Annual report pursuant to Section 13 and 15(d)

Preferred Stock (Tables)

v3.19.1
Preferred Stock (Tables)
12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Schedule of Series A Preferred Stock Units Private Placement

   

Series A

Preferred

Stock Units
Issue Dates
(Aggregate)

 
Series A Preferred Stock Units issuance gross proceeds   $ 2,537,012  
Less: Series A Warrants derivative liability initial fair value     (4,050,706 )
Less: Series A Convertible Preferred Stock conversion option derivative liability initial fair value     (1,221,963 )
Excess of initial fair value of derivative liabilities over gross proceeds     (2,735,657 )
Offering costs of the issuance of the Series A Preferred Stock Units     (388,628 )
Loss on issuance of Series A Preferred Stock Units   $ (3,124,285 )

Schedule of Convertible Preferred Stock Conversion Into Common Stock

Series A Convertible Preferred Stock Converted to Shares of Common Stock of the Company November and December 2017   Conversion
Dates Aggregated
 
Shares of Series A Convertible Preferred Stock converted to common stock of the Company     18,334  
Shares of common stock issued upon conversion of Series A Convertible Preferred Stock     22,093  
Fair Value - Series A Convertible Preferred Stock conversion option derivative liability derecognized   $ 27,335  
Common stock issued - par value   $ 22  
Common stock issued - additional paid-in capital   $ 27,313  

Schedule of Estimated Fair Values for Series A-1 Convertible Preferred Stock Warrants

Fair Value Assumptions - Issue Date   Series A-1
Convertible
Preferred Stock
    Series A-1
Warrants
 
Allocated fair value   $ 189,550     $ 310,450  
Series A-1 Convertible Preferred Stock /Series A-1 Warrants     125,000       125,000  
Value of common stock   $ 2.98       2.98  
Common stock conversion factor numerator   $ 4.00       N/A  
Common stock conversion factor denominator   $ 4.00       N/A  
Exercise price per share - Series X Warrants     N/A     $ 6.00  
Required rate of return     27.0 %     N/A  
Expected term (years)     6.74       6.74  
Volatility     52 %     52 %
Risk free rate     2.0 %     2.0 %
Dividend yield     0 %     0 %