PREFERRED STOCK AND DETACHABLE WARRANTS (Tables)

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Summary of Temporary Equity

The following table represents the activity related to the Series B1 Preferred Stock, classified as Temporary Equity on the accompanying Consolidated Balance Sheet, for the three months ended June 30, 2019, and 2018:

	2019			2018
Balance at beginning of period	$	13,279,755		$	15,769,478
Less: conversions of shares to common	(119,768		)	(754,766		)
Plus: dividends in kind	472,000			683,044
Plus: discount accretion	397,310			403,014
Balance at end of period	$	14,029,297		$	16,100,770

The following table represents the activity related to the Series B Preferred Stock, classified as Temporary Equity on the accompanying unaudited consolidated balance sheet, during the six months ended June 30, 2019 and 2018:

	2019		2018
Balance at beginning of period	$	8,900,208	$	7,190,467
Less: conversions of shares to common	—		(62,973		)
Plus: discount accretion	666,048		525,664
Plus: dividends in kind	337,798		278,372
Balance at end of period	$	9,904,054	$	7,931,530

Schedule of Liabilities with Unobservable Inputs

The following is an analysis of changes in the derivative liability for the six months ended June 30:

Level Three Roll-Forward
	2019		2018
Balance at beginning of period	$	1,481,692	$	2,245,408
Change in valuation of warrants	959,077		(44,162		)
Balance at end of period	$	2,440,769	$	2,201,246