XML 82 R70.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events (Details) - USD ($)
1 Months Ended 9 Months Ended
Nov. 11, 2020
Oct. 30, 2020
Sep. 30, 2020
Oct. 23, 2020
Apr. 14, 2020
Subsequent Events (Textual)          
Principal amount         $ 124,400
Boustead Securities, LLC [Member]          
Subsequent Events (Textual)          
Description of fess     Pursuant to the terms of an agreement entered into between the Company and a FINRA member firm, such firm shall receive (i) a cash success fee of $78,750 and (ii) upon conversion of the October Note, warrants equal to 7.0% of the number of shares of Common Stock received by the investor at the time of conversion ("Note Warrants")The Comp Warrants are exercisable on a cashless basis, at the holder's discretion     
Subsequent Event [Member]          
Subsequent Events (Textual)          
Salaries converted   $ 1,090,361      
Shares of common stock   545,182      
Conversion price   $ 2      
Subsequent Event [Member] | Investor [Member]          
Subsequent Events (Textual)          
Principal amount       $ 2,500,000  
Conversion price       $ 2.25  
Subsequent Event [Member] | FINRA [Member]          
Subsequent Events (Textual)          
Description of fess (i) a cash  success fee of $175,000 and (ii) warrants to purchase a number of shares of Common Stock equal to 7% of the number of shares of Common Stock sold in the Offering, at an exercise price per share equal to $6.00 subject to adjustment (the "Comp Warrants"). The Comp Warrants are exercisable on a cashless basis, at the holder's discretion.        
Subsequent Event [Member] | Securities Purchase Agreements [Member]          
Subsequent Events (Textual)          
Description of securities purchase agreements The Company conducted a closing with regard to certain securities purchase agreements (the “SPAs”) dated October 23, 2020, separately with two non-U.S. investors (the “Investors”). Each of the Investors agreed to purchase and the Company agreed to sell to each of the Investors 1,111,112 shares of the Company’s common stock, par value $0.001 (“Common Stock”), and warrants (the “Warrants”) to purchase 1,111,112 shares of Common Stock, for a purchase price of $2,500,000 (the “Offering”). The Warrants are exercisable upon issuance and will expire three years from the date of issuance. The initial exercise price of the Warrants is $6.00, subject to stock, splits, stock dividend and other similar events. In addition, when the closing price of the Common Stock equals or exceeds $9.00 per share for twenty Trading Days (as defined in the Exchange Agreements) during any thirty-day period, the Company shall have the right to require the Investors to exercise all or any portion of the Warrants for a cash exercise. The aggregate net proceeds of the Offering were $5,000,000.