UNIT REDEMPTION PAYABLE	12 Months Ended
Dec. 31, 2016
Unit Redemption Payable [Abstract]
UNIT REDEMPTION PAYABLE	6. UNIT REDEMPTION PAYABLE In October 2013, the Company issued an aggregate of 250,000 Class A Units (“Unit”) to two current Board Members pursuant to a Unit Purchase and Sale Agreement dated October 15, 2013 (the “Unit Purchase Agreement”). One-half of the Class A Units are mandatorily redeemable by the Company at an aggregate purchase price of $400,000 once it has received financing or capital of any form totaling the Series A raise amount of $1,960,000. In January 2015, the Unit Purchase Agreement was amended to change the definition of a liquidity event from $1,960,00 to any merger, reverse merger, or any other sale or swap of all or substantially all of the seller’s equity with another entity or person (including, without limitation, with a public shell) or the sale of all or substantially all of the assets of the seller, which would cause the units to become mandatorily redeemable. In addition, the number of units to be repurchased and the purchase price was revised to $550,000 to redeem 125,000 Class A Units with 45% of the redemption price due within five days of a liquidity event and the remaining amount due on or before the 12-month anniversary of the liquidity event. In September 2015, the Company repurchased 125,000 Class A Units for a cash payment of $247,500. In addition, the Company issued the Unit holders 50,000 shares of Series A Convertible Preferred Stock at its stated value of $50,000. As of December 31, 2016, and 2015, the remaining Unit payable obligations totaled $302,500.

UNIT REDEMPTION PAYABLE

12 Months Ended

Dec. 31, 2016

6. UNIT REDEMPTION PAYABLE

In October 2013, the Company issued an aggregate of 250,000 Class A Units (“Unit”) to two current Board Members pursuant to a Unit Purchase and Sale Agreement dated October 15, 2013 (the “Unit Purchase Agreement”). One-half of the Class A Units are mandatorily redeemable by the Company at an aggregate purchase price of $400,000 once it has received financing or capital of any form totaling the Series A raise amount of $1,960,000.

In January 2015, the Unit Purchase Agreement was amended to change the definition of a liquidity event from $1,960,00 to any merger, reverse merger, or any other sale or swap of all or substantially all of the seller’s equity with another entity or person (including, without limitation, with a public shell) or the sale of all or substantially all of the assets of the seller, which would cause the units to become mandatorily redeemable. In addition, the number of units to be repurchased and the purchase price was revised to $550,000 to redeem 125,000 Class A Units with 45% of the redemption price due within five days of a liquidity event and the remaining amount due on or before the 12-month anniversary of the liquidity event. In September 2015, the Company repurchased 125,000 Class A Units for a cash payment of $247,500. In addition, the Company issued the Unit holders 50,000 shares of Series A Convertible Preferred Stock at its stated value of $50,000. As of December 31, 2016, and 2015, the remaining Unit payable obligations totaled $302,500.

CSA HOLDINGS INC. 10-K