XML 72 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Series A Redeemable Convertible Preferred Stock (Details Narrative)
12 Months Ended
Sep. 16, 2013
USD ($)
$ / shares
shares
Dec. 31, 2017
USD ($)
day
$ / shares
shares
Dec. 31, 2016
USD ($)
$ / shares
shares
Sep. 13, 2013
$ / shares
Class of Stock [Line Items]        
Series A redeemable convertible preferred stock, shares issued | shares   900,000 900,000  
Series A redeemable convertible preferred stock, par value (in dollars per share) | $ / shares   $ 0.001 $ 0.001  
Series A redeemable convertible preferred stock, purchase consideration (in millions)   $ 9,000,000 $ 9,000,000  
Consecutive trading days, convertible debt threshold | day   60    
Minimum percentage of common stock price to conversion price to determine eligibility of conversion through 60 consecutive trading days   250.00%    
Threshold of stock price trigger, percentage   225.00%    
Daily trading volume   25.00%    
Consecutive days   20 days    
Trading days | day   5    
Preferred Stock, Financing Proceeds Threshold   $ 5,000,000    
Upon fundamental sale transaction holders can redeem   250.00%    
Upon certain triggering events holders can redeem   100.00%    
Series A redeemable convertible preferred stock dividend rate description   The holder of the Series A redeemable convertible preferred stock are entitled to receive quarterly dividends at the Prime Rate (Wall Street Journal Eastern Edition) plus 5% (up to a maximum amount of 10%)    
Series A redeemable convertible preferred stock dividend, minimum cash flow requirement   $ 1,000,000    
Accrued Series A redeemable convertible preferred stock dividends   $ 1,068,947 $ 195,904  
Shares issued for Series A redeemable convertible preferred stock dividends | shares     624,009  
Share price (in dollars per share) | $ / shares       $ 1.23
Voting power | shares   7,317,073    
Percentage of accounts receivable   80.00%    
Accounting treatment for temporary equity   The Company has classified the Series A redeemable convertible preferred stock as temporary equity in the financial statements as it is subject to redemption at the option of the holder under certain circumstances.    
Derivative instruments, fair value     $ 336,862  
Total loss recognized in earnings   $ 108,976 254,838  
Accretion deduction included as an adjustment to net loss attributable to common stockholders   0 1,181,446  
Dividend deduction included as an adjustment to net loss attributable to common stockholders   873,043 777,890  
Redeemable Convertible Preferred Stock, Redemption Price Upon Fundamental Sale, Value   $ 22,500,000    
Redeemable Convertible Preferred Stock, Redemption Price Upon Fundamental Sale, Per Share Purchase Price | $ / shares   $ 2.56    
Interest and other income (loss)        
Class of Stock [Line Items]        
Embedded Derivative, Loss on Embedded Derivative   $ 108,976 254,838  
Series A redeemable convertible preferred stock        
Class of Stock [Line Items]        
Series A redeemable convertible preferred stock, shares issued | shares 900,000      
Series A redeemable convertible preferred stock, par value (in dollars per share) | $ / shares $ 0.001      
Series A redeemable convertible preferred stock price per share (in dollars per share) | $ / shares $ 10      
Series A redeemable convertible preferred stock, purchase consideration (in millions) $ 9,000,000      
Series A redeemable convertible preferred stock conversion price | $ / shares $ 1.02488      
Net proceeds from issuance of Series A redeemable convertible preferred stock $ 8,700,000      
Preferred stock dividends   $ 10,100,000    
Series A redeemable convertible preferred stock | Prime rate        
Class of Stock [Line Items]        
Series A redeemable convertible preferred stock, basis spread on dividend rate, conditional percentage   10.00%    
Basis spread on Series A redeemable convertible preferred stock dividend, percentage   5.00%    
Increase of dividend rate each six months stock remains unredeemed   1.00%    
Maximum | Series A redeemable convertible preferred stock | Prime rate        
Class of Stock [Line Items]        
Maximum dividend rate   19.00%    
Recurring        
Class of Stock [Line Items]        
Derivative instruments, fair value   $ 445,838 336,862  
Fair Value, Inputs, Level 3 | Recurring        
Class of Stock [Line Items]        
Derivative instruments, fair value   $ 445,838 $ 336,862