Significant Accounting Policies (Tables)
|
9 Months Ended |
Sep. 30, 2020 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Marketable Securities |
| |
|
Quoted Prices in Active
Markets for Identical Assets
or Liabilities
(Level 1) |
|
|
Quoted Prices for
Similar Assets or
Liabilities in Active
Markets
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
| Fixed Income Bonds at September 30, 2020 |
|
$ |
6,929,356 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Fixed Income Bonds at December 31, 2019 |
|
$ |
9,164,273 |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Operating Lease |
The Company’s operating lease is comprised
solely of the lease of its Thorofare Facility. Condensed Consolidated Balance Sheet information related to its lease is presented
below:
| Balance Sheet Location |
|
September 30, 2020 |
|
|
January 1, 2020 |
|
|
December 31, 2019 |
|
| |
|
|
|
|
|
|
|
|
|
| Operating Lease |
|
|
|
|
|
|
|
|
|
|
|
|
| Right-of-use asset |
|
$ |
40,469 |
|
|
$ |
306,706 |
|
|
$ |
- |
|
| Liability, current |
|
|
40,506 |
|
|
|
143,018 |
|
|
|
- |
|
| Liability, net of current |
|
$ |
- |
|
|
$ |
163,688 |
|
|
|
- |
|
|
| Schedule of Lease Expense |
The following provides details of the Company’s
lease expense, including CAM charges:
| |
|
Three months ended
September 30, 2020 |
|
|
Nine months ended
September 30, 2020 |
|
| |
|
|
|
|
|
|
| Lease cost |
|
|
|
|
|
|
|
|
| Operating lease |
|
$ |
41,148 |
|
|
$ |
124,222 |
|
|
| Schedule of Other Information Related to Leases |
Other information related to leases is presented
below:
| Other information |
|
As of
September 30, 2020 |
|
| |
|
|
|
| Operating cash used by operating leases |
|
$ |
124,184 |
|
| Weighted-average remaining lease term – operating leases (in months) |
|
|
3 |
|
| Weighted-average discount rate – operating leases |
|
|
10.00 |
% |
|
| Schedule of Operating Lease Liabilities |
As of September 30, 2020, the annual minimum
lease payments of the Company’s operating lease liabilities were as follows:
| For Years Ending December 31, |
|
Operating leases |
|
| |
|
|
|
| 2020 (excluding the nine months ended September 30, 2020) |
|
$ |
41,146 |
|
| Total future minimum lease payments, undiscounted |
|
$ |
41,146 |
|
| Less: Imputed interest |
|
|
(640 |
) |
| Present value of future minimum lease payments |
|
$ |
40,506 |
|
|
| Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share |
The following securities are excluded from
the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:
| |
|
For the Nine Months Ended
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
| Stock Options |
|
|
- |
|
|
|
40 |
|
| Unvested RSUs |
|
|
789,360 |
|
|
|
15,603 |
|
| Warrants to purchase common stock |
|
|
514,516 |
|
|
|
88,015 |
|
| Series D Preferred Convertible Stock |
|
|
72,992 |
|
|
|
- |
|
| Warrants to purchase Series C Preferred stock |
|
|
55,000 |
|
|
|
- |
|
| Total potentially dilutive shares |
|
|
1,431,868 |
|
|
|
103,658 |
|
|