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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2019
Accounting Policies [Abstract] |
Schedule of revenue & accounts receivable with customers | For the years ended December 31, 2019 and 2018, the Company had the following 10 percent or greater concentrations of revenue with its customers:
|  | 2019 |  |  | 2018 |
A* |  |  | 12.0 | % |  |  | 8.0 | %
B* |  |  | - |  |  |  | 15.8 | %
All other |  |  | 88.0 | % |  |  | 76.2 | %
Total |  |  | 100.0 | % |  |  | 100.0 | %
At December 31, 2019 and 2018, the Company had the following 10 percent or greater concentrations of accounts receivable with its customers:
|  | 2019 |  |  | 2018 |
A** |  |  | 19.2 | % |  |  | 7.2 | %
B** |  |  | - |  |  |  | 38.2 | %
C** |  |  | - |  |  |  | 25.2 | %
All other |  |  | 80.8 | % |  |  | 29.4 | %
Total |  |  | 100.0 | % |  |  | 100.0 | %
*Revenues from customer A are derived from a customer located in the United States. Revenues from customer B were derived from a customer located in Sweden which was acquired on October 25, 2019. Please refer to note 10, further details. All other revenues customers were mainly derived from the United States. **Receivables from customer A are obtained from a customer located in the United States. Receivables from customer B were derived from a customer located in Sweden which was acquired on October 25, 2019. Please refer to note 10, further details. Receivables from customer C pertained to a customer in China which now reflects the change in our China business model to a royalty and licensing framework.
Schedule of anti-dilutive shares | The effects of dilutive instruments have been presented for the year-to-date net income as of December 31, 2019. Other periods presented do not reflect the dilutive shares, as the effects would be anti-dilutive due to the fact that losses are being reflected for those periods. Please refer to the below table for additional details:
|  | For the years ended December 31, |
|  | 2019 |  |  | 2018 |
Net income (loss) available to common stockholders |  | $ | 9,971,260 |  |  | $ | (11,419,781 | )
Adjustments for diluted earnings: |  |  |  |  |  |  |  |
Preferred Stock Dividend |  |  | - |  |  |  | 213,133 |
Interest expense on convertible notes |  |  | 348,493 |  |  |  | - |
Amortization of discount on notes payable |  |  | 239,570 |  |  |  | - |
Diluted net income (loss) available to common stockholders |  | $ | 10,559,323 |  |  | $ | (11,206,648 | )
Income (Loss) per share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.16 |  |  | $ | (0.23 | )
Diluted |  | $ | 0.16 |  |  | $ | (0.23 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 60,761,995 |  |  |  | 50,050,696 |
Diluted |  |  | 64,183,399 |  |  |  | 50,050,696 |

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