v3.20.1
Related party transactions and balances (Tables)
12 Months Ended
Dec. 31, 2019
Related Party Transactions And Balances  
Schedule of related party transactions

 

           
      Year Ended December 31, 2019   Year Ended December 31, 2018
           
Related party transaction included within interest expense:          

Interest expense on promissory notes issued to relatives of the Chairman

and Chief Executive Officer of the Company

  $ 321,626 $ 299,126

Interest expense on lines of credit payable to the Chairman and

Chief Executive Officer of the Company and his spouse

  $ 1,365,967 $ 1,287,822
Interest expense related to the modification of stock options held by the Chairman and Chief Executive Officer of the Company and his spouse related to financing provided   $ 1,085,371 $ -
Stock-based compensation related to stock options granted to a director of the Company   $ 2,158,441 $ -
           
Related party transactions included within selling, general and administrative expenses:          
Consulting fees to the Chairman and Chief Executive Officer of the Company accrued on the line of credit available to the Company   $ 189,600 $ 189,600
Stock-based compensation related to stock options granted to four directors of the Company   $ 770,421 $ -
Selling, general and administrative expenses related to the modification of stock options to three directors of the Company   $ 29,204 $ -
           
Related party transactions included within selling, general and administrative expenses:          
Consulting fees to a relative of the Chairman and Chief Executive Officer of the Company   $ 120,000 $ -