Series A Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Derivative Reconciliation

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 twelve months ended December 31, 2019 and 2018, were as follows:

	Years Ended December 31,
	2019			2018
Beginning Balance	$	498,086		$	445,838
Total loss recognized in earnings	(14,282		)	52,248
Ending Balance	$	483,804		$	498,086

Derivative Probability and Volatility Assumptions

The probability and volatility assumptions are as follows:

Probability of redemption as part of a fundamental sale transaction	0.5%
Probability of redemption absent a fundamental sale transaction	4.75%
Annual volatility	65%

Reconciliation of net loss attributable to common stockholders

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

	Years Ended December 31,
	2019			2018
Net income (loss)	$	(1,751,954	)	$	(906,714	)
Effects of Series A redeemable convertible preferred stock:
Less: Accrual of Series A redeemable convertible preferred stock dividends	1,157,762			1,035,977
Less: Accretion to redemption value of Series A redeemable convertible preferred stock	389,811			254,212
Less: Deemed dividend on Series A redeemable convertible preferred stock	—			2,269,042
Net income (loss) attributable to common stockholders	$	(3,299,527	)	$	(4,465,945	)