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16. Derivative Financial Instruments (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of warrant activity

Warrants are immediately exercisable upon issuance. The following table shows warrant activity for the nine months ended September 30, 2020.

		Number of shares				Weighted Average Exercise Price
Warrants outstanding as of December 31, 2019			692,034			$	2.88
Issued in conjunction with debt			124,481			$	2.41
Issued in conjunction with agreement with former executive (see Note 13 – Shareholders’ Equity)			400,000			$	1.00
Warrants outstanding as of September 30, 2020			1,216,515			$	2.21
Warrants exercisable as of September 30, 2020			1,216,515			$	2.21

The following table shows warrant activity for the years ended December 31, 2019 and 2018.

		December 31,								December 31,
		2019								2018
		Number of shares				Weighted Average Exercise Price				Number of shares				Weighted Average Exercise Price
Warrants outstanding as of December 31, 2018			6,000			$	1.00				–				–
Warrants issued in connection with convertible debenture offering (see Note 10):
Issued to convertible debenture holders			532,134			$	3.00
Issued to 4Front as part of compensation			153,900			$	2.41
Warrants exercised											–				–
Warrants expired
Warrants outstanding as of December 31, 2019			692,034			$	2.88				6,000				1.00
Warrants exercisable as of December 31, 2019			692,034			$	2.88				6,000				1.00

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- References

No definition available.

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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