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Warrants (Tables)

6 Months Ended

Jun. 30, 2020

Warrants and Rights Note Disclosure [Abstract]

Schedule of fair value of the outstanding warrants

		June 30, 2020				December 31, 2019
Market price per share (USD/share)		$	0.69			$	0.39
Exercise price (USD/share)			2.20				2.20
Risk free rate			0.35	%			1.81	%
Dividend yield			0	%			0	%
Expected term/Contractual life (years)			5.8				6.3
Expected volatility			334.28	%			279.93	%

Schedule of reconciliation of the beginning and ending balances of warrants liability

		Six months ended June 30,
		2020				2019
Beginning balance		$	389,630			$	1,129,246
Fair value change of the issued warrants included in earnings			300,304				99,821
Ending balance		$	689,934			$	1,229,067

Schedule of of the warrants activity

		Number				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Years)
Outstanding as of January 1, 2020			1,000,000			$	2.20
Granted			-
Forfeited			-
Exercised			-
Redeemed			-
Outstanding as of June 30, 2020			1,000,000			$	2.20

Schedule of exercise price, floor price, issuance date and expiration date for warrants

Amount of Underlying Class A Common Shares			2,590,000				3,500,000				4,900,000
Exercise price		$	0.6239			$	0.70			$	0.70
Floor Price			N/A			$	0.1701			$	0.18
Expiration Date			August 14, 2025				August 25, 2025				September 2, 2025
Issuance Date			February 14, 2020				February 25, 2020				March 2, 2020

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- Definition

Tabular disclosure of exercise price, floor price, issuance date and expiration date for warrants.

+ References

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Tabular disclosure of fair value of warrants.

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Tabular disclosure of warrant activities for the period.

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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