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Debt (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Summary of Outstanding Debt Obligations | A summary of outstanding debt obligations as of September 30, 2020 is as follows:
Loan Description |  | Current interest rate |  |  | Maturity date |  | Balance (Euro) |  |  | Balance ($) |  |  | Current Portion |  |  | Long-term Portion |
Domestic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes payable - third party |  | 9.50% |  |  | April-21 |  |  | - |  |  | $ | 105,460 |  |  | $ | 105,460 |  |  | $ | - |
Related party notes payable |  | 9.50% |  |  | April-21 |  |  | - |  |  |  | 345,586 |  |  |  | 345,586 |  |  |  | - |
Convertible senior secured note |  | OID |  |  | April-22 |  |  | - |  |  |  | 2,201,956 |  |  |  | 1,299,117 |  |  |  | 902,839 |
PPP loan |  | 1.00% |  |  | April-22 |  |  | - |  |  |  | 1,499,360 |  |  |  | - |  |  |  | 1,499,360 |
|  |  |  |  |  |  |  |  | - |  |  | $ | 4,152,362 |  |  | $ | 1,750,163 |  |  | $ | 2,402,199 |
Foreign: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Uni Credit Bank AG |  | 1.87% |  |  | June-21 |  | € | 500,000 |  |  | $ | 586,189 |  |  | $ | 586,189 |  |  | $ | - |
Uni Credit Bank AG |  | 2.25% |  |  | March-21 |  |  | 132,519 |  |  |  | 155,362 |  |  |  | 155,362 |  |  |  | - |
Uni Credit Bank AG |  | 1.90% |  |  | April-21 |  |  | 500,000 |  |  |  | 586,189 |  |  |  | 586,189 |  |  |  | - |
|  |  |  |  |  |  |  | € | 1,132,519 |  |  | $ | 1,327,740 |  |  | $ | 1,327,740 |  |  | $ | - |
|  |  |  |  |  |  |  |  |  |  |  | $ | 5,480,102 |  |  | $ | 3,077,903 |  |  | $ | 2,402,199 |
Outstanding debt obligations as of September 30, 2020 consist of the following:
Period Ending September 30, |  | Related Parties |  |  | Third Parties |  |  | Convertible Note |  |  | PPP Loan |  |  | Foreign |  |  | Total |
Current portion: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal |  | $ | 358,077 |  |  | $ | 109,262 |  |  | $ | 1,636,364 |  |  | $ | - |  |  | $ | 1,327,740 |  |  | $ | 3,431,442 |
Less discount |  |  | (12,491 | ) |  |  | (3,802 | ) |  |  | (164,171 | ) |  |  | - |  |  |  | - |  |  |  | (180,464 | )
Less loan origination costs |  |  | - |  |  |  | - |  |  |  | (173,076 | ) |  |  | - |  |  |  | - |  |  |  | (173,076 | )
Net liability |  |  | 345,586 |  |  |  | 105,460 |  |  |  | 1,299,117 |  |  |  | - |  |  |  | 1,327,740 |  |  |  | 3,077,903 |
Long-term portion: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal |  |  | - |  |  |  | - |  |  |  | 954,545 |  |  |  | 1,499,360 |  |  |  | - |  |  |  | 2,453,905 |
Less discount |  |  | - |  |  |  | - |  |  |  | (25,171 | ) |  |  | - |  |  |  | - |  |  |  | (25,171 | )
Less loan origination costs |  |  | - |  |  |  | - |  |  |  | (26,536 | ) |  |  | - |  |  |  | - |  |  |  | (26,536 | )
Net liability |  |  | - |  |  |  | - |  |  |  | 902,839 |  |  |  | 1,499,360 |  |  |  | - |  |  |  | 2,402,199 |
Total: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal |  |  | 358,077 |  |  |  | 109,262 |  |  |  | 2,590,909 |  |  |  | 1,499,360 |  |  |  | 1,327,740 |  |  |  | 5,885,348 |
Less discount |  |  | (12,491 | ) |  |  | (3,802 | ) |  |  | (189,341 | ) |  |  | - |  |  |  | - |  |  |  | (205,634 | )
Less loan origination costs |  |  | - |  |  |  | - |  |  |  | (199,612 | ) |  |  | - |  |  |  | - |  |  |  | (199,612 | )
Net liability |  | $ | 345,586 |  |  | $ | 105,460 |  |  | $ | 2,201,956 |  |  | $ | 1,499,360 |  |  | $ | 1,327,740 |  |  | $ | 5,480,102 |
Schedule of Total Future Payments under Notes Payable and Related Party Notes Payable | Total future principal payments under notes payable and related-party notes payable as of September 30, 2020 are as follows:
Period Ending September 30, |  | Related Parties |  |  | Third Parties |  |  | Convertible Note |  |  | PPP Loan |  |  | Foreign |  |  | Total |  |  | Discount / Loan Originaion Costs |
2021 |  | $ | 358,077 |  |  | $ | 109,262 |  |  | $ | 1,636,364 |  |  | $ | - |  |  | $ | 1,327,740 |  |  | $ | 3,431,442 |  |  | $ | (353,540 | )
2022 |  |  | - |  |  |  | - |  |  |  | 954,545 |  |  |  | 1,499,360 |  |  |  | - |  |  |  | 2,453,905 |  |  |  | (51,707 | )
Total minimum payments |  |  | 358,077 |  |  |  | 109,262 |  |  |  | 2,590,909 |  |  |  | 1,499,360 |  |  |  | 1,327,740 |  |  |  | 5,885,348 |  |  |  | (405,246 | )
Current portion of notes payable |  |  | (358,077 | ) |  |  | (109,262 | ) |  |  | (1,636,364 | ) |  |  | - |  |  |  | (1,327,740 | ) |  |  | (3,431,442 | ) |  |  | 353,540 |
Notes payable, net of current portion |  | $ | - |  |  | $ | - |  |  | $ | 954,545 |  |  | $ | 1,499,360 |  |  | $ | - |  |  | $ | 2,453,905 |  |  | $ | (51,707 | )

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