NOTES PAYABLE (Tables)

3 Months Ended

Mar. 31, 2021

Class of Warrant or Right [Line Items]

Schedule of notes payable

	March 31,		December 31,
	2021		2020
2020 10% Notes	$	4,260,000	$	2,600,000
2019 15% Notes		—		200,000
Related party note payable		340,000		340,000
Unamortized debt discount		(1,029,965)		(251,456)
		3,570,035		2,888,544
Less: Current portion		—		—
Long-term portion	$	3,570,035	$	2,888,544

10% Warrants

Class of Warrant or Right [Line Items]

Summary of underlying assumptions used in the binomial lattice model to determine the fair value of Warrants

For purposes of determining the debt discount, the underlying assumptions used in the binomial lattice model to determine the fair value of the 10% Warrants as of December 23, 2020, were:

Current stock price	$	0.53
Exercise price	$	0.56
Risk-free interest rate		0.38 %
Expected dividend yield		—
Expected term (in years)		5.0
Expected volatility		115%

For purposes of determining the debt discount, the underlying assumptions used in the binomial lattice model to determine the fair value of the 10% Warrants as of February 8, 2021, were:

Current stock price	$	1.12
Exercise price	$	0.56
Risk-free interest rate		0.48 %
Expected dividend yield		—
Expected term (in years)		5.0
Expected volatility		118%

15% Warrants

Class of Warrant or Right [Line Items]

Summary of underlying assumptions used in the binomial lattice model to determine the fair value of Warrants

Current stock price	$	0.45 - 0.67
Exercise price	$	0.45
Risk-free interest rate		0.68 - 1.62 %
Expected dividend yield		—
Expected term (in years)		0.83 - 3.06
Expected volatility		112 - 119 %