PREFERRED STOCK AND DETACHABLE WARRANTS (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Summary of temporary equity

The following table represents the activity related to the Series B Preferred Stock, classified as Temporary Equity for the three months ended March 31, 2021:

	March 31, 2021
Balance at beginning of period	$	12,718,339
Less: conversions of shares to common	(1,978,494)
Less: exchanges of shares to common	(4,747,250)
Plus: dividends in kind	317,970
Balance at end of period	$	6,310,565

The following table represents the activity related to the Series B1 Preferred Stock, classified as Temporary Equity, for the three months ended March 31, 2021:

	March 31, 2021
Balance at beginning of period	$	11,036,173
Less: conversions of shares to common	(3,256,024)
Plus: discount accretion	223,727
Plus: dividends in kind	288,594
Balance at end of period	$	8,292,470

Schedule of liabilities with unobservable inputs

The following is an analysis of changes in the derivative liability for the three months ended March 31, 2021:

Level Three Roll-Forward
	March 31, 2021
Balance at beginning of period	$	330,412
Value of warrants exercised	(1,105,935)
Change in valuation of warrants	1,780,203
Balance at end of period	$	1,004,680