derivative Liabilities                              HTML     38K 
27: R12         Stockholders' Deficit                               HTML    121K 
28: R13         Income Taxes                                        HTML     46K 
29: R14         Related Party Transactions                          HTML     66K 
30: R15         Loss Per Share                                      HTML     41K 
31: R16         Commitments and Contingent Liabilities              HTML     50K 
32: R17         Significant Customers                               HTML     26K 
33: R18         Subsequent Events                                   HTML     61K 
34: R19         Summary of Significant Accounting Policies          HTML    127K 
                (Policies)                                                       
35: R20         Summary of Significant Accounting Policies          HTML     51K 
                (Tables)                                                         
36: R21         Discontinued Operations (Tables)                    HTML     43K 
37: R22         Convertible Debt and Equity Financings (Tables)     HTML     41K 
38: R23         Derivative Liabilities (Tables)                     HTML     34K 
39: R24         Stockholders' Deficit (Tables)                      HTML    101K 
40: R25         Income Taxes (Tables)                               HTML     44K 
41: R26         Loss Per Share (Tables)                             HTML     38K 
42: R27         Commitments and Contingent Liabilities (Tables)     HTML     35K 
43: R28         Subsequent Events (Tables)                          HTML     57K 
44: R29         Nature of Operations (Details Narrative)            HTML     48K 
45: R30         Summary of Significant Accounting Policies          HTML     30K 
                (Details)                                                        
46: R31         Summary of Significant Accounting Policies          HTML     34K 
                (Details 1)                                                      
47: R32         Summary of Significant Accounting Policies          HTML     61K 
                (Details Narrative)                                              
48: R33         Discontinued Operations (Details)                   HTML     41K 
49: R34         Discontinued Operations (Details 1)                 HTML     37K 
50: R35         Convertible Debt and Equity Financings (Details)    HTML     71K 
51: R36         Convertible Debt and Equity Financings (Details     HTML    110K 
                Narrative)                                                       
52: R37         Derivative Liabilities (Details)                    HTML     30K 
53: R38         Derivative Liabilities (Details Narrative)          HTML     58K 
54: R39         Stockholders' Deficit (Details)                     HTML     31K 
55: R40         Stockholders' Deficit (Details 1)                   HTML     43K 
56: R41         Stockholders' Deficit (Details 2)                   HTML     94K 
57: R42         Stockholders' Deficit (Details 3)                   HTML     44K 
58: R43         Stockholders' Deficit (Details 4)                   HTML     56K 
59: R44         Stockholders' Deficit (Details Narrative)           HTML     69K 
60: R45         Stockholders' Deficit (Details Narrative 1)         HTML    136K 
61: R46         Stockholders' Deficit (Details Narrative 2)         HTML     44K 
62: R47         Income Taxes (Details)                              HTML     39K 
63: R48         Income Taxes (Details 1)                            HTML     43K 
64: R49         Income Taxes (Details Narrative)                    HTML     27K 
65: R50         Related Party Transactions (Details Narrative)      HTML    171K 
66: R51         Related Party Transactions (Details Narrative 1)    HTML    198K 
67: R52         Loss Per Share (Details)                            HTML     54K 
68: R53         Commitments and Contingent Liabilities (Details)    HTML     57K 
69: R54         Commitments and Contingent Liabilities (Details     HTML     53K 
                Narrative)                                                       
70: R55         Significant Customers (Details Narrative)           HTML     31K 
71: R56         Subsequent Events (Details)                         HTML     40K 
72: R57         Subsequent Events (Details 1)                       HTML     38K 
73: R58         Subsequent Events (Details 2)                       HTML     37K 
74: R59         Subsequent Events (Details Narrative)               HTML     60K 
76: XML         IDEA XML File -- Filing Summary                      XML    131K 
75: EXCEL       IDEA Workbook of Financial Reports                  XLSX     89K 
10: EX-101.INS  XBRL Instance -- cnso-20150930                       XML   1.83M 
12: EX-101.CAL  XBRL Calculations -- cnso-20150930_cal               XML    157K 
13: EX-101.DEF  XBRL Definitions -- cnso-20150930_def                XML    752K 
14: EX-101.LAB  XBRL Labels -- cnso-20150930_lab                     XML   1.02M 
15: EX-101.PRE  XBRL Presentations -- cnso-20150930_pre              XML    963K 
11: EX-101.SCH  XBRL Schema -- cnso-20150930                         XSD    163K 
77: ZIP         XBRL Zipped Folder -- 0001615774-16-003804-xbrl      Zip    152K 


‘R36’   —   Convertible Debt and Equity Financings (Details Narrative)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.3.1.900
CONVERTIBLE DEBT AND EQUITY FINANCINGS (Details Narrative)
12 Months Ended
USD ($)
Number
$ / shares
USD ($)
USD ($)
Number
$ / shares
USD ($)
Number
USD ($)
USD ($)
$ / shares
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
Amendment Note Purchase Agreement [Member] | John Pappajohn [Member]                            
Description of conversion terms

Pursuant to the Omnibus Amendment, the Notes are convertible into shares of Common Stock at $0.055 per share: (i) automatically upon the closing of a qualified offering of not less than $5 million or (ii) voluntarily within 15 days prior to maturity.

                         
Amendment Note Purchase Agreement [Member] | RSJ Private Equity [Member]                            
Description of conversion terms    

Pursuant to the Omnibus Amendment, such Notes are convertible into shares of Common Stock at $0.05 per share: (i) automatically, upon the closing of a qualified offering of not less than $5 million, or (ii) voluntarily, within 15 days prior to maturity.

                     
Amendment Note Purchase Agreement [Member] | Robert Follman (Follman Family Trust [Member]                            
Description of conversion terms    

Pursuant to the Omnibus Amendment, these Notes are convertible into shares of Common Stock at $0.05 per share: (i) automatically, upon the closing of a qualified offering of not less than $5 million or (ii) voluntarily, within 15 days prior to maturity.

                     
Amendment Note Purchase Agreement [Member] | Robin L. Smith [Member]                            
Description of conversion terms    

Pursuant to the Omnibus Amendment, such Notes are convertible into shares of Common Stock at $0.05 per share: (i) automatically, upon the closing of a qualified offering of not less than $5 million, or (ii) voluntarily, within 15 days prior to maturity.

                     
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | RSJ Private Equity [Member]                            
Purchase of convertible note $ 1,100,000   $ 1,100,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Robert Follman (Follman Family Trust [Member]                            
Purchase of convertible note 250,000   250,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Mark Oman (Oman Ventures) [Member]                            
Purchase of convertible note 200,000   200,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Robin L. Smith [Member]                            
Purchase of convertible note $ 60,000   $ 60,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member]                            
Number of accredited investors | Number 9   9                      
Face amount                           $ 2,500,000
Conversion price (in dollars per share) | $ / shares $ 0.25   $ 0.25                      
Purchase of convertible note $ 3,000,000   $ 3,000,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | Michal Votruba [Member]                            
Purchase of convertible note $ 750,000   $ 750,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | John Pappajohn [Member]                            
Number of secured notes issued | Number 3   3                      
Purchase of convertible note $ 400,000   $ 400,000           $ 100,000 $ 100,000       200,000
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | Thomas Tierney (Tierney Family Trust) [Member]                            
Number of secured notes issued | Number 5   5                      
Description of conversion terms    

Pursuant to the Omnibus Amendment, all such Notes are convertible into shares of Common Stock at $0.05 per share: (i) automatically, upon the closing of a qualified offering of not less than $5 million, or (ii) voluntarily, within 15 days prior to maturity.

                     
Purchase of convertible note $ 540,000   $ 540,000       $ 25,000 $ 100,000     $ 115,000 $ 100,000   200,000
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | RSJ Private Equity [Member]                            
Purchase of convertible note 750,000   750,000                   $ 750,000  
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | Robert Follman (Follman Family Trust [Member]                            
Purchase of convertible note 100,000   $ 100,000               $ 100,000      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | Mark Oman (Oman Ventures) [Member]                            
Description of conversion terms    

Pursuant to the Omnibus Amendment, such Notes are convertible into shares of Common Stock at $0.05 per share: (i) automatically, upon the closing of a qualified offering of not less than $5 million, or (ii) voluntarily, within 15 days prior to maturity.

                     
Purchase of convertible note $ 200,000   $ 200,000                     $ 200,000
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Original Note Purchase Agreement [Member] | RSJ Private Equity & Eight Accredited Investors [Member]                            
Number of accredited investors | Number 9   9                      
Number of secured notes issued | Number 15   15                      
Face amount $ 2,270,000   $ 2,270,000                      
5% Senior Secured Notes Convertible (the "September 2014 Notes") [Member] | Amendment Note Purchase Agreement [Member]                            
Face amount   $ 3,000,000                        
Issuance of debt   $ 500,000                        
Conversion price (in dollars per share) | $ / shares           $ 0.05                
Description of conversion terms    

Conversion price of all notes will be $0.05 per share (as adjusted for stock splits, stock dividends, combinations or the like affecting the Common Stock) (the “Fixed Conversion Price”) (i) automatically, in the event of a qualified financing of not less than $5 million, or (ii) voluntary, within 15 days prior to the maturity date of the note. The Omnibus Amendment also amended the form of note attached to the Note Purchase Agreement to reflect the Fixed Conversion Price.

                     
Description of collateral    

Secured by a security interest in the Company’s intellectual property, as detailed in a security agreement.

                     
Description of repayment priority    

Upon a change of control of the Company, the holder of a Note will have the option to have the Note repaid with a premium equal to 50% of the outstanding principal.

                     
Secured Convertible Promissory Notes (September 2015 Notes) [Member]                            
Number of accredited investors | Number       6                    
Face amount $ 3,000,000   $ 3,000,000 $ 710,000                    
Conversion price (in dollars per share) | $ / shares $ 0.25   $ 0.25                      
Secured Convertible Promissory Notes (September 2015 Notes) [Member] | John Pappajohn [Member]                            
Description of conversion terms

The September 2015 Notes are convertible into share of Common Stock (i) automatically, in the event of a qualified financing of not less than $5 million, or (ii) voluntary, within 15 days prior to the maturity date of the note. The Omnibus Amendment also amended the form of note attached to the Note Purchase Agreement to reflect the Fixed Conversion Price, such that the conversion price of all notes will be $0.05 per share (as adjusted for stock splits, stock dividends, combinations or the like affecting the Common Stock) (the “Fixed Conversion Price”).

                         
Secured Convertible Promissory Notes (September 2015 Notes) [Member] | Amendment Note Purchase Agreement [Member]                            
Number of secured notes issued | Number       6                    
Face amount       $ 710,000                    
Secured Convertible Promissory Notes (September 2015 Notes) [Member] | Amendment Note Purchase Agreement [Member] | John Pappajohn [Member]                            
Purchase of convertible note       100,000 $ 100,000                  
Secured Convertible Promissory Notes (September 2015 Notes) [Member] | Amendment Note Purchase Agreement [Member] | RSJ Private Equity [Member]                            
Purchase of convertible note       350,000                    
Secured Convertible Promissory Notes (September 2015 Notes) [Member] | Amendment Note Purchase Agreement [Member] | Robert Follman (Follman Family Trust [Member]                            
Purchase of convertible note       150,000 $ 150,000                  
Secured Convertible Promissory Notes (September 2015 Notes) [Member] | Amendment Note Purchase Agreement [Member] | Robin L. Smith [Member]                            
Purchase of convertible note       $ 60,000   $ 60,000                

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:1/5/16
For Period end:9/30/158-K,  CORRESP,  NT 10-K,  PRER14A
9/24/153,  4,  8-K
9/15/15
9/14/154,  8-K
7/3/15
6/3/15
6/2/158-K
4/14/15
3/18/15
3/17/158-K
1/8/15
9/26/148-K
9/22/148-K
 List all Filings 
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Filing Submission 0001615774-16-003804   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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