Notes Payable	3 Months Ended
Notes Payable	Mar. 31, 2017
Debt Disclosure [Abstract]
Notes Payable	Note 5 Notes Payable Convertible Notes Payable In November and December 2015, prior to the merger, our wholly owned subsidiary, Modern Round, Inc., issued 8% convertible promissory notes in a private placement in the aggregate principal amount of $1,275,000, of which $775,000 was issued to independent third parties and $500,000 was issued to certain related parties. In January 2016, we approved a private placement of up to $5,000,000 of 8% convertible promissory notes. On August 10, 2016, we closed our convertible debt offering, pursuant to which investors subscribed to $1,875,000 in aggregate principal amount of convertible promissory notes. All of our convertible notes payable mature between November 2017 and August 2018. Eight percent interest is accrued and compounds annually, and is due in one payment with the principal at the notes’ maturity. The holders have the right to convert their principal and accrued interest balance into common stock of our company at a post-merger adjusted price equal to $0.41 per share. At March 31, 2017, the notes and accrued interest were convertible into approximately 8,353,228 shares of our common stock. We incurred $62,137 and $32,254 in interest expense on this debt for the three months ended March 31, 2017 and 2016, respectively. Notes Payable – Other We converted two vendor accounts payable balances into notes payable in December 2016 and another in January 2017. The three notes were payable on March 31, 2017, or sooner if specific conditions were met. The notes do not bear a stated interest rate and imputed interest was deemed immaterial due to low market interest rates and the short interest bearing period on the notes. In April 2017, two of the noteholders agreed to extended repayment terms, and we were in negotiations with the third noteholder. See Note 9, Subsequent Events, for details on the payment extensions. Notes payable – other of $368,785 and $235,920 were outstanding at March 31, 2017 and December 31, 2016, respectively.

Modern Round Entertainment Corp 10-Q