Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Details Textual)

v3.20.1
Shareholders' Deficit (Details Textual) - USD ($)
1 Months Ended 3 Months Ended
Jan. 13, 2020
Dec. 12, 2019
Feb. 20, 2020
Feb. 18, 2020
Nov. 30, 2019
Oct. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Shareholders' Deficit (Textual)
Preferred Stock par value $ 0.10 $ 0.10
Net of fees $ 500
Amortization of Debt Discount 148,917 $ 2,883
Accrued interest $ 12,220
Common shares issued for debt conversion, shares 475,000
Stock-based compensation $ 170,072 909,375
Interest expense 241,203 52,534
Issuance of common shares for services, amount 50,000
Stock-based professional fees $ (15,000) (49,646)
Non-vested shares
Recognized compensation expense $ 7,500
Total unrecognized compensation expense related to unvested common shares $ 103,642
Weighted average period 1 year
Aggregate principal amount $ 279,167 $ 135,833
Unrecognized compensation expense 103,642
Exercise of stock options, value
Recorded settlement expense
Increase decrease in accounts payable 31,113 124,527
Increase decrease in accrued expenses $ 29,609 9,592
Stock option, description The weighted average period over which stock-based compensation expense related to these options will be recognized is approximately 7 months.
Accrued dividend payable $ 2,219
Equity Option [Member]
Shareholders' Deficit (Textual)
Recognized compensation expense 191,308 $ 537,288
Total unrecognized compensation expense related to unvested common shares $ 418,354
Accounts Payable [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.04
Sale of common shares, shares 151,456
Sale of common shares, value $ 6,058
Warrants [Member]
Shareholders' Deficit (Textual)
Warrant purchase, description The Company issued a warrant to purchase up to 144,375 shares of the Company’s common stock (the “Warrant”). The Warrant is exercisable at any time on or after the date of the issuance and entitles 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 Warrant, the holder is entitled to exercise the Warrant to purchase up to 144,375 shares of the Company’s common stock at an initial exercise price of $0.10, subject to adjustment as detailed in the Warrant. In connection with the issuance of the warrants, on the initial measurement date, the relative fair value of the warrants of $8,676 was recorded as a debt discount and an increase in paid-in capital (See Note 6).
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 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 $ 15,250,000
Consulting Agreement [Member]
Shareholders' Deficit (Textual)
Common shares per share $ 0.04
Shares of grant restricted stock award of common shares 1,250,000
Value of grant restricted stock award of common shares $ 50,000
Stock-based professional fees 8,334
Prepaid expenses $ 41,666
Investor
Shareholders' Deficit (Textual)
Common shares per share $ 0.04 $ 0.04
Sale of common shares, shares 7,000,000 7,000,000
Sale of common shares, value $ 280,000 $ 280,000
Series A Preferred Stock [Member]
Shareholders' Deficit (Textual)
Shares designated 800,000 800,000
Preferred Stock par value $ 0.10 $ 0.10 $ 0.10
Preferred stock stated value $ 0.10 $ 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 $ 30,449
Preferred stock unregistered 159,600 159,600 103,200
Cash proceeds $ 127,000 $ 127,000 $ 80,000
Net of fees 6,000 6,000 6,000
Amortization of Debt Discount 6,000 $ 6,000 6,000
Amortization of discount charged to interest expense 5,583 5,583
Accrued interest $ 3,153 3,153
Common shares per share $ 0.833 $ 0.833
Series A preferred stock balance 306,016
Liquidation value 262,800
Aggregate premium 61,646
Unaccreted debt discount 15,833
Unamortized debt offering costs 5,750
Interest expense $ 66,218
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
Accrued Dividends $ 108,000 $ 657
Liquidation value 108,000
Conversion of principal balance $ 108,657
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").
Convertible Preferred Stock [Member]
Shareholders' Deficit (Textual)
Settlement of accrued compensation 108