Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Details Textual)

v3.20.2
Shareholders' Deficit (Details Textual)
1 Months Ended 3 Months Ended 9 Months Ended
Jul. 02, 2020
USD ($)
shares
May 08, 2020
USD ($)
$ / shares
shares
Apr. 17, 2020
USD ($)
shares
Apr. 02, 2020
USD ($)
$ / shares
shares
Jan. 13, 2020
USD ($)
$ / shares
shares
Dec. 12, 2019
USD ($)
$ / shares
shares
Aug. 20, 2020
$ / shares
shares
Apr. 28, 2020
USD ($)
$ / shares
shares
Feb. 20, 2020
USD ($)
$ / shares
shares
Feb. 18, 2020
USD ($)
$ / shares
shares
Nov. 30, 2019
USD ($)
$ / shares
shares
Oct. 31, 2019
USD ($)
$ / shares
shares
Sep. 30, 2020
USD ($)
$ / shares
shares
Jun. 30, 2020
USD ($)
shares
Mar. 31, 2020
USD ($)
shares
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
$ / shares
shares
Sep. 30, 2019
USD ($)
shares
Dec. 31, 2019
USD ($)
$ / shares
shares
Shareholders' Deficit (Textual)
Preferred Stock par value | $ / shares $ 0.10 $ 0.10 $ 0.10
Net of fees $ 2,500
Amortization of debt discount 424,001 $ 49,042
Accrued interest $ 36,244 $ 36,244
Common shares issued for debt conversion, shares | shares 203,125 37,171,800
Amount of common stock upon conversion 86,944 $ 91,365
Accrued dividends 1,055 $ 1,055
Stock-based compensation 366,825 1,845,834
Interest expense 274,966 $ 58,421 732,547 171,060
Issuance of common shares for services, amount 6,500 $ 50,000 50,000
Stock-based professional fees $ (69,917) (292,785)
Common share exercise compensation, shares | shares 16,132,701
Total unrecognized compensation expense related to unvested common shares $ 194,889 $ 194,889
Weighted average period 1 year
Cash proceeds from investor $ 117,047
Warrant exercise price reduced | $ / shares $ 0.01 $ 0.01
Aggregate principal amount $ 135,833
Convert of deferred compensation $ 16,250
Exercise of stock options, value 19,185
Recorded settlement expense
Increase decrease in accounts payable 55,721 161,330
Increase decrease in accrued expenses 88,771 51,097
Shares issued for deferred compensation, description the Company entered into two one-year advisory board agreements with two individuals for services to be rendered on the Company's medical advisory board. In connection with these advisory board agreements, the Company issued an aggregate of 500,000 restricted common shares of the Company to these advisory board members. These shares vest on April 1, 2021. These shares were valued at $20,000, or $0.04 per common share, based on contemporaneous common share sales by the Company. In connection with this consulting agreement, during the nine months ended September 30, 2020, accretion of stock-based consulting fees amounted to $10,000 and the remaining stock-based consulting fees of $10,000 shall be accreted over the remaining vesting period.
Conversion of principal balance $ 152,285
Stock option, description The weighted average period over which stock-based compensation expense related to these options will be recognized is approximately 4 months.
Accrued dividend payable $ 4,852 $ 1,562
Investor and redeemed | shares 103,200
Redemption penalties 12,285
Remaining put premium balance $ 24,207
Gain on extinguishment 24,207
Conversion Price 450,204
Equity Option [Member]
Shareholders' Deficit (Textual)
Recognized compensation expense 576,025 $ 1,539,188
Total unrecognized compensation expense related to unvested common shares $ 33,636 33,636
Accounts Payable [Member]
Shareholders' Deficit (Textual)
Common shares per share | $ / shares $ 0.04
Sale of common shares, shares | shares 151,456
Sale of common shares, value $ 6,058
Consulting Agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share | $ / shares $ 0.04
Shares of grant restricted stock award of common shares | shares 1,250,000
Value of grant restricted stock award of common shares $ 50,000
Stock-based professional fees $ 50,000
Employment Agreements [Member]
Shareholders' Deficit (Textual)
Common shares per share | $ / shares $ 0.04
Shares of grant restricted stock award of common shares | shares 200,000
Value of grant restricted stock award of common shares $ 8,000
Restricted Stock Award Agreements [Member]
Shareholders' Deficit (Textual)
Common shares per share | $ / shares $ 0.04
Shares of grant restricted stock award of common shares | shares 6,750,000
Value of grant restricted stock award of common shares $ 270,000
Percentage of restricted shares 100.00%
Investor [Member]
Shareholders' Deficit (Textual)
Common shares per share | $ / shares $ 0.023 $ 0.04 $ 0.04
Sale of common shares, shares | shares 7,000,000 7,000,000 7,000,000
Sale of common shares, value $ 161,000 $ 280,000 $ 280,000
Warrants [Member]
Shareholders' Deficit (Textual)
Exercise price | $ / shares $ 0.10 $ 0.10
Warrant exercise price reduced | $ / shares $ 0.003 $ 0.003
Warrant purchase, description On March 30, 2020 and on April 23, 2020, in connection with Purchase Agreements with an accredited investor (See Note 6), the Company issued warrants to purchase an aggregate amount up to 288,750 shares of the Company's common stock (the "Warrants"). The Warrants were exercisable at any time on or after the date of the issuance and entitled this investor to purchase shares of the Company's common stock for a period of five years from the initial date the warrants become exercisable. Under the terms of the Warrants, the holder was entitled to exercise the Warrants to purchase up to 288,750 shares of the Company's common stock at an initial exercise price of $0.10, subject to adjustment as detailed in the Warrants. In connection with the issuance of the warrants, on the initial measurement date, the relative fair value of the warrants of $14,498 was recorded as a debt discount and an increase in paid-in capital (See Note 6).
Preferred Stock
Shareholders' Deficit (Textual)
Accrued dividend payable $ 1,740
Non-vested, forfeitable common shares [Member]
Shareholders' Deficit (Textual)
Common shares issued for debt conversion, shares | shares 500,000
Common shares issued for debt conversion, amount $ 6,500
Shares conversion price 0.013
Amount of common stock upon conversion $ 23,897 $ 12,800
Shares of common stock upon conversion | shares 23,896,800 12,800,000
Issuance of common shares for services, shares | shares 500,000 7,450,000 1,250,000
Issuance of common shares for services, amount $ 500 $ 7,450 $ 1,250
Stock-based professional fees $ 3,250
Prepaid expenses $ 3,250
2018 Long-term Incentive Plan [Member]
Shareholders' Deficit (Textual)
Aggregate shares of common stock issued without any minimum vesting period | shares 25,000,000
Aggregate number of common stock issued under plan | shares 50,000,000
Incentive stock options | shares 11,445,698 11,445,698
Description of options to acquire common stock The exercise price of options granted under our 2018 Plan must at least be equal to the fair market value of the Company's common stock on the date of grant and the term of an option may not exceed ten years, except that with respect to an incentive stock option granted to any employee who owns more than 10% of the voting power of all classes of the Company's outstanding stock as of the grant date the term must not exceed five years and the exercise price must equal at least 110% of the fair market value on the grant date.
Restricted stock have been issued $ 23,700,000 $ 23,700,000
Series A Preferred Stock [Member]
Shareholders' Deficit (Textual)
Shares designated | shares 800,000 800,000 800,000
Preferred Stock par value | $ / shares $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10
Preferred stock stated value | $ / shares $ 1.00 $ 1.00
Preferred stock unregistered | shares 211,200 211,200 154,800 154,800
Preferred stock unregistered value $ 133,000 $ 133,000 $ 129,000 $ 129,000
Cash proceeds 127,000 127,000
Net of fees 6,000 6,000
Amortization of debt discount $ 6,000 $ 6,000
Debt premium to paid-in capital. 49,543 49,543
Stated value $ 211,200 $ 211,200
Common shares per share | $ / shares $ 0.833 $ 0.833 $ 0.833 $ 0.833
Accrued dividends $ 4,224 $ 4,224
Aggregate premium $ 0 $ 0
Series C Preferred Stock [Member]
Shareholders' Deficit (Textual)
Shares designated | shares 100,000 100,000 100,000
Preferred Stock par value | $ / shares $ 0.10 $ 0.10 $ 0.10 $ 0.10
Preferred stock stated value | $ / shares $ 100.00 $ 100.00
Preferred Stock dividend Rate 2.00% 4.00%
Preferred stock dividend increased 22.00%
Conversion price converted into market price 81.00%
Market price representing at discount rate 19.00%
Debt premium charge to interest expenses $ 42,553
Preferred stock unregistered value $ 630,000 630,000
Cash proceeds 120,000
Net of fees 9,000
Amortization of debt discount 9,000
Amortization of discount charged to interest expense 14,333
Amount of common stock upon conversion $ 211,200
Shares of common stock upon conversion | shares 16,132,701
Interest expense $ 126,423
Description of options to acquire common stock The Company issued 16,132,701 shares its common stock upon the conversion of 211,200 shares of Series A preferred with a stated redemption value of $211,200 and related accrued dividends payable of $4,224. The conversion price was based on contractual terms of the related Series A preferred shares. Upon conversion, the Company reclassified put premium of $49,543 to paid-in capital.
Purchase of shares | shares 6,300 6,300
Designations established share | shares 100,000
Series B Preferred Stock [Member]
Shareholders' Deficit (Textual)
Shares designated | shares 100,000 100,000 100,000 100,000
Preferred Stock par value | $ / shares $ 0.10 $ 0.10 $ 0.10 $ 0.10
Preferred Stock dividend Rate 2.00%
Stated value $ 1,000
Accrued dividends $ 1,055 $ 1,055
Series A preferred stock balance 109,740 109,740
Liquidation value $ 630,000 630,000
Conversion of principal balance 631,055
Stock option, description The Series B is convertible at the option of a holder or if the closing price of the common stock exceeds 400% of the Conversion Price for a period of twenty consecutive trading days, at the option of the Company. Conversion Price means a price per share of the common stock equal to 100% of the lowest daily volume weighted average price of the common stock during the two years preceding or subsequent two years following the Issuance Date, subject to adjustment as otherwise provided in the Certificate of Designations (the "Conversion Price").
Accrued dividend payable $ 1,740
Convertible Preferred Stock [Member]
Shareholders' Deficit (Textual)
Settlement of accrued compensation | shares 108