Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.21.2
Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
Schedule of Marketable Securities

Marketable Securities: Valued using quoted prices in active markets for identical assets.

   

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)

  
Marketable securities at June 30, 2021   $ 19,503,001     $ -     $ -  
                         
Marketable securities at December 31, 2020   $ -     $ -     $ -  
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 Three Months Ended
June 30,		     For the Six Months Ended
June 30,		  
    2021     2020     2021     2020  
Stock Options     4,188,315       3,113,490       4,188,315       3,113,490  
Warrants to purchase common stock     5,363,547       -       5,363,547       -  
Pre-funded Warrants to purchase common stock     520,270       -       520,270       -  
Series D Preferred Convertible Stock     36,496       -       36,496       -  
Warrants to purchase Series C Preferred stock     27,500       -       27,500       -  
Total potentially dilutive shares     10,136,128       3,113,490       10,136,128       3,113,490  
Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease

The Company’s operating leases are comprised of the Supera Aviation, the Hyde Park and the N Wolfe St. Condensed Consolidated Balance Sheet information related to its leases are presented below:

 

    Supera     Hydd     N Wolfe           Supera     Hydd     N Wolfe        
    As of June 30, 2021     As of December 31, 2020  
    Supera     Hyde     N Wolfe           Supera     Hyde     N Wolfe        
Balance Sheet Location   Aviation     Park     Street     Total     Aviation     Park     Street     Total  
Operating Leases                                                                
Lease Right of Use   $ -     $ 23,721     $ 51,151     $ 74,872     $ 431,809     $ 34,722     $ 60,664     $ 527,195  
Lease Payable, current     -       23,737       25,785       49,522       431,809       25,120       24,120       481,049  
Lease Payable - net of current     -       -       25,851       25,851       -       9,704       36,665       46,369  
Schedule of Lease Cost

The following provides details of the Company’s lease expense:

 

    Supera     Hydd     N Wolfe           Supera     Hydd     N Wolfe        
    Three Months Ended June 30, 2021     Six Months Ended June 30, 2021  
    Supera     Hyde     N Wolfe           Supera     Hyde     N Wolfe        
Lease Expenses   Aviation     Park     Street     Total     Aviation     Park     Street     Total  
Operating Leases                                                                
Lease Costs   $ -     $ 6,257     $ 6,182     $ 12,439     $ 150,000     $ 12,513     $ 12,364     $ 174,877  
Schedule of Other Information Related to Leases

Other information related to leases is presented below:

 

    As of June 30, 2021  
    Supera     Hyde     N Wolfe        
Other Information   Aviation     Park     Street     Total  
Operating Leases                                
Operating cash used   $ 150,000     $ 12,877     $ 13,000     $ 175,877  
Weighted-average remaining lease term     -       12       29       21  
Weighted-average discount rate     10.0 %     10.0 %     10.0 %     10.0 %
Schedule of Operating Lease Minimum Lease Payments

As of June 30, 2021, the annual minimum lease payments of the Company’s operating lease liabilities were as follows:

  

    Supera     Hydd     N Wolfe        
    As of June 30, 2021  
    Supera     Hyde     N Wolfe        
    Aviation     Park     Street     Total  
For Years Ending June 30,                        
2022   $ -     $ 25,042     $ 24,480     $ 49,522  
2023     -       -       25,214       25,214  
2024     -       -       8,487       8,487  
Total future minimum lease payments, undiscounted   $ -     $ 25,042     $ 58,181     $ 83,223  
Less: Imputed interest     -       1,305       6,545       7,850  
Present value of future minimum lease payments   $ -     $ 23,737     $ 51,636     $ 75,373