XML 53 R41.htm IDEA: XBRL DOCUMENT v3.22.1
Stockholders’ Equity (Details) - USD ($)
1 Months Ended 12 Months Ended
Apr. 14, 2021
Feb. 09, 2021
Aug. 03, 2020
Apr. 18, 2020
Apr. 15, 2020
Jan. 18, 2021
Apr. 28, 2020
Apr. 17, 2020
Apr. 15, 2020
Dec. 31, 2021
Dec. 31, 2020
Mar. 10, 2021
Jul. 06, 2020
Nov. 30, 2019
Apr. 30, 2013
Stockholders’ Equity (Details) [Line Items]                              
Authorized shares of preferred stock                   5,000,000 5,000,000        
Preferred stock, par value                   $ 0.0001 $ 0.0001        
Converted preferred stock 4,049   4,000                        
Convertible common stock 13,495,014   2,000,000     8,500,000                  
Redemption value     $ 400,000                        
Exchange agreements, description                 the Company entered into Exchange Agreements with the holders of its Series B Preferred Stock, which shares of Series B Preferred Stock were originally issued in November 2019. Pursuant to the Exchange Agreements, the holders agreed to exchange their 115 shares of Series B Preferred Stock with a stated value of $115,000 and 575,000 warrants issued in connection with the Series B Preferred Stock for an aggregate of 1,437,500 shares of the Company’s common stock at a price of $0.08 per share. After the exchanges, there are no shares of the Company’s Series B Preferred Stock outstanding. The Company issued 1,437,500 shares of common stock which was more than the shares that would have been issued at the original conversion price of $0.20 per share or 575,000 shares of common stock, an excess of 862,500 shares of common stock. The excess shares were valued at a price of $0.08 per share. Consequently, in connection with this share exchange, the Company recorded a deemed dividend on this extinguishment of $69,000 during the year ended December 31, 2020. Accordingly, there are no shares of Series B Preferred Stock issued and outstanding as of December 31, 2021 and 2020.            
Preferred stock conversion, description                   The Series C Convertible Preferred Stock and the February Warrants each contain a beneficial ownership limitation that restricts each of the investor’s ability to exercise the February Warrants and convert the Series C Convertible Preferred Stock such that the number of shares of the Company common stock held by each of them and their affiliates after such conversion or exercise does not exceed 4.99% (or, at the election of the Investor, 9.99%) of the Company’s then issued and outstanding shares of common stock.           
Warrants term                   5 years          
Exercise price                   $ 0.3          
Warrants period date                   180 days          
Subsequent financing, percentage                   50.00%          
Obligation percentage                   1.00%          
Placement agent warrants, description                   pursuant to the terms of the offering, the Company issued Bradley Woods & Co, Ltd. and Katalyst Securities LLC warrants (the “Placement Agent Warrants”) to purchase up to an aggregate of 2,850,664 shares of common stock, or 10% of the shares of common stock issuable upon conversion of the Series C Preferred Stock and February Warrant Shares sold in the offering. The Placement Agent Warrants are exercisable for a period of five years from the closing date of the offering at an exercise price of $0.35 per share, subject to adjustment.          
Risk free interest rate                   0.50%          
Expected dividend yield                   0.00%          
Expected term                   5 years          
Expected volatility                   169.00%          
Aggregate grant date fair value of placement agent warrants                   $ 1,106,000          
Shares of common stock                   12          
Proceeds from issuance of common stock                   $ 2,115,733        
Subscription receivable                         $ 2,000    
Total Subscription Receivable Value       $ 77,644                      
Common stock, par value                   $ 0.0001 $ 0.0001        
Investor invested amount                   $ 100,000          
Subsequent financing, percentage                   50.00%          
Liquidity damage, description                   the Company is obligated to pay the investors liquidated damages in the amount of 1% of their subscription amount, per month, until such events are satisfied, subject to a cap of 6%.          
Amortization of prepaid stock-based expense                   $ 107,970 $ 578,924        
Prepaid expenses and other current assets                   0 107,970        
Preferred stock value                          
Deemed dividend                     69,000        
Loss on debt extinguishment                   (197,682)        
Convertible long term notes payables         $ 330,000                    
Warrants issued         1,650,000                    
Aggregate number of common stock         4,125,000                    
Preferred stock stated value         $ 0.08                    
Stock-based compensation                   $ 83,728          
Purchase agreement, description   the Company entered into pursuant to securities purchase agreements with certain investors pursuant to which it sold warrants to purchase up to 14,253,323 shares of the Company’s common stock and 4,276 shares of the Company’s Series C Convertible Preferred Stock. The February Warrants are exercisable for a period of five years from the date of issuance at an exercise price of $0.30 per share, subject to adjustment. If, after a period of 180 days after the date of issuance of the February Warrants, a registration statement covering the resale of the February Warrant Shares is not effective, the holders may exercise the February Warrants by means of a cashless exercise. In addition, pursuant to the terms of the offering, the Company issued the Placement Agent Warrants to purchase up to an aggregate of 2,850,664 shares of common stock to its placement agents, or 10% of the shares of common stock issuable upon conversion of the Series C Preferred Stock and February Warrant Shares sold in the offering. The Placement Agent Warrants are exercisable for a period of five years from the closing date of the offering at an exercise price of $0.35 per share, subject to adjustment (see Series C Convertible Preferred Stock Financing above). Such warrants issued to various investors and to the placement agents were recorded as additional paid in capital with an offsetting debit applied against additional paid in capital, thus these warrants have no further accounting effect within the equity section.                          
Subscription Agreements [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Conversion price per share       $ 0.01                      
Shares of common stock       7,764,366                      
Proceeds from issuance of common stock       $ 75,644                      
Subscription receivable       $ 2,000                      
Securities Purchase Agreements [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Shares of common stock             29,993,750                
Proceeds from issuance of common stock             $ 2,399,500                
Common stock, par value             $ 0.08                
Placement agent fees             $ 242,950                
Other offering expenses             118,460                
Total net proceeds             $ 2,038,090                
Advisory Agreements [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Shares of common stock               5,117,343              
Proceeds from issuance of common stock               $ 409,387              
Common stock, par value               $ 0.08              
Consulting Agreement [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Shares of common stock               3,468,841              
Proceeds from issuance of common stock               $ 277,508              
Common stock, par value               $ 0.08              
Employment Agreement [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Shares of common stock               7,630,949              
Proceeds from issuance of common stock               $ 610,476     610,476        
Common stock, par value               $ 0.08              
Exchange Agreements [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Convertible promissory notes, description         the Company entered into Exchange Agreements with the holders of certain convertible promissory notes. Pursuant to these Exchange Agreements, the holders agreed to exchange their convertible promissory notes of $330,000 and 1,650,000 warrants issued in connection with this debt for an aggregate of 4,125,000 shares of the Company’s common stock at a price of $0.08 per share                    
Loss on debt extinguishment                     $ 198,000        
Minimum [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Authorized number of shares                       100,000,000      
Maximum [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Authorized number of shares                       500,000,000      
Warrant [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Warrants term           5 years                  
Exercise price           $ 0.2                  
Convertible promissory notes, description         The Company issued 4,125,000 shares of common stock which was more than the shares that would have been issued at the original conversion price of $0.20 per share or 1,650,000 shares of common stock, an excess of 2,475,000 shares of common stock. The excess shares were valued at a price of $0.08 per share.                    
Loss on debt extinguishment         $ 198,000                    
Purchase of warrants shares           250,000                  
Warrant, description                   The warrants were valued on the grant date at approximately $0.33 per warrant for a total of $83,728 using a Black-Scholes option pricing model with the following assumptions: stock price of $0.35 per share (based on the quoted trading price on the date of grant), volatility of 169%, expected term of five year, and a risk-free interest rate of 0.46%.          
Series A Preferred Stock [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Authorized shares of preferred stock                             1,000,000
Preferred stock, shares issued                     4,000        
Convertible into shares of common stock                     2,000,000        
Preferred stock value                     $ 400,000        
Series B Preferred Stock [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Authorized shares of preferred stock                   2,000 2,000     2,000  
Preferred stock, par value                   $ 0.0001 $ 0.0001        
Preferred stock conversion, description         On April 15, 2020, the Company entered into Exchange Agreements with the holders of its Series B Preferred Stock whereby the holders agreed to exchange their 115 shares of Series B Preferred Stock with a stated value of $115,000 and 575,000 warrants issued in connection with the Series B Preferred Stock for an aggregate of 1,437,500 shares of the Company’s common stock at a price of $0.08 per share.                    
Preferred stock, shares issued                          
Preferred stock value                          
Aggregate number of common stock                            
Series C Preferred Stock [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Authorized shares of preferred stock   4,280               4,280 4,280        
Preferred stock, par value                   $ 0.0001 $ 0.0001        
Preferred stock, shares issued                   227        
Preferred stock value                          
Aggregate number of common stock                            
Series C Convertible Preferred Stock [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Authorized shares of preferred stock   4,280               4,280          
Preferred stock, par value                   $ 0.0001          
Convertible preferred stock stated value                   1,000          
Preferred stock outstanding, description                   A holder of Series C Convertible Preferred Stock may not convert any portion of the Series C Convertible Preferred Stock to the extent that the holder, together with its affiliates and any other person or entity acting as a group, would own more than 4.99% (or, upon election by a holder prior to issuance, 9.99%) of the outstanding shares of the Company’s common stock after conversion, which beneficial ownership limitation may be increased by the holder up to, but not exceeding, 9.99%.          
Preferred stock, shares outstanding                   227          
Series C Conversion Price [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Conversion price per share                   $ 0.3          
Series C Purchase Agreements [Member]                              
Stockholders’ Equity (Details) [Line Items]                              
Preferred stock conversion, description   the Company entered into securities purchase agreements (collectively, the “Series C Purchase Agreements”) with certain institutional and accredited investors for the sale of an aggregate of 4,276 shares of the Company’s Series C Convertible Preferred Stock and warrants (the “February Warrants”) to purchase up to 14,253,323 shares (the “February Warrant Shares”) of the Company’s common stock for gross proceeds of approximately $4,276,000, before deducting placement agent and other offering expenses of $481,898 which are offset against the proceeds in additional paid in capital. The offering closed on February 12, 2021. Accordingly, the Company recognized a total deemed dividend of $1,403,997 for the beneficial conversion feature in connection with the issuance of these Series C Convertible Preferred Stock.