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Convertible Preferred Stock
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Convertible Preferred Stock

6. CONVERTIBLE PREFERRED STOCK

 

At December 31, 2020 and 2019, the Company has 5,589,647 shares of Series a Preferred Stock outstanding. Each share of Series A Preferred Stock has a liquidation preference in the event of liquidation of the Company of $0.001 per share before any payment of distribution is made to the holders of common stock. Each Series A Preferred share can be converted into common stock in the ration of 15:1.