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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:

		Three Months Ended
		March 31,         2020				March 31,         2019
Net income (loss)		$	(2,897,976	)		$	(1,167,886	)
Numerator, basic and diluted net income (loss) available to stockholders		$	(2,897,976	)		$	(1,167,886	)
Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding			9,517,664				9,222,199
Common shares outstanding for basic			9,517,664				9,222,199
Additional shares used in computation – diluted:			—				—
Common shares outstanding for basic			9,517,664				9,222,199
Shares used in computing diluted net income per share			9,517,664				9,222,199
Net (loss) per share – basic		$	(0.30	)		$	(0.13	)
Net (loss) per share – diluted		$	(0.30	)		$	(0.13	)

Schedule of Financial Instruments at Fair Value on a Recurring Basis

We measure certain financial instruments at fair value on a recurring basis. The Company had liabilities that are required to be measured at fair value on a recurring basis as follows at March 31, 2020:

		Total				Level 1				Level 2				Level 3
Assets:		$	—			$	—			$	—			$	—
Liabilities:
Hybrid debt instrument at fair value		$	1,554,600			$	—			$	—			$	1,554,600

Reconciliation of the Beginning and Ending Balances for the Liability Measured at Fair Value on a Recurring Basis

The following is a reconciliation of the beginning and ending balances for the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year December 31, 2019: See NOTE I: Note 10 – 37North for further detail.

Balance at December 31, 2019		$	861,485
Additional debt issuances			490,000
Loss in hybrid-instrument fair value			203,115
Balance at March 31, 2020		$	1,554,600

In the Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares in the following tables represent potential common shares calculated using the treasury stock method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS:

		Three Months Ended
		March 31,     2020				March 31,       2019
Average market price during the period		$	3.81			$	6.14
In the money potential common shares from options excluded			22,493				12,464
In the money potential common shares from warrants excluded			120,000				51,204

Out of Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS:

		Three Months Ended
Per share exercise price		March 31,         2020				March 31,         2019
Out of the money options excluded:
$12.48			136,833				136,833
$12.84			4,167				4,167
$26.40			75,158				75,158
$39.00			—				—
Out of the money warrants excluded:
$3.99			426,065				—
$5.76			196,135				—
$7.16			700,000				700,000
$12.00			—				65,625
Total excluded			1,538,358				981,783

Unvested Restricted Stock Awards Excluded from EPS [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are:

		Three Months Ended
		March 31,         2020				March 31,         2019
Potential common shares from unvested restricted stock awards excluded from EPS			343,353				41,667

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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