XML 59 R43.htm IDEA: XBRL DOCUMENT v3.21.1
INVESTMENTS - RELATED PARTIES (Tables)
 12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of investments

Investments in AVLP and Alzamend Neuro, Inc. (“Alzamend”) at December 31, 2020 and 2019, are comprised of the following:

 

    December 31,     December 31,  
    2020     2019  
Investment in convertible promissory note of AVLP   $ 11,269,136     $ 9,595,079  
Short term advance in Alzamend     750,000       —  
Investment in convertible promissory note of Alzamend     50,000       —  
Accrued interest in convertible promissory notes of AVLP and Alzamend     2,026,812       2,025,475  
Total investment in convertible promissory note of AVLP – Gross     14,095,948       11,620,554  
Less: original issue discount     (3,870 )     —  
Less: provision for loan losses     (3,423,608 )     (5,079,834 )
Total investment in convertible promissory note of AVLP and Alzamend     10,668,470       6,540,720  
                 
Investment in derivative instruments of AVLP     4,986,552       1,330,684  
Investment in common stock of AVLP     499,588       238,602  
Investment in common stock and warrants of Alzamend     653,251       558,938  
Investment in derivative instruments and common stock of AVLP and Alzamend     6,139,391       2,128,224  
Total investment in AVLP and Alzamend – Net   $ 16,807,861     $ 8,668,944  
                 
Investment in warrants and common stock of AVLP and Alzamend   $ 6,139,391     $ 2,128,224  
Investment in convertible promissory notes and advances of AVLP and Alzamend     10,668,470       6,540,720  
Total investment in AVLP and Alzamend – Net   $ 16,807,861     $ 8,668,944  
Schedule of summarizes the changes in our investments

The following table summarizes the changes in our investments in AVLP and Alzamend during the years ended December 31, 2020 and 2019:

 

          Investment in        
    Investment in     convertible        
    warrants and     promissory notes     Total  
    common stock     and advances     investment  
    of AVLP and     of AVLP and     in AVLP and  
    Alzamend     Alzamend     Alzamend – Net  
Balance at January 1, 2019   $ 3,043,499     $ 5,611,621     $ 8,655,120  
Investment in convertible promissory notes of AVLP     —       1,600,164       1,600,164  
Investment in common stock of AVLP and Alzamend     261,132       —       261,132  
Fair value of derivative instruments issued by AVLP     1,050,918       —       1,050,918  
Unrealized loss in derivative instruments of AVLP     (1,950,875 )     —       (1,950,875 )
Unrealized loss in common stock of AVLP and Alzamend     (276,450 )     —       (276,450 )
Provision for loan losses     —       (4,000,000 )     (4,000,000 )
Accretion of discount     —       2,307,777 2,307,777       2,307,777  
Accrued Interest     —       1,021,158       1,021,158  
Balance at December 31, 2019   $ 2,128,224     $ 6,540,720     $ 8,668,944  
Investment in convertible promissory notes of AVLP     —       1,330,283       1,330,283  
Investment in convertible promissory note of Alzamend     —       38,128       38,128  
Investment in common stock of AVLP and Alzamend     45,484       —       45,484  
Investment in warrants of Alzamend     11,872       —       11,872  
Short term advance in Alzamend     —       750,000       750,000  
Fair value of derivative instruments issued by AVLP     343,774       —       343,774  
Unrealized gain in derivative instruments of AVLP     3,312,094       —       3,312,094  
Unrealized gain in common stock of AVLP and
Alzamend		     297,943       —       297,943  
Accretion of discount     —       8,002       8,002  
Provision for loan losses     —       2,000,000       2,000,000  
Accrued Interest     —       1,337       1,337  
Balance at December 31, 2020   $ 6,139,391     $ 10,668,470     $ 16,807,861