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Subsequent Events | 12 Months Ended
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Dec. 31, 2018
Subsequent Events [Abstract] |
Subsequent Events | NOTE 18 – SUBSEQUENT EVENTS On January 1, 2019, the Company issued 3,333 shares of Class A common stock at $1.20 per share to a consultant in lieu of payment for services. On January 31, 2019, the Company issued 1,413 shares of Class A common stock at $2.83 per share to a consultant in lieu of payment for services. On February 16, 2019, the Company failed to repay the $500,000 outstanding convertible note to Harbor Gates Capital. On March 14, 2019, the debt was converted to 133,750 shares of Class A common stock at $4.00 per share. On March 12, 2019, the Company completed the acquisition of Modern Robotics, Inc., a Science, Technology, Engineering and Math (STEM) education company with programming and robotics solutions for the K-12 education market for 200,000 shares of the Company’s Class A common stock and a $70,000 note payable. The Company will account for the acquisition using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date on the balance sheet. Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired is recorded as goodwill. The related goodwill, if any, will be deductible for tax purposes. On March 22, 2019, we entered into a securities purchase agreement with Lind Global Marco Fund, LP (the “Investor”) that contemplates a $4,000,000 working capital financing for Boxlight Parent and its subsidiaries. The investment is in the form of a $4,400,000 principal amount convertible secured Boxlight Parent note with a maturity date of 24 months. The note is convertible at the option of the Investor into our Class A voting common stock at a fixed conversion price of $4.00 per share. We will have the right to force the Investor to convert up to 50% of the outstanding amount of the note if the volume weighted average closing price of our Class A common stock trades above $8.00 for 30 consecutive days; and 100% of the outstanding amount of the note if the volume weighted average closing price of our Class A common stock trades above $12.00 for 30 consecutive days. At closing a total of $4,000,000 will be funded under the note.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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