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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Summary of Notes Payable

The table below reflects all notes payable at December 31, 2019 and 2018, respectively.

				December 31, 2019				December 31, 2018
				Fair Value				Fair Value
2016 Unrelated Notes		(a)		$	942,256		(a)	$	1,000,261
2017 Unrelated Notes		(a)			2,011,859		(a)		2,275,686
2018 Unrelated Notes		(a)			1,028,792		(b)		900,000
Total				$	3,982,907			$	4,175,947

				December 31, 2019				December 31, 2018
				Fair Value				Fair Value
The $250,000 Shealy Note				$	-		(c)	$	46,807
2016 Related Notes		(a)			405,784		(a)		433,117
2017 Related Notes		(a)			445,810		(a)		504,271
2018 Related Notes		(a)			457,241		(b)		400,000
Total				$	1,308,835			$	1,384,195

	(a)	The fair value was based upon Level 2 inputs. See Note 8 for additional information about the Company’s 2016, 2017, and 2018 Unrelated Notes. See Note 9 for additional information about the Company’s 2016, 2017, and 2018 Related Notes.
	(b)	The fair value was based upon Level 2 inputs. The 2018 Unrelated and Related Notes were closed in September, 2018 between market participants, therefore, fair value approximated carrying value as of December 31, 2018 given the transaction proximity to December 31, 2018. See Note 8 for additional information about the Company’s 2018 Unrelated Notes. See Note 9 for additional information about the Company’s 2018 Related Notes.
	(c)	The fair value was based upon Level 2 inputs. Short term maturity and interest rate approximates rate that the Company realized with issuance of new debt in September, 2018; therefore, carrying value approximated fair value. See Note 9 for additional information about the Company’s $250,000 Shealy Note.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

No definition available.

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