XML 59 R71.htm IDEA: XBRL DOCUMENT v3.20.1
Income (Loss) Per Share - Schedule of Loss and Weighted Average Number of Shares (Details) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income (loss) for the year $ (3,516,146) $ (6,715,420)
Conversion of preferred shares into common (13,989,595)
Conversion of warrants (182,093)
Reclassification of warrants with down round protection as a result of early adoption of ASU 2017-11 (2,505,723)
Remeasurement of warrants issued to placement agent (5,840,896)
Additional shares issued to Series D Holders on Conversion (5,801,172)
Income (loss) for the period attributable to common stockholders $ (3,516,146) $ (39,818,168)
Common shares used in computing Basic loss per share 154,929,064 8,396,847
Common shares used in computing Diluted loss per share [1] 154,929,064 8,396,847
Total weighted average number of Common shares related to outstanding convertible Preferred Stock, options and warrants excluded from the calculations of diluted loss per share [2] 79,562,675 27,272,569
Series A Preferred Stock [Member]    
Dividend on Preferred Stock $ (18,454)
Series B Preferred Stock [Member]    
Dividend on Preferred Stock (2,649,188)
Series C Preferred Stock [Member]    
Dividend on Preferred Stock $ (2,115,629)
[1] In applying the treasury method, the average market price of Common Stock was based on management estimate. For December 31, 2019, management considered, among other things, a valuation prepared by a third-party valuation firm following the occurrence of the Forced Conversion. For December 31, 2019 management estimation considered, among other things, a valuation prepared by a third-party valuation firm following the issuance of the Series D Units.
[2] The Company excludes from the calculation of diluted income (loss) per share, shares that will be issued upon the exercise of options and warrants with exercise prices, that are greater than the estimated average market value of the Company's Common Stock because their effect would be anti-dilutive. Outstanding shares that will be issued upon conversion or exercise, as applicable, of stock options and warrants, have been excluded from the calculation of the diluted net loss per share for all the reported periods for which net loss was reported because the effect of the common shares issuable as a result of the exercise or conversion of these instruments was anti-dilutive.