Annual report pursuant to Section 13 and 15(d)

Shareholders' Deficit (Details Textual)

v3.20.1
Shareholders' Deficit (Details Textual) - USD ($)
 1 Months Ended 10 Months Ended 12 Months Ended
Dec. 12, 2019
Dec. 09, 2019
Oct. 02, 2019
Sep. 06, 2019
Aug. 15, 2019
Jul. 18, 2019
Jul. 12, 2019
Mar. 14, 2019
Mar. 12, 2019
Aug. 15, 2018
Jun. 12, 2018
Mar. 07, 2018
Jan. 02, 2018
Nov. 30, 2019
Nov. 19, 2019
Oct. 31, 2019
Jul. 29, 2019
Jul. 29, 2019
May 20, 2019
Nov. 14, 2018
Oct. 06, 2018
Sep. 30, 2018
Aug. 20, 2018
Jun. 30, 2018
Apr. 30, 2018
Apr. 25, 2018
Mar. 28, 2018
Aug. 31, 2013
Dec. 27, 2016
Dec. 31, 2019
Dec. 31, 2018
Jan. 31, 2019
Dec. 31, 2016
Dec. 31, 2015
Shareholders' Deficit (Textual)
Preferred Stock par value $ 0.10 $ 0.10
Amortization of Debt Discount $ 160,542 $ 40,691
Accrued interest $ 5,833
Common shares issued for debt conversion, shares 136,894
Common shares issued for debt conversion, amount $ 100,000
Stock-based compensation 1,942,799 4,518,829
Issuance of common shares for services, amount 202,360 118,750
Stock-based professional fees (355,393) $ (118,750)
Non-vested shares 485,060
Common share exercise compensation, shares 750,000
Common share exercise compensation periodic payment $ 5,000
Employee credited towards options exercise 182,500 $ 175,000
Option exercise price $ 0.31
Recognized compensation expense $ 7,500 60,000
Weighted average period 1 year
Subscription receivable $ 19,185 $ 19,185
Aggregate principal amount 135,833
Unrecognized compensation expense $ 273,714
Convert shares of common stock 3.233733
Exercise of stock options, shares 3,000,000 2,650,525
Exercise of stock options, value $ 19,185 $ 195,000
Common shares issued upon exercise of stock options 3,000,000 1,757,032
Reduced accrued compensation $ 90,000 $ 20,575
Recorded settlement expense 200,000
Increase decrease in accounts payable 239,605 382,067
Increase decrease in accrued expenses $ 89,266 $ 22,709
Conversion of principal balance $ 12,000
Issued shares of common stock 295,567
Stock option, description The weighted average period over which stock-based compensation expense related to these options will be recognized is approximately 11 months.
C-Bond Systems, LLC
Shareholders' Deficit (Textual)
Deemed issuance of common stock for reverse recapitalization, shares 9,106,250
Deemed issuance of common stock for reverse recapitalization, Value $ 187,401
Post-merger shares of common stock, value $ 25,000
Post-merger shares of common stock, shares 1,000,000
Former Chief Executive Officer [Member]
Shareholders' Deficit (Textual)
Common shares issued for debt conversion, shares 12,694,893
Common shares issued for debt conversion, amount $ 392,577
Common shares per share $ 0.031
Stock-based compensation $ 270,878
Convert of deferred compensation $ 80,000
Convert shares of common stock 2,000,000
Reduced accrued compensation $ 392,577
Shares issued for deferred compensation, description The Company's Chief Executive Officer, elected to convert $40,000 of deferred compensation owed to him into 800,000 shares of the Company's common stock at $0.05 per share. On July 29, 2019, the Company's President and Chief Operating Officer, elected to convert $50,000 of deferred compensation owed to him into 1,000,000 shares of the Company's common stock at $0.05 per share. The fair market value of these shares of $0.05 per share is based on contemporaneous common share sales. Since the deferred compensation was converted at fair value, no gain or loss was recorded. These shares are issued under the Company's 2018 Long-Term Incentive Plan and are restricted as to resale until May 1, 2020.
President and Chief Operating Officer [Member]
Shareholders' Deficit (Textual)
Shares issued for deferred compensation, description On July 18, 2019, the Company's President and Chief Operating Officer, elected to convert $80,000 of deferred compensation owed to him into 2,000,000 shares of the Company's common stock at $0.04 per share. The fair market value of these shares of $0.04 per share is based on contemporaneous common share sales. Since the deferred compensation was converted at fair value, no gain or loss was recorded. These shares are issued under the Company's 2018 Long-Term Incentive Plan and are restricted as to resale until May 1, 2020.
Two employees [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.04
Convert of deferred compensation $ 24,000
Convert shares of common stock 600,000
Long term incentive plan, description These shares are issued under the Company's 2018 Long-Term Incentive Plan and are restricted as to resale until May 1, 2020.
Investor
Shareholders' Deficit (Textual)
Common shares per share $ 0.85
Sale of common shares, shares 32,337
Sale of common shares, value $ 27,500
Vendor
Shareholders' Deficit (Textual)
Common shares per share $ 0.85
Common shares issued for settlement, shares 315,957
Common shares issued for settlement, value $ 268,694
Recorded settlement expense 153,779
Increase decrease in accounts payable 39,915
Increase decrease in accrued expenses $ 75,000
2018 Long-term Incentive Plan [Member]
Shareholders' Deficit (Textual)
Stock-based professional fees $ 82,460
2018 Long-term Incentive Plan [Member]
Shareholders' Deficit (Textual)
Aggregate shares of common stock issued without any minimum vesting period 25,000,000
Aggregate number of common stock issued under plan 50,000,000
Incentive stock options 8,445,698
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 $ 15,250,000
2018 Long-term Incentive Plan [Member] | Employees [Member]
Shareholders' Deficit (Textual)
Value of grant restricted stock award of common shares 32,000
Stock-based professional fees 25,333
Prepaid expenses $ 6,667
Vesting period 1 year
Warrants [Member]
Shareholders' Deficit (Textual)
Stock-based professional fees $ 159,700 $ 0
Warrant purchase, description The Company shall issue to Dinosaur warrants to purchase an equal proportion of warrants to the number of shares issued or issuable to investors in the private placement. Additionally, per the terms of the Letter Agreement, upon signing of the agreement, the Company issued to Dinosaur warrants (the "Warrants") to purchase 1,000,000 shares of C-Bond Common Stock, granted in three successive tranches as outlined below, with an exercise price of $0.18 or current market price at the time, whichever is lower, as set forth in the Letter Agreement. Upon signing of the Letter Agreement, Dinosaur received Warrants to purchase 200,000 shares of the Company's common stock at $0.18 per share. On June 14, 2019, the three-month anniversary of the Letter Agreement, Dinosaur received Warrants to purchase 400,000 shares of the Company's common stock at $0.08 per share. On September 14, 2019, Dinosaur received Warrants to purchase 200,000 shares of the Company's common stock at $0.05 per share. On December 14, 2019, Dinosaur received Warrants to purchase 200,000 shares of the Company's common stock at $0.07 per share. The Warrants shall be exercisable over a five-year term from date each tranche date and shall be assignable to others at Dinosaur's discretion. These warrants were valued at the grant date using a Black-Scholes option pricing model with the following assumptions; risk-free interest rate of 2.43%, expected dividend yield of 0%, expected warrant term of five years, and an expected volatility of 275.0%. The aggregate grant date fair value of these awards amounted to $159,700.
Risk-free rate 2.43%
Dividend yield 0.00%
Expected term 5 years
Expected volatility 275.00%
Fair value of the award amount $ 159,700
Subscription Agreement One [Member]
Shareholders' Deficit (Textual)
Cash proceeds from investor $ 480,000
Purchase of shares 10,750,000
Subscription Agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.15 $ 0.85 $ 0.77
Cash proceeds from investor $ 300,000
Purchase of shares 2,000,000
Subscription Agreement [Member] | Five Investors [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.40
Common stock issued for merger, Shares 3,100,000
Common stock issued for merger, Value $ 1,240,000
Consulting Agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.17 $ 0.40 $ 0.85 $ 0.05 $ 0.40 $ 0.40
Issuance of common shares for services, shares 485,060 50,000 80,843 510,000 50,000 25,000
Issuance of common shares for services, amount $ 82,460 $ 20,000 $ 68,750 $ 25,500 $ 20,000 $ 10,000
Stock-based professional fees $ 25,500 $ 82,460 88,750
Employment agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.85
Employment agreement [Member] | Vice president [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.40
Shares of grant restricted stock award of common shares 500,000
Value of grant restricted stock award of common shares $ 200,000
Stock-based compensation $ 125,000 75,000
Vesting period 1 year
Vesting date Aug. 15, 2019
Marketing Agreement
Shareholders' Deficit (Textual)
Common shares per share $ 0.044
Issuance of common shares for services, shares 350,000
Issuance of common shares for services, amount $ 15,400
Stock-based professional fees $ 15,400
Settlement and release agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.40
Common shares issued for settlement, shares 500,000
Common shares issued for settlement, value $ 200,000
Recorded settlement expense $ 200,000
Consulting Agreement One [Member]
Shareholders' Deficit (Textual)
Stock-based professional fees 10,000
Consulting Agreement Two [Member]
Shareholders' Deficit (Textual)
Stock-based professional fees 20,000
Purchase Agreements [member] | Warrants [Member]
Shareholders' Deficit (Textual)
Warrant purchase 1,050,000 1,050,000
Exercise price $ 0.10 $ 0.10
Fair value of the warrants $ 61,899 $ 61,899
Warrant term 5 years 5 years
Purchase of warrant exercise 1,050,000 1,050,000
Restricted common shares [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.05 $ 0.05
Shares of grant restricted stock award of common shares 10,500,000
Value of grant restricted stock award of common shares $ 525,000
Stock-based compensation 313,889
Restricted stock award agreements, description These shares will vest on May 1, 2020. If the employee’s employment is terminated for any reason, these shares will immediately be forfeited. In the event of a change of control, the employee shall be 100% vested in all shares of restricted shares subject to these Agreements.
Restricted common shares [Member] | Employees [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.05 $ 0.85
Shares of grant restricted stock award of common shares 1,300,000
Value of grant restricted stock award of common shares $ 65,000
Stock-based compensation 1,558,333
Issuance of common shares for services, shares 200,000 3,233,732
Issuance of common shares for services, amount $ 2,750,000
Non-vested shares 485,060
Restricted stock award agreements, description In the event of a change of control, the employee shall be 100% vested in all shares of restricted shares subject to these Agreements. These shares will vest on May 1, 2021. If the employee's employment is terminated for any reason, these shares will immediately be forfeited. In the event of a change of control, the employee shall be 100% vested in all shares of restricted shares subject to these Agreements.
Vesting date May 01, 2021
Restricted common shares [Member] | Employees [Member] | Executive Officer [Member]
Shareholders' Deficit (Textual)
Shares of grant restricted stock award of common shares 2,750,000
Value of grant restricted stock award of common shares $ 1,100,000
Stock-based compensation $ 847,916 252,085
Restricted stock award agreements, description In the event of a change of control, the employee shall be 100% vested in all shares of restricted shares subject to these Agreements.
Restricted common shares [Member] | Employees One
Shareholders' Deficit (Textual)
Stock-based compensation $ 2,397 $ 0
Restricted common shares [Member] | Consulting Agreement [Member] | Employees [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.094
Shares of grant restricted stock award of common shares 500,000
Value of grant restricted stock award of common shares $ 47,000
Stock-based professional fees $ 47,000
Maximum [Member] | Subscription Agreement One [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.05
Minimum [Member] | Subscription Agreement One [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.04
Minimum [Member] | Subscription Agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.85 $ 0.77
Series A Preferred Stock [Member]
Shareholders' Deficit (Textual)
Shares designated 800,000 800,000
Preferred Stock par value $ 0.10 $ 0.10 $ 0.10 $ 0.10
Preferred stock stated value $ 1.00
Preferred Stock dividend Rate 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 $ 31,197
Preferred stock unregistered 159,600 159,600
Cash proceeds $ 127,000 $ 127,000
Net of fees 6,000 6,000
Amortization of Debt Discount 6,000 6,000
Amortization of discount charged to interest expense 667 667
Accrued interest $ 934 $ 934
Common shares per share $ 0.833 $ 0.833
Series B Preferred Stock [Member]
Shareholders' Deficit (Textual)
Shares designated 100,000 100,000 100,000
Preferred Stock par value $ 0.10 $ 0.10 $ 0.10
Preferred Stock dividend Rate 2.00%
Stated value $ 1,000
conversion date May 01, 2020
Accrued compensation $ 108,000
Convertible Preferred Stock [Member]
Shareholders' Deficit (Textual)
Settlement of accrued compensation 108