Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Warrants Liabilities Measured at Fair Value Using Significant Unobservable Inputs

The table below provides a reconciliation of the beginning and ending balances for the warrant derivative which is measured at fair value using significant unobservable inputs (Level 3):

 

Balance, January 1, 2019   $ 23,507,247  
Series B Warrants exercised or expired during the three months ended March 31, 2019     (14,584,371 )
Series B Warrants exchanged for Series C Preferred Stock     (3,671,024 )
Change in the fair value of warrant derivative     (5,251,852 )
Balance, December 31, 2019   $ -  

 

Balance, January 1, 2018   $ -  
Fair value of warrant derivative at Issuance date     9,170,822  
Change in the fair value of warrant derivative     14,336,425  
Balance, December 31, 2018   $ 23,507,247  

Schedule of Potential Dilutive Securities

Potentially dilutive securities that are not included in the calculation of diluted net loss per share because their effect is anti-dilutive are as follows (in common equivalent shares):

 

    Year Ended  
    December 31, 2019     December 31, 2018  
Preferred shares     7,043,000       517,875  
Warrants     11,449,884       364,859  
Options     1,063,419       125,000  
Series A and Series B Notes     5,602,750          
Total anti-dilutive weighted average shares     25,159,053       1,007,734