XML 77 R51.htm IDEA: XBRL DOCUMENT
v3.20.2

Revision of Prior Year Financial Statements (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2020 | Dec. 31, 2019
Accounting Changes and Error Corrections [Abstract] |  |
Schedule of Consolidated Financial Statements Previously | The following tables summarize the effects of the revisions on the specific items presented in the Company’s historical consolidated financial statements previously included in the Company’s Annual Report for the year ended December 31, 2019:
|  | December 31, 2019 |
|  | As Previously |  |  |  |  |  |  |
|  | Reported |  |  | Adjustment |  |  | As Revised |
Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |
Other Assets |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right of use asset, net |  | $ | - |  |  | $ | 286,163 |  |  | $ | 286,163 |
Total Other Assets |  |  | 17,405,998 |  |  |  | 286,163 |  |  |  | 17,692,161 |
Total Assets |  | $ | 25,005,152 |  |  | $ | 286,163 |  |  | $ | 25,291,315 |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion – operating lease liability |  | $ | - |  |  | $ | 120,052 |  |  | $ | 120,052 |
Total Current Liabilities |  |  | 14,383,605 |  |  |  | 120,052 |  |  |  | 14,503,657 |
Long-term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liability, net |  |  | - |  |  |  | 169,897 |  |  |  | 169,897 |
|  |  | - |  |  |  | 169,897 |  |  |  | 169,897 |
Total Liabilities |  | $ | 14,383,605 |  |  | $ | 289,949 |  |  | $ | 14,673,554 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accumulated Deficit |  | $ | (40,508,231 | ) |  | $ | (3,788 | ) |  | $ | (40,512,019 | )
Total Stockholders’ Equity |  |  | 10,621,547 |  |  |  | (3,788 | ) |  |  | 10,617,764 |
Total Liabilities and Stockholders’ Equity |  | $ | 25,005,152 |  |  |  | 286,163 |  |  |  | 25,291,315 |
|  | For the year ended December 31, 2019 |
|  | As Previously |  |  |  |  |  |  |
|  | Reported |  |  | Adjustments |  |  | As Revised |
Statement of Operations |  |  |  |  |  |  |  |  |  |  |  |
Total Long-term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | (691,138 | ) |  | $ | (3,788 | ) |  | $ | (694,926 | )
Total other income (expenses) |  |  | 1,109,576 |  |  |  | (3,788 | ) |  |  | 1,105,788 |
Loss before income taxes |  |  | (5,215,318 | ) |  |  | (3,788 | ) |  |  | (5,219,106 | )
Net loss |  |  | (5,603,975 | ) |  |  | (3,788 | ) |  |  | (5,607,763 | )
Net loss attributable to common stockholders |  |  | (6,029,978 | ) |  |  | (3,788 | ) |  |  | (6,033,766 | )
Total comprehensive loss |  |  | (6,056,963 | ) |  |  | (3,788 | ) |  |  | (6,060,751 | )
Comprehensive loss attributable to Company |  | $ | (6,056,963 | ) |  | $ | (3,788 | ) |  | $ | (6,060,751 | )
Basic and diluted loss per share |  | $ | (2.83 | ) |  | $ | - |  |  | $ | (2.83 | )
Statements of Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (6,029,978 | ) |  | $ | (3,788 | ) |  | $ | (6,033,766 | )
Amortization of right of use asset |  |  | - |  |  |  | 3,788 |  |  |  | 3,788 |
Net Cash Used in Operating Activities |  | $ | (2,453,123 | ) |  | $ | - |  |  | $ | (2,453,123 | )
|  | For the year ended December 31, 2019 |
|  | As Previously |  |  |  |  |  |  |
|  | Reported |  |  | Adjustments |  |  | As Revised |
Statement of Stockholders’ Deficit |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (6,029,978 | ) |  | $ | (3,788 | ) |  | $ | (6,033,766 | )
Accumulated deficit ending balance |  | $ | (40,508,231 | ) |  | $ | (3,788 | ) |  | $ | (40,512,019 | )
Total stockholders’ equity ending balance |  | $ | 10,621,547 |  |  | $ | (3,788 | ) |  | $ | 10,617,764 |
| The following tables summarize the effects of the revisions on the specific items presented in the Company’s historical consolidated financial statements previously included in the Company’s Annual Report for the year ended December 31, 2019 and the Company’s Quarterly Reports on Form 10-Q for the periods ended June 30, 2019 and September 30, 2019:
|  | December 31, 2019 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |
Other Assets |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right of use asset, net |  | $ | - |  |  | $ | 286,163 |  |  | $ | 286,163 |
Total Other Assets |  |  | 17,405,998 |  |  |  | 286,163 |  |  |  | 17,692,161 |
Total Assets |  | $ | 25,005,152 |  |  | $ | 286,163 |  |  | $ | 25,291,313 |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion – operating lease liability |  | $ | - |  |  | $ | 120,052 |  |  | $ | 120,052 |
Total Current Liabilities |  |  | 14,383,605 |  |  |  | 120,052 |  |  |  | 14,503,657 |
Long-term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liability, net |  |  | - |  |  |  | 169,897 |  |  |  | 169,897 |
Total Long-term Liabilities |  |  | - |  |  |  | 169,897 |  |  |  | 169,897 |
Total Liabilities |  | $ | 14,383,605 |  |  | $ | 289,949 |  |  | $ | 14,673,554 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accumulated Deficit |  | $ | (40,508,231 | ) |  | $ | (3,788 | ) |  | $ | (40,512,019 | )
Total Stockholders’ Equity |  |  | 10,621,547 |  |  |  | (3,788 | ) |  |  | 10,617,764 |
Total Liabilities and Stockholders’ Equity |  | $ | 25,005,152 |  |  |  | 286,163 |  |  |  | 25,291,315 |
|  | For the year ended December 31, 2019 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Revised |
Statement of Operations |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | (691,138 | ) |  | $ | (3,788 | ) |  | $ | (694,926 | )
Total other income (expenses) |  |  | 1,109,576 |  |  |  | (3,788 | ) |  |  | 1,105,788 |
Loss before income taxes |  |  | (5,215,318 | ) |  |  | (3,788 | ) |  |  | (5,219,106 | )
Net loss |  |  | (5,603,975 | ) |  |  | (3,788 | ) |  |  | (5,607,763 | )
Net loss attributable to common stockholders |  |  | (6,029,978 | ) |  |  | (3,788 | ) |  |  | (6,033,766 | )
Total comprehensive loss |  |  | (6,056,963 | ) |  |  | (3,788 | ) |  |  | (6,060,751 | )
Comprehensive loss attributable to Company |  | $ | (6,056,963 | ) |  | $ | (3,788 | ) |  | $ | (6,060,751 | )
Basic and diluted loss per share |  | $ | (2.83 | ) |  | $ | - |  |  | $ | (2.83 | )
Statements of Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (6,029,978 | ) |  | $ | (3,788 | ) |  | $ | (6,033,766 | )
Amortization of right of use asset |  |  | - |  |  |  | 3,788 |  |  |  | 3,788 |
Net Cash Used in Operating Activities |  | $ | (2,453,123 | ) |  | $ | - |  |  | $ | (2,453,123 | )
|  | For the year ended December 31, 2019 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Revised |
Statement of Stockholders’ Deficit |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (6,029,978 | ) |  | $ | (3,788 | ) |  | $ | (6,033,766 | )
Accumulated deficit ending balance |  | $ | (40,508,231 | ) |  | $ | (3,788 | ) |  | $ | (40,512,019 | )
Total stockholders’ equity ending balance |  | $ | 10,621,547 |  |  | $ | (3,788 | ) |  | $ | 10,617,764 |
The following tables summarize the effects of the revisions on the specific items presented in the Company’s historical unaudited condensed consolidated balance sheets previously included in the Company’s Quarterly Reports on Form 10-Q for the periods ended June 30, 2019 and September 30, 2019:
|  | September 30, 2019 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |
Other Assets |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right of use asset, net |  | $ | - |  |  | $ | 315,187 |  |  | $ | 315,187 |
Total Other Assets |  |  | 18,511,902 |  |  |  | 315,187 |  |  |  | 18,827,089 |
Total Assets |  | $ | 29,477,833 |  |  | $ | 315,187 |  |  | $ | 29,793,020 |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion – operating lease liability |  | $ | - |  |  | $ | 116,665 |  |  | $ | 116,665 |
Total Current Liabilities |  |  | 14,365,829 |  |  |  | 116,665 |  |  |  | 14,482,494 |
Long-term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liability, net |  |  | - |  |  |  | 198,522 |  |  |  | 198,522 |
Total Long-term Liabilities |  |  | 4,251,103 |  |  |  | 198,522 |  |  |  | 4,449,625 |
Total Liabilities |  | $ | 18,616,932 |  |  | $ | 315,187 |  |  | $ | 18,932,119 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accumulated Deficit |  | $ | (37,806,731 | ) |  | $ | - |  |  | $ | (37,806,731 | )
Total Stockholders’ Equity |  |  | 10,860,901 |  |  |  | - |  |  |  | 10,860,901 |
Total Liabilities and Stockholders’ Equity |  | $ | 29,477,833 |  |  | $ | 315,187 |  |  | $ | 29,793,020 |
|  | June 30, 2019 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |
Other Assets |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right of use asset, net |  | $ | - |  |  | $ | 343,715 |  |  | $ | 343,715 |
Total Other Assets |  |  | 17,967,963 |  |  |  | 343,715 |  |  |  | 18,311,678 |
Total Assets |  | $ | 26,656,309 |  |  | $ | 343,715 |  |  | $ | 27,000,024 |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current portion – operating lease liability |  | $ | - |  |  | $ | 113,338 |  |  | $ | 113,338 |
Total Current Liabilities |  |  | 13,408,946 |  |  |  | 113,338 |  |  |  | 13,522,284 |
Long-term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liability, net |  |  | - |  |  |  | 230,377 |  |  |  | 230,377 |
Total Long-term Liabilities |  |  | - |  |  |  | 230,377 |  |  |  | 230,377 |
Total Liabilities |  | $ | 13,408,946 |  |  | $ | 343,715 |  |  | $ | 13,752,661 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accumulated Deficit |  | $ | (37,872,197 | ) |  | $ | - |  |  | $ | (37,872,197 | )
Total Stockholders’ Equity |  |  | 13,247,363 |  |  |  | - |  |  |  | 13,247,363 |
Total Liabilities and Stockholders’ Equity |  | $ | 26,656,309 |  |  | $ | 343,715 |  |  | $ | 27,000,024 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature and amount of prior period errors that had previously been considered immaterial and which are being corrected in the current fiscal year. This disclosure would also generally include when and how each error being corrected arose and assert that the errors were immaterial to the prior amounts reported. + References No definition available. + Details
Name: | us-gaap_ScheduleOfQuantifyingPriorYearMisstatementsCorrectedInCurrentYearFinancialStatementsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration