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Debt Obligations (Tables)
 9 Months Ended
Sep. 30, 2019
Summary of Secured Convertible Debentures and Proceeds Investment Agreement

Proceeds investment agreement is comprised of the following:

 

    September 30, 2019     December 31, 2018  
2018 Proceeds investment agreement, at fair value   $ 6,417,000     $ 9,142,000  
Less: Current portion     -       -  
2018 Proceeds investment agreement at fair value-less current portion   $ 6,417,000     $ 9,142,000  
Schedule of Fair Value of Embedded Derivatives and Warrants

The Company elected to account for the PIA on the fair value basis. Therefore, the Company determined the fair value of the PIA and PIA Warrants which yielded estimated fair values of the PIA including their embedded derivatives and the detachable PIA Warrants as follows:

 

Proceeds investment agreement   $ 9,067,513  
Common stock purchase warrants     932,487  
         
Gross cash proceeds   $ 10,000,000  
Schedule of Fair Value of Debentures Activity

The following represents activity in the PIA during the nine months ended September 30, 2019:

 

Beginning balance as of January 1, 2019   $ 9,142,000  
Repayment of obligation     (6,000,000 )
         
Change in the fair value during the period     3,275,000  
Ending balance as of September 30, 2019   $ 6,417,000  
2019 Secured Convertible Notes [Member]  
Schedule of Fair Value of Embedded Derivatives and Warrants

The following represents the resulting fair value as determined on August 5, 2019, the date of origination:

 

Secured convertible notes   $ 1,845,512  
Common stock issued as Commitment Shares     118,749  
Common stock purchase warrants     535,739  
         
Gross cash proceeds   $ 2,500,000  
Summary of Fair Value and Adjusted Carrying Value of Secured Convertible Notes

Following is an analysis of the activity in the secured convertible notes during the nine months ended September 30, 2019:

 

    Amount  
Balance at December 31, 2018   $ —  
Issuance of convertible notes on August 5, 2019, at fair value     1,845,512  
Principal repaid during the period by issuance of common stock     (648,067 )
Principal repaid during the period by payment of cash     —  
Change in fair value of secured convertible note during the period     408,860   
         
Balance at September 30, 2019   $ 1,606,305