Series A Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2020

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 expense” within the consolidated statement of operations, for the twelve months ended December 31, 2020 and 2019, were as follows:

	Years Ended December 31,
	2020		2019
Beginning Balance	$	483,804	$	498,086
Total (gain) loss recognized in earnings	(10,953)		(14,282)
Ending Balance	$	472,851	$	483,804

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, 2020 and 2019, respectively:

	Years Ended December 31,
	2020		2019
Net income (loss)	$	1,138,509	$	(1,751,954)
Effects of Series A redeemable convertible preferred stock:
Less: Accrual of Series A redeemable convertible preferred stock dividends	1,083,892		1,157,762
Less: Accretion to redemption value of Series A redeemable convertible preferred stock	552,551		389,811
Net income (loss) attributable to common stockholders	$	(497,934)	$	(3,299,527)