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Subscription Agreements
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3 Months Ended | |||
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Mar. 31, 2015
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| Long-Term Debt/ Subscription Agreements [Abstract] | ||||
| SUBSCRIPTION AGREEMENTS |
AMP Holding Inc. (the “Company”), entered into Subscription Agreements with five accredited investors (the “December 2014 Investors”) between November 24, 2014 and December 29, 2014 providing for the sale by the Company to the December 2014 Investors of 14% Unsecured Convertible Promissory Notes in the aggregate amount of $1,242,900 (the "December 2014 Notes"). In addition to the December 2014 Notes, the December 2014 Investors also received common stock purchase warrants (the “December 2014 Warrants”) to acquire 4,439,287 shares of common stock of the Company. The December 2014 Warrants are exercisable for five years at an exercise price of $0.14. The initial closing of $200,000 was on November 24, 2014, the second closing of $700,000 was on December 8, 2014 and the third closing of $343,000 was on December 30, 2014.
In March 2015 the note and accrued interests were converted to equity. |