Stockholders Equity and StockBased Compensation (Details Narrative) - USD ($)
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1 Months Ended |
3 Months Ended |
9 Months Ended |
12 Months Ended |
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Feb. 06, 2017 |
Aug. 02, 2016 |
Aug. 31, 2020 |
May 15, 2020 |
Feb. 10, 2020 |
Oct. 08, 2019 |
Apr. 16, 2019 |
May 31, 2018 |
Jan. 30, 2018 |
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
Dec. 31, 2019 |
Mar. 09, 2020 |
May 31, 2017 |
Mar. 25, 2015 |
Common stock, shares, outstanding |
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4,416,961
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4,416,961
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3,252,371
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Common stock, conversion basis |
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The Series B Preferred Stock was initially convertible into 2,666,667 shares of common stock (now convertible into 222,222 shares of common stock when adjusted for the one-for-twelve reverse stock split on October 21, 2019).
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Class of Warrant or Right, Outstanding |
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70,361
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70,361
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70,361
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Preferred stock, conversion description |
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The Company has the option of forcing the conversion of all or part of the Series B Preferred Stock if at any time the average closing price of the Company's common stock for a thirty-trading day period is greater than $65.88 prior to August 2, 2019 or greater than $98.82 at any time. The Company can exercise this option only if it also requires the conversion of the Series A Preferred Stock in the same proportion as it is requiring of the Series B Preferred Stock.
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Stock options outstanding |
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515,985
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515,985
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518,551
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Total stock and stock equivalents outstanding |
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5,350,009
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5,350,009
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4,175,164
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Accumulated dividend (unpaid) |
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$ 800,000
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$ 600,000
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Number of Awards Stock option outstanding |
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515,985
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515,985
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518,551
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Number of Awards Vested |
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466,259
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466,259
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433,678
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Number of options vested and expected to vest outstanding |
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48,000
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48,000
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Weighted average recognition period |
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1 year 8 months 27 days
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Aggregate intrinsic value |
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$ 28,000
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$ 28,000
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$ 59,000
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Preferred stock convertible amount |
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$ 6,200,000
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Common stock exercise price |
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$ 4.45
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Common stock, shares authorized |
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8,333,333
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8,333,333
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8,333,333
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Fair value per share |
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$ 14.60
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$ 14.60
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$ 15.89
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Shares issued to consultant |
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$ 17,000
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September 29, 2020 [Member] | ATM Agreement [Member] |
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Sale of stock, number of shares |
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109,500
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Proceeds from issuance of shares |
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$ 476,000
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Short-Term Non-Qualified Options [Member] | Employees, Consultants and Directors [Member] | December 2, 2019 [Member] |
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Fair value per share |
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$ 2.59
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$ 2.59
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Strike price |
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3.82
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$ 3.82
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Term of options granted, description |
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These options have a 10-year contractual term
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Shares issued to consultant |
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$ 7,634
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$ 4,247
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Expected Term |
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5 years
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Stock options granted, shares |
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86,982
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Short-Term Non-Qualified Options [Member] | Employees, Consultants and Directors [Member] | Maximum [Member] |
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Exercise price |
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355.80
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$ 355.80
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Short-Term Non-Qualified Options [Member] | Directors, Officers and Employees [Member] | Advisory board members[Member] |
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Non-qualified stock options granted |
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122,855
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Short-Term Non-Qualified Options [Member] | Directors, Officers and Employees [Member] | Maximum [Member] | Advisory board members[Member] |
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Exercise price |
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$ 3.82
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$ 3.82
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Contractual lives |
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9 years 4 months 24 days
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Term of options |
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10 years
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Short-Term Non-Qualified Options [Member] | Chief Executive Officer [Member] | Maximum [Member] | Advisory board members[Member] |
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Contractual lives |
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9 years 4 months 24 days
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Non-qualified stock options granted |
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393,130
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Non-qualified stock options outstanding |
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128,010
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Short-Term Non-Qualified Options [Member] | Chief Executive Officer [Member] | Minimum [Member] | Advisory board members[Member] |
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Contractual lives |
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5 months 30 days
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PIK dividend [Member] |
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Reverse stock split |
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One-for-twelve reverse stock split on October 21, 2019
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Total cumulative deemed dividend |
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$ 46,000
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$ 43,000
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$ 137,000
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$ 128,000
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BCF [Member] | PIK dividend [Member] |
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Exercise price |
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$ 18.00
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$ 18.00
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Common stock to be purchased in the offering |
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11,119
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11,119
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Monthly payments |
$ 15,000
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Introductory fee in percentage |
7.00%
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Warrants fees in percentage |
5.00%
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Offering price term |
3 years
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Consultants [Member] | Short-Term Non-Qualified Options [Member] | Maximum [Member] | Advisory board members[Member] |
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Exercise price |
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$ 1.50
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Maturity date |
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Jan. 30, 2021
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Consultants [Member] | Short-Term Non-Qualified Options [Member] | Minimum [Member] | Advisory board members[Member] |
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Exercise price |
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$ 331.80
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$ 331.80
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Term of options |
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10 years
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Contractual lives |
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5 months 30 days
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Series B Preferred Shares [Member] |
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Preferred stock convertible amount |
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$ 600,000
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Preferred stock, shares issued |
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2,666,667
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2,666,667
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2,666,667
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Conversion price |
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$ 32.94
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$ 32.94
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$ 32.94
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Preferred stock, liquidation preference |
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$ 4,813,284
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$ 4,813,284
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$ 4,569,180
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Preferred Stock, Shares Outstanding |
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2,666,667
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2,666,667
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2,666,667
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Series B Preferred Stock conversion description |
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This amount was compared to the $3.7 million (rounded) of proceeds allocated to the Series B Preferred Stock to indicate that a beneficial conversion feature ("BCF") of approximately $2.6 million existed at the date of issuance, which was immediately accreted as a deemed dividend because the conversion rights were immediately effective.
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Conversion of Stock, Shares Converted |
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757,770
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Common stock shares reserved for future issuance, Value |
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$ 222,222
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$ 222,222
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$ 222,222
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Additional common shares |
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45,182
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45,182
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31,621
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Common stock equivalents shares |
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5,350,009
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5,350,009
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4,175,164
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Accrued dividend |
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$ 813,285
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$ 813,285
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$ 569,181
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Series A Preferred Stock [Member] |
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Preferred stock, shares issued |
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712,126
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712,126
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757,770
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Preferred stock, liquidation preference |
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$ 2,600,000
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$ 2,600,000
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$ 2,600,000
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Preferred Stock, Shares Outstanding |
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712,126
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712,126
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757,770
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Accrete dividend |
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$ 2.7451
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$ 0.84
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$ 0.84
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Additional deemed dividend |
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$ 0.5699
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Common stock shares reserved for future issuance, Value |
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$ 59,344
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$ 59,344
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$ 63,148
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Accrued dividend |
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657,299
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657,299
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556,390
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Additional common share |
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19,954
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19,954
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16,890
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Total deemed dividends |
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$ 10,000
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$ 10,000
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28,000
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$ 28,000
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Series A Preferred Stock [Member] | Holder [Member] |
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Convertible preferred stock, shares converted |
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16,689
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17,080
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11,875
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28,107
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27,747
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Common stock, shares issued, conversion of preferred stock |
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1,846
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1,847
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1,255
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2,922
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2,782
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Series B Preferred Stock [Member] | Warrants [Member] |
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Proceeds from issuance of warrants |
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4,000,000
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Remaining value of warrant |
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300,000
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Allocated amount |
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$ 3,700,000
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Series B Preferred Stock [Member] | General International Holdings, Inc [Member] |
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Class of Warrant or Right, Outstanding |
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55,555
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Common stock exercise price |
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$ 22.50
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Rate of dividend payable in kind |
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7.00%
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Price per share |
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$ 1.50
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$ 28.08
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$ 28.08
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Conversion price |
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$ 18
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Proceeds from issuance of warrants |
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$ 4,000,000
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Retainer payment |
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$ 15,000
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Liquidation preference per share |
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$ 1.50
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Securities Purchase Agreement [Member] | Series A Preferred Stock [Member] |
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Common stock, shares, outstanding |
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255,000
|
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Common stock, conversion basis |
|
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|
The Series A Preferred Stock was initially convertible into 1,020,000 shares of common stock (now convertible into 85,000 common shares when adjusted for the one-for-twelve reverse stock split on October 21, 2019).
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Preferred stock convertible amount |
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$ 3,400,000
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Fair value per share |
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$ 39.78
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Common stock shares reserved for future issuance, Value |
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$ 2,800,000
|
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Preferred stock, shares issued |
|
1,020,000
|
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Rate of dividend payable in kind |
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7.00%
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Price per share |
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$ 2.75
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Number of shares reserved for future issuance |
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1,020,000
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Average market price of common stock |
|
$ 39.78
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Preferred stock, liquidation preference per share |
|
2.7451
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Conversion price |
|
32.94
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Securities Purchase Agreement [Member] | Series B Preferred Stock [Member] | Preferred Stock Equity Offerings [Member] |
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Fair value per share |
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3.315
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2.34
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$ 2.34
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Conversion price |
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$ 2.7451
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$ 1.50
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$ 1.50
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Reverse stock split |
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One-for-twelve reverse stock split on October 21, 2019
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Preferred stock, liquidation preference |
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$ 4,800,000
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$ 4,800,000
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$ 4,600,000
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Preferred Stock, Shares Outstanding |
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2,666,667
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2,666,667
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2,666,667
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Accumulated dividend |
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$ 800,000
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$ 800,000
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$ 600,000
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2020 Equity Incentive Plan [Member] |
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Common stock, shares authorized |
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350,000
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2019 and 2018 ATM Agreement [Member] |
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Sale of stock, number of shares |
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115,527
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508,063
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Proceeds from issuance of shares |
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$ 800,000
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$ 3,800,000
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2019 ATM Agreement [Member] |
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Sale of stock, number of shares |
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600,000
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1,100,000
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Proceeds from issuance of shares |
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$ 2,500,000
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$ 5,100,000
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New Atm Agreement [Member] |
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Aggregate offering price |
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$ 13,500,000
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2015 Equity Incentive Plan [Member] |
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Common stock, shares authorized |
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50,000
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Common stock, shares authorized increased |
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241,667
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116,667
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Investment Bank [Member] |
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Common shares issued under incentive plan |
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525,000
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