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Debt Obligations (Tables) | 6 Months Ended
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Jun. 30, 2020
Summary of Secured Convertible Debentures and Proceeds Investment Agreement | Debt obligations is comprised of the following:
|  | June 30, 2020 |  |  | December 31, 2019 |
Payroll protection program loan (PPP) |  | $ | 1,418,900 |  |  | $ | — |
Economic injury disaster loan (EIDL) |  |  | 150,000 |  |  |  | — |
2019 Secured convertible notes, at fair value |  |  | — |  |  |  | 1,593,809 |
Unsecured promissory notes payable, less unamortized discount of $-0- and $66,061 at June 30, 2020 and December 31, 2019, respectively |  |  | — |  |  |  | 233,939 |
Debt obligations |  |  | 1,568,900 |  |  |  | 1,827,748 |
Less: current maturities of debt obligations |  |  | 552,258 |  |  |  | 1,827,748 |
Debt obligations, long-term |  | $ | 1,016,642 |  |  | $ | — |
Schedule of Maturity of Debt Obligations | Debt obligations mature as follows as of June 30, 2020:
|  | June 30, 2020 |
2020 (July 1, 2020 to December 31, 2020) |  | $ | 68,241 |
2021 |  |  | 948,391 |
2022 |  |  | 401,321 |
2023 |  |  | 3,166 |
2024 |  |  | 3,286 |
2025 and thereafter |  |  | 144,495 |
Total |  | $ | 1,568,900 |
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 six months ended June 30, 2020:
|  | Amount |
Balance at December 31, 2019 |  | $ | 1,593,809 |
Principal repaid during the period by issuance of common stock |  |  | (1,259,074 | )
Principal repaid during the period by payment of cash |  |  | (747,180 | )
Change in fair value of secured convertible note during the period |  |  | 412,445 |
Balance at June 30, 2020 |  | $ | — |
Schedule of Certain Estimates and Assumptions of Fair Value of Secured Convertible Notes | Following is a range of certain estimates and assumptions utilized as of December 31, 2019 to determine the fair value of secured convertible notes:
|  | December 31, 2019 |
|  | Assumptions |
Volatility – range |  |  | 115 | %
Risk-free rate |  |  | 1.60 | %
Contractual term |  |  | 0.6 years |
Calibrated stock price |  | $ | 1.06 |
Debt yield |  |  | 123.6 | %
2020 Secured Convertible Notes [Member] |
Schedule of Fair Value of Embedded Derivatives and Warrants | The following represents the resulting fair value as determined on April 17, 2020, the date of origination:
Secured convertible notes |  | $ | 778,859 |
Common stock purchase warrants |  |  | 721,141 |
Gross cash proceeds |  | $ | 1,500,000 |
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 six months ended June 30, 2020:
|  | Amount |
Balance at December 31, 2019 |  | $ | — |
Issuance of 2020 convertible notes at fair value |  |  | 778,859 |
Principal repaid during the period by issuance of common stock |  |  | (1,665,666 | )
Principal repaid during the period by payment of cash |  |  | (1,000 | )
Change in fair value of secured convertible note during the period |  |  | 887,807 |
Balance at June 30, 2020 |  | $ | — |
Schedule of Certain Estimates and Assumptions of Fair Value of Secured Convertible Notes | Following is a range of certain estimates and assumptions utilized as of the April 17, 2020 issuance date to determine the fair value of secured convertible notes:
|  | April 17, 2020 |
|  | Assumptions |
Volatility – range |  |  | 90 | %
Risk-free rate |  |  | 0.36 | %
Contractual term |  |  | 1.0 years |
Stock price |  | $ | 0.92 |
Debt yield |  |  | 132.2 | %

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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