XML 57 R9.htm IDEA: XBRL DOCUMENT
v3.20.1

2. LIQUIDITY | 12 Months Ended
--- | ---
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
LIQUIDITY |
2. | LIQUIDITY
The Company has a history of net losses, including the accompanying financial statements for the years ended December 31, 2019 and 2018 where the Company had net losses of $3,933,922 (which includes $404,846 of non-cash stock-based compensation expense) and $3,598,780 (which includes $349,072 of non-cash stock-based compensation expense), and net cash used in operating activities of $4,826,340 and $712,456, respectively. However, in April and May of 2019, the Company closed a public offering that generated gross proceeds of $13,201,000, which was used to pay off the Company’s debt and is estimated to provide working capital to fund business operations. In addition, the company issued warrants to stockholders as part of the public offering, which could potentially generate $15,216,006 of proceeds over the next 4.5 years, depending on the market value of our stock and the warrant holders’ ability to exercise them. The Company expects to continue to incur losses for a period of time into the future. In addition, there is no guarantee that the warrants will be exercised or that additional capital or debt financing will be available when and to the extent required, or that if available, it will be on terms acceptable to the Company. The Company continues to invest in sales and marketing resources and seek out sales contracts that should provide additional revenues and, in time, generate operating profits.

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=51888271 + Details
Name: | us-gaap_SubstantialDoubtAboutGoingConcernTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration