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Convertible Notes (Related and Unrelated Party) (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Schedule of Fair Value Assumptions Used | The fair value of the warrants, $0.17 per share ($220,548 in the aggregate), was calculated using the Black-Scholes option pricing model using the following assumptions:
Expected life (in years) |  |  | 3 |
Volatility (based on a comparable company) |  |  | 54.82 | %
Risk Free interest rate |  |  | 2.41 | %
Dividend yield (on common stock) |  |  | - |
The fair value of the warrants, $0.25 per share ($235,519 in the aggregate), was calculated using the Black-Scholes option pricing model using the following assumptions:
Expected life (in years) |  |  | 3 |
Volatility (based on a comparable company) |  |  | 55.49 | %
Risk Free interest rate |  |  | 2.45 | %
Dividend yield (on common stock) |  |  | - |
The fair value of the warrants, ($92,266 in the aggregate which consists of the L and P Warrants), were calculated using the Black-Scholes option pricing model using the following assumptions:
Expected life (in years) |  |  | 1 to 3 |
Volatility |  |  | 76.74- 98.00 | %
Risk Free interest rate |  |  | .15 - .41 | %
Dividend yield (on common stock) |  |  | - |
The fair value of the warrants, $0.31 per share ($212,763 in the aggregate), was calculated using the Black-Scholes option pricing model using the following assumptions:
Expected life (in years) |  |  | 3 |
Volatility (based on a comparable company) |  |  | 59.00 | %
Risk Free interest rate |  |  | 2.83 | %
Dividend yield (on common stock) |  |  | - |
The fair value of the modified L warrants, ($4,279 prior to modification, and $6,096 post modification), was calculated using the Black-Scholes option pricing model using the following assumptions:
Expected life (in years) |  |  | 1.71 |
Volatility |  |  | 88.02 | %
Risk Free interest rate |  |  | 0.37 | %
Dividend yield (on common stock) |  |  | - |
Schedule of Convertible Notes | The convertible notes consist of the following components as of December 31, 2020 and December 31, 2019:
|  | 2020 |  |  | 2019 |
Convertible notes |  | $ | 1,181,167 |  |  | $ | 2,704,800 |
Less: Debt discount (warrant value) |  |  | (92,266 | ) |  |  | (325,747 | )
Less: Debt discount (derivative value) (Note 8) |  |  | - |  |  |  | (638,988 | )
Less: Debt discount (issuance costs paid) |  |  | (6,004 | ) |  |  | (27,000 | )
Less: Note repayments/conversion |  |  | (110,166 | ) |  |  | (803,634 | )
Add: Debt discount amortization |  |  | 38,173 |  |  |  | 898,940 |
|  | $ | 1,010,904 |  |  | $ | 1,808,371 |
The convertible notes consist of the following components as of December 31, 2020 and December 31, 2019:
|  | 2020 |  |  | 2019 |
Convertible notes |  | $ | 235,200 |  |  | $ | 1,363,200 |
Less: Debt discount (warrant value) |  |  | (1,817 | ) |  |  | (212,763 | )
Less: Debt discount (derivative value) (Note 8) |  |  | (13,528 | ) |  |  | (697,186 | )
Less: Debt discount (issuance costs paid) |  |  | (6,004 | ) |  |  | (23,700 | )
Less: Note repayments |  |  | (67,200 | ) |  |  | - |
Add: Debt discount amortization |  |  | 9,487 |  |  |  | 502,639 |
|  | $ | 156,138 |  |  | $ | 938,190 |
Schedule of Future Maturities of Convertible Notes | Future maturity of convertible notes at face value before effect of all discount, are as follow:
Years Ending December 31, |  | Total Convertible Notes |
2021 |  | $ | 168,000 |
2022 |  |  | 1,071,000 |
|  | $ | 1,139,000 |

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