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Warrants (Tables) - Warrant [Member]
6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Class of Warrant or Right [Line Items]    
Schedule of warrants to purchase the Company's common stock  
Issuance Date   Warrants Issued     Exercise Price     Full Vesting Date   Expiration Date
November 20, 2015     70,000     $ 5.00     November 20, 2015   November 20, 2020
April 27, 2016     60,000     $ 2.91     April 27, 2016   April 27, 2019
August 3, 2017     30,000     $ 0.50     August 3, 2017   August 3, 2021
August 3, 2017     2,000,000     $ 0.50     August 3, 2017   August 3, 2022
November 9, 2017     20,000     $ 0.50     November 9, 2017   November 9, 2021
September 26, 2018     100,000     $ 1.00     September 26, 2018   September 26, 2022
Schedule of assumptions used to estimate fair value warrants granted
   2020 
Expected dividend yield   0%
Expected volatility   29.29%
Risk-free interest rate   0.36%
Expected life of warrants   5.0 years 

The following table summarizes the assumptions used to estimate the fair value of the warrants granted during fiscal 2019:

 

Expected dividend yield   0%
Expected volatility    32-33%
Risk-free interest rate    1.38-1.82%
Expected life of warrants    2.27-3.0 years
Schedule of warrant activity
   Number of
Warrants
   Weighted-
Average
Exercise
Price
   Weighted-
Average
Remaining
Contractual
Life in
Years
   Aggregate
Intrinsic
Value
 
Outstanding – December 31, 2019   503,523   $0.95    1.96   $258,328 
Exercisable –  December 31, 2019   503,523   $0.95    1.96   $258,328 
Granted   186,508    0.99    5.00    - 
Exercised   (283,530)   0.01    1.50    - 
Forfeited or Expired   -    -    -    - 
Outstanding – June 30, 2020   406,501   $1.62    2.98   $43,690 
Exercisable – June 30, 2020   406,501   $1.62    2.98   $43,690 

 

   Number of
Warrants
   Weighted-
Average
Exercise
Price
   Weighted-
Average
Remaining
Contractual
Life in
Years
   Aggregate
Intrinsic
Value
 
Outstanding – January 10, 2019   2,280,000   $0.72    3.44   $ 
Exercisable – January 10, 2019   2,280,000   $0.72    3.44   $ 
Granted                
Exercised                
Forfeited or Expired   (60,000)   2.91         
Outstanding – June 30, 2019   2,220,000   $0.66    3.03   $838,450 
Exercisable – June 30, 2019   2,220,000   $0.66    3.03   $838,450 

   Number of Warrants   Weighted-Average Exercise
Price
   Weighted-Average Remaining Contractual Life in Years   Aggregate Intrinsic Value 
Outstanding – January 10, 2019   2,280,000   $0.72    3.44   $ 
Exercisable – January 10, 2019   2,280,000   $0.72    3.44   $ 
Granted   3,868,523    0.18           
Exercised   (5,472,500)   0.23           
Forfeited or Expired   (172,500)   3.61           
Outstanding – December 31, 2019   503,523   $0.95    1.96   $258,328 
Exercisable – December 31, 2019   503,523   $0.95    1.96   $258,328