Alpha Capital Anstalt Convertible Note (Details Textual) |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
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Sep. 08, 2020
USD ($)
shares
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2019
USD ($)
|
Jun. 12, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
| Derivative liability | $ 256,670 | $ 256,670 | ||||
| Amortization of debt discount, | $ 1,658,866 | |||||
| Alpha Capital Anstalt Convertible Note [Member] | ||||||
| Convertible promissory notes, description | The Company collected $1,000,000 in cash from the Holder with the remainder retained by the Holder for the Original Issue Discount of $111,111. The Company recorded a debt discount related to the Alpha Capital Anstalt Commitment Shares pursuant to the transaction of $324,726 and a beneficial conversion feature of $613,615. The beneficial conversion feature of $613,615 was recorded as a debt discount with an offsetting entry to additional paid-in capital decreasing the Alpha Capital Anstalt Convertible Note and increasing debt discount. The debt discount is being amortized to interest expense over the term of the debt. The Company promised to pay the principal amount, together with guaranteed interest at the annual rate of 10% (unless the Company defaults, which increases the interest rate to 15%), with principal and accrued interest on the Alpha Capital Anstalt Convertible Note due and payable on April 7, 2021 (the "Maturity Date"), unless converted under terms and provisions as set forth within the Alpha Capital Anstalt Convertible Note. The Alpha Capital Anstalt Convertible Note provides the Holder with the right to convert, at any time, all or any part of the outstanding principal and accrued but unpaid interest into shares of the Company's common stock at a conversion price of $5.28 per share. The Alpha Capital Anstalt Convertible Note provides that the aggregate number shares of common stock issued to the Holder under the Alpha Capital Anstalt Convertible Note shall not exceed 4.99% of the total number of shares of common stock outstanding as of the closing date unless the Company has obtained stockholder approval of the issuance (the "the Beneficial Ownership Limitation"). The Holder, upon not less than sixty-one (61) days' prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation; provided, that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the common stock outstanding immediately after giving effect to the issuance of shares of common stock upon conversion of the Alpha Capital Anstalt Convertible Note held by the Holder. | |||||
| Prepayment, percentage | 0.50 | |||||
| Principal amount, percentage | 10.00% | |||||
| Change in fair value of derivative liability | 4,761 | $ 4,761 | ||||
| Derivative liability | 56,898 | 56,898 | ||||
| Principal amount | 1,111,111 | |||||
| Amortization of debt discount, | 122,548 | $ 122,548 | ||||
| Interest rate, description | Interest rate equal to the lesser of two percent (2.0%) per month (twenty-four percent (24.0%) per annum) or the maximum rate permitted under applicable law. In addition, in any Event of Default, the Company must pay a mandatory default amount equal to one hundred thirty percent (130%) of the sum of the outstanding principal amount of the Alpha Capital Anstalt Convertible Note at such time and all accrued interest unpaid at such time (including any Minimum Interest Amount remaining outstanding on such principal amount as of such time) and (b) all other amounts, costs, fees (including Late Fees), expenses, indemnification and liquidated and other damages and other amounts due to the Holder or any other party in respect of the Alpha Capital Anstalt Convertible Note. | |||||
| Unamortized discount | $ 995,261 | $ 995,261 | ||||
| Secured Convertible Promissory Note [Member] | ||||||
| Shares of common stock | shares | 100,000 | |||||
| Convertible promissory note | $ 1,111,111 | $ 1,657,522 | ||||
| Convertible promissory note percentage | 10.00% | 10.00% | ||||