"we also issued to Iliad a warrant to 16,666,667 shares of Common Stock at an exercise price of $0.03 per share until June 4, 2016."

Iliad can get 16M shares any time they want- but they have to pay 3 cents for them. I doubt that they would do it now.

As for the loan,

"The note bears interest at 8% per annum, and is payable in twelve monthly installments beginning on October 1, 2012 and continuing for each of the next eleven calendar months."

That would mean that the last payment would have been September 1, unless they missed payments. But that doesn't seem to be the case:

"As of June 30, 2013, we had the following debts that mature in the near future:...$163,246 owed to Iliad Research & Trading, LP, which requires monthly payments of $47,208.33 per month, plus the amount of accrued interest on the note. As of July 1, 2013, we were not in default to Iliad;"

So the most they owe, if they did not make the July, August, or September payments, would be $163k plus interest. But based on the shares being dumped, I think they made those payments. So Iliad should be out of the picture until they convert the warrants, which won't happen until we are well above 3 cents.