Quarterly report pursuant to Section 13 or 15(d)

Royalties

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Royalties
6 Months Ended
Jun. 30, 2017
Royalties [Abstract]  
Royalties
6. Royalties

 

The Company is subject to a royalty agreement based upon sales of certain hair care products. For the three months ended June 30, 2017, the Company recognized $12,112 in royalty expense related to this agreement. As of June 30, 2017, the $12,112 was included in accounts payable and accrued expenses in regards to this agreement. In addition, the Company shall pay a performance fee in relation to this agreement. In April 2017, the Company issued 217,390 shares of common stock and 108,696 warrants, pursuant to a subscription agreement, for the stated consideration and satisfaction of obligation to pay $50,000 of the performance fee (see Note 7).