Series A Redeemable Convertible Preferred Stock (Tables)

3 Months Ended

Mar. 31, 2019

Embedded Derivative Instruments Rollforward

The fair value of these derivative instruments and the loss recorded on the change in the fair value of these derivative instruments, which was included in “Interest and other income, net” within the condensed consolidated statement of operations, for the three months ended March 31, 2019 and 2018, were as follows:



	Three Months Ended March 31,
	2019			2018
Beginning Balance	$	498,086		$	445,838
Total income (loss) recognized in earnings	(5,759		)	—
Ending Balance	$	492,327		$	445,838

Reconciliation of net (loss) income attributable to common stockholders

The following represents a reconciliation of net loss attributable to common stockholders for the three months ended March 31, 2019 and 2018, respectively:



	Three Months Ended March 31,
	2019			2018
Net income (loss)	$	(124,907	)	$	506,877
Effects of Series A redeemable convertible preferred stock:
Less: Accrual of Series A redeemable convertible preferred stock dividends	247,027			243,167
Less: Deemed dividend on Series A redeemable convertible preferred stock	—			2,269,042
Less: Accretion to redemption value of Series A redeemable convertible preferred stock	129,239			38,105
Net loss attributable to common stockholders	$	(501,173	)	$	(2,043,437	)

Schedule of Components of Series A Preferred Stock

The Series A Preferred Stock consists of the following:



Series A redeemable convertible preferred stock principal balance	$	9,000,000
Accrued dividends	1,312,112
Discount	(1,602,428		)
Total Series A redeemable convertible preferred stock, net at inception on February 23, 2018	8,709,684
Accrued dividends	683,742
Accretion of preferred stock	363,280
Total Series A redeemable convertible preferred stock, net at December 31, 2018	$	9,756,706
Accrued dividends	247,027
Accretion of preferred stock	129,239
Total Series A redeemable convertible preferred stock, net at March 31, 2019	$	10,132,972