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ORGANIZATION AND NATURE OF BUSINESS (Tables) | 12 Months Ended
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Dec. 31, 2019
ORGANIZATION AND NATURE OF BUSINESS (Tables) |
Schedule of foreign exchange rates |
|  | December 31, 2019 |  |  | December 31, 2018 |
Exchange rate on balance sheet dates |  |  |  |  |  |
EUR: USD exchange rate |  |  | 1.1227 |  |  |  | 1.1456 |
GBP: USD exchange rate |  |  | 1.3185 |  |  |  | 1.2734 |
Average exchange rate for the period |  |  |  |  |  |  |  |
EUR: USD exchange rate |  |  | 1.1194 |  |  |  | 1.1817 |
GBP: USD exchange rate |  |  | 1.2767 |  |  |  | 1.3348 |
Property and equipment |
|  | Estimated Useful Life |
Leasehold improvements and technical works |  |  | Lesser of lease term or 40 years |
Vehicles |  |  | 6 years |
Machinery |  |  | 20 years |
Furniture, fixtures and equipment |  |  | 5–10 years |
Computers and software |  |  | 3-5 years |
Measured and recognized at fair value |
|  | December 31, 2019 |  |  | Total Carrying |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Value |
Marketable securities – ICC International Cannabis Corp. |  | $ | 33,000 |  |  |  | - |  |  |  | - |  |  | $ | 33,000 |
Marketable securities – Divsersa S.A. |  |  | 200,290 |  |  |  | - |  |  |  | - |  |  |  | 200,290 |
Marketable securities – National Bank of Greece |  |  | 5,650 |  |  |  | - |  |  |  | - |  |  |  | 5,650 |
|  | $ | 238,940 |  |  |  |  |  |  |  |  |  |  | $ | 238,940 |
|  | December 31, 2018 |  |  | Total Carrying |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Value |
Marketable securities – ICC International Cannabis Corp. |  | $ | 2,500,000 |  |  |  | - |  |  |  | - |  |  | $ | 2,500,000 |
Marketable securities – Divsersa S.A. |  |  | 210,790 |  |  |  | - |  |  |  | - |  |  |  | 210,790 |
Marketable securities – National Bank of Greece |  |  | 2,100 |  |  |  | - |  |  |  | - |  |  |  | 2,100 |
|  | $ | 2,712,890 |  |  |  |  |  |  |  |  |  |  | $ | 2,712,890 |
Schedule of contribution towards revenue and account receivable |
|  | Year Ended December 31, |  |  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Number of 10% clients |  |  | 0 |  |  |  | 2 |
Percentage of total revenue |  |  | n/a |  |  |  | 26.49 | %
Percentage of total AR |  |  | n/a |  |  |  | 4.94 | %
Basic and Diluted Net Loss per Common Share |
|  | Years Months Ended December 31, |
|  | 2019 |  |  | 2018 |
Weighted average number of common shares outstanding Basic |  |  | 13,273,596 |  |  |  | 13,306,612 |
Potentially dilutive common stock equivalents |  |  | 42,808 |  |  |  | 257,155 |
Weighted average number of common and equivalent shares outstanding – Diluted |  |  | 13,273,596 |  |  |  | 13,306,612 |

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