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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides a summary of financial instruments that are measured at fair value as of June 30, 2020.

 

    Carrying     Fair Value Measurement Using  
    Value     Level 1     Level 2     Level 3     Total  
                                         
Derivative warrants liabilities   $ (295,033 )   $     $     $ (295,033 )   $ (295,033 )

 

The following table provides a summary of financial instruments that are measured at fair value as of December 31, 2019.

 

    Carrying     Fair Value Measurement Using  
    Value     Level 1     Level 2     Level 3     Total  
                                         
Derivative warrants liabilities   $ (332,222 )   $     $     $ (332,222 )   $ (332,222 )
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2020 and the year ended December 31, 2019:

 

   

Fair Value Measurement

Using Level 3

 
    Inputs Total  
Balance, December 31, 2018     676,079  
Change in fair value of derivative warrants liabilities     (343,857 )
Balance, December 31, 2019   $ 332,222  
Change in fair value of derivative warrants liabilities     (37,189 )
Balance, June 30, 2020   $ 295,033  
Schedule of Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques
    December 31, 2019     June 30 ,2020  
Exercise price     1.25       1.25  
Risk free interest rate     1.59 %     0.18 %
Dividend yield     0.00 %     0.00 %
Expected volatility     133 %     213 %
Contractual term     1.15 Years       0.65 Years  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The effect of dilution on net loss becomes anti-dilutive and therefore is not reflected on the income statement.

 

    Potentially Outstanding
Dilutive Common Shares
 
    For the Six Months
Ended
June 30, 2020
    For the Year Ended
December 31, 2019
 
             
Conversion Feature Shares                
                 
Common shares issuable under the conversion feature of preferred shares     872,766       872,766  
                 
Stock Options     4,028,162       3,835,366  
                 
Warrants     3,908,258       3,826,658  
                 
Convertible Notes     1,256,000       536,000  
                 
Total potentially outstanding dilutive common shares     10,065,186       9,070,790