Series A Redeemable Convertible Preferred Stock (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2019 and 2018, were as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
Beginning Balance	$	492,327		$	445,838	$	498,086		$	445,838
Total income (loss) recognized in earnings	(2,838		)	37,033		(8,597		)	37,033
Ending Balance	$	489,489		$	482,871	$	489,489		$	482,871

Reconciliation of net (loss) income attributable to common stockholders

The following represents a reconciliation of net loss attributable to common stockholders for the three and six months ended June 30, 2019 and 2018, respectively:



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Net loss	$	(1,171,723	)	$	(1,004,104	)	$	(1,296,630	)	$	(497,227	)
Effects of Series A redeemable convertible preferred stock:
Less: Accrual of Series A redeemable convertible preferred stock dividends	256,553			214,963			503,580			458,130
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	134,223			77,645			263,462			115,750
Net loss attributable to common stockholders	$	(1,562,499	)	$	(1,296,712	)	$	(2,063,672	)	$	(3,340,149	)

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	503,580
Accretion of preferred stock	263,462
Total Series A redeemable convertible preferred stock, net at June 30, 2019	$	10,523,748