PREFERRED STOCK AND DETACHABLE WARRANTS (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Summary of temporary equity

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, 2021 and 2020:

	2021		2020
Balance at beginning of period	$	12,718,339	$	11,006,406
Less: conversions of shares to common	(8,446,837)		—
Less: exchanges of shares to common	(4,747,250)		—
Plus: discount accretion	—		854,364
Plus: dividends in kind	475,748		358,512
Balance at end of period	$	—	$	12,219,282

The following table represents the activity related to the Series B1 Preferred Stock, classified as Temporary Equity on the accompanying unaudited consolidated balance sheet, for the six months ended June 30, 2021 and 2020:

	2021		2020
Balance at beginning of period	$	11,036,173	$	12,743,047
Less: conversions of shares to common	(12,046,441)		(3,368,474)
Plus: discount accretion	507,282		616,874
Plus: dividends in kind	502,986		375,177
Balance at end of period	$	—	$	10,366,624

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
	2021		2020
Balance at beginning of period	$	330,412	$	1,969,216
Value of warrants exercised	(3,453,504)		—
Change in valuation of warrants	23,287,535		(1,587,782)
Balance at end of period	$	20,164,443	$	381,434