Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.20.1
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Financial Instrument   Fair Value     Valuation technique   Significant Unobservable inputs
Convertible notes receivable   $ 837,317     Monte Carlo Simulation   Probability of conversion and interest rates on comparable financial instruments
                 
Investment in warrants   $ 67,000     Black-Scholes Option Pricing Model   Common Stock volatility and discount
Fair Value Option, Disclosures [Table Text Block]
    Issuance date     December 31, 2018  
Risk-free interest rate     2.41% - 2.47 %     2.41 %
Probability of conversion into equity     50% - 90 %     90 %
Expected volatility     91.95 %     91.95 %
Term     .09 - .59 years       .09 year  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
    Issuance dates     December 31,
2018
 
Risk-free interest rate     2.47 %     2.41 %
Expected dividend yield     0 %     0 %
Expected volatility     91.95 %     91.95 %
Term     5 years       5 years  
Fair value of common stock   $ 0.3275     $ 0.16  
Fair Value Measurements, Nonrecurring [Table Text Block]
    Quoted prices in
active markets
for identical
assets
(Level 1)
    Significant other
observable inputs
(Level 2)
    Significant
unobservable
inputs
(Level 3)
 
Financial assets:                  
                   
Convertible notes receivable   $          -     $          -     $ 837,317  
                         
Investment in warrants   $ -     $ -     $ 67,000  
                         
Total   $ -     $ -     $ 904,317  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
    Year ended
December 31,
2019
 
Convertible notes receivable, December 31, 2018   $ 837,317  
Notes issued (face value $215,000), at fair value     196,000  
Increase in fair value     372,282  
Conversion of notes into common stock     (1,405,599 )
Investment in notes receivable, December 31, 2019   $ -  
Summary of the changes in the Company's investment in warrants [Table Text Block]
    Year ended
December 31,
2019
 
Investment in warrants, December 31, 2018   $ 67,000  
Warrants issued to the Company     19,000  
Increase in fair value     55,000  
Conversion of warrants into common stock     (141,000 )
Investment in warrants, December 31, 2019   $ -