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Warrants (Tables)

12 Months Ended

Dec. 31, 2020

Warrants [Abstract]

Schedule of fair value of the outstanding warrants

		December 31,
		2020				2019				2018
Market price per share (USD/share)		$	4.15			$	3.12				9.04
Exercise price (USD/share)			17.60				17.60				17.60
Risk free rate			0.41	%			1.81	%			2.60	%
Dividend yield			0	%			0	%			0	%
Expected term/Contractual life (years)			5.3				6.3				7.3
Expected volatility			341.88	%			279.93	%			256.20	%

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

		December 31,
		2020				2019				2018-
Beginning balance		$	389,630			$	1,129,246			$	1,729,111
Warrants issued to Hangzhou Lianluo			-				-				-
Warrants redeemed			-				-				-
Fair value change of the issued warrants included in earnings			129,036				(739,616	)			(599,865	)
Ending balance		$	518,666			$	389,630				1,129,246

Schedule of warrants activity

		Number				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Years)
Outstanding as of January 1, 2019			125,000			$	17.60
Granted			-
Forfeited			-
Exercised			-
Redeemed			-
Outstanding as of December 31, 2019			125,000			$	17.60
Granted			-
Forfeited			-
Exercised			-
Redeemed			-
Outstanding as of December 31, 2020			125,000			$	17.60

Schedule of class A common shares and concurrent private placements of warrants

Amount of Underlying Class A Common Shares			118,750
Exercise price		$	5.60
Floor Price		$	1.44
Expiration Date			September 2, 2025
Issuance Date			March 2, 2020

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Tabular disclosure of fair value of warrants.

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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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