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Warrants | 12 Months Ended
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Dec. 31, 2020
Warrant Disclosure [Abstract] |
Warrants | (13) Warrants Pursuant to the 2020 Purchase Agreement, the Company agreed to sell to such investors an aggregate of 4,400,000 shares of common stock and warrants to purchase up to 4,400,000 shares of the Common Stock in a concurrent private placement. The exercise price of the warrant is $0.7425 per share. These warrants are exercisable on November 4, 2020 and have a term of exercise equal to five years and six months from the date of issuance till November 4, 2025. The Company classified warrant as liabilities and accounted for the issuance of the Warrants as a derivative. A summary of stock warrant activities is as below:
|  | Year Ended |
|  | December 31, 2020 |
|  |  |  |  | Weight |
|  |  |  |  | average |
|  |  |  |  | exercise |
|  | Number |  |  | price |
Outstanding and exercisable at beginning of the period |  |  |  |  |  |
Issued during the period |  |  | 4,400,000 |  |  | $ | 0.7425 |
Exercised during the period |  |  | - |  |  |  | - |
Cancelled or expired during the period |  |  | - |  |  |  | - |
Outstanding and exercisable at end of the period |  |  | 4,400,000 |  |  | $ | 0.7425 |
The following table summarizes information relating to outstanding and exercisable warrants as of December 31, 2020.
Warrants Outstanding |  |  | Warrants Exercisable |
|  |  | Weighted |  |  |  |  |  |  |  |  |  |
|  |  | Average |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  | Remaining |  |  | Average |  |  |  |  |  | Average |
Number of |  |  | Contractual life |  |  | Exercise |  |  | Number of |  |  | Exercise |
Shares |  |  | (in years) |  |  | Price |  |  | Shares |  |  | Price |
| 4,400,000 |  |  |  | 4.84 |  |  | $ | 0.7425 |  |  |  | 4,400,000 |  |  | $ | 0.7425 |
Aggregate intrinsic value is the sum of the amounts by which the quoted market price of the Company’s stock exceeded the exercise price of the warrants at December 31, 2020 for those warrants for which the quoted market price was in excess of the exercise price (“in-the-money” warrants). There is no intrinsic value of the warrants as of December 31, 2020.

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- Definition The entire disclosure for warrants. + References No definition available. + Details
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