XML 60 R49.htm IDEA: XBRL DOCUMENT v3.21.2
Convertible Notes Payable (Details) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Feb. 29, 2020
Feb. 14, 2020
Mar. 31, 2021
Jun. 30, 2021
Dec. 13, 2019
Convertible Notes Payable (Details) [Line Items]          
Interest rate   15.00%      
Notes maturity date       Nov. 30, 2021  
Amendment agreement, description In February 2020, the Company and the holders of the 8% Notes entered into an amendment agreement pursuant to which the principal and interest due under the 8% Notes will remain due and payable on the same terms as exist in the 8% Notes prior to modification, that the maturity shall be extended to the same maturity date as the 2020 Notes, namely February 28, 2022, and the 8% Notes became a secured obligation of the Company.      the Company, entered into Securities Purchase Agreements with several accredited investors (the “2020 Note Investors”) providing for the sale by the Company to the 2020 Note Investors of 15% Senior Secured Convertible Notes in the aggregate amount of $1,510,000 (the “2020 Notes”). Philip D. Beck, Chief Executive Officer and Chairman of the Board, invested $50,000 in consideration of a 2020 Note in the principal amount of $50,000 paid by a deduction from his salary. Theodore Stern, a director of the Company, invested $50,000 in consideration of a 2020 Note in the principal amount of $50,000. Herbert Selzer, a director of the Company invested $100,000 in consideration of a 2020 Note in the principal amount of $100,000. Mr. Selzer provided $50,000 on the closing date and provided the balance of the funding in April 2020.The 2020 Notes mature February 28, 2022 and are a secured obligation of the Company. At the option of the 2020 Note Investors, they may at any time convert the 2020 Notes. The number of shares delivered shall be equal to 150% of the amount of the principal converted divided by the conversion price of $6.00 per share. The Company may require that the 2020 Note Investors convert all or a portion of the 2020 Notes, if the Company’s volume weighted average price for any preceding 20-day period is equal to or greater than $9.00. In connection with this private offering, the Company paid Network 1 Financial Securities, Inc., a registered broker-dealer, a cash fee of approximately $104,800. During the first quarter of 2021, convertible notes totaling $120,000 and a portion of their accrued interest at the option of the noteholders were converted into approximately 33,000 shares of common stock of the Company. Additionally, during the six months ended June 30, 2021, the Company received conversion notices from (i) the Stern Trust converting the principal amount, repayment premium and interest in the amount of approximately $3.5 million payable under the Restated Stern Note into approximately 561,000 shares of common stock, (ii) the 8% Note Investors converting principal and interest in the amount of approximately $0.4 million into approximately 180,000 shares of common stock and (iii) the 2020 Note Investors converting principal, repayment premium and interest in the amount of approximately $2.5 million into approximately 398,000 shares of common stock.  
Aggregate amount   $ 1,510,000      
Required to pay       150.00%  
Conversion price per share (in Dollars per share)       $ 6.00  
Cash fee of approximately       $ 104,800  
Conversion of stock, shares converted (in Shares)     33,000    
Interest payable       3,500,000  
Investors converting principal and interest       400,000  
Interest amount       700,000  
Indebtedness amount       6,100,000  
Aggregate shares of common stock       $ 1,138,000  
Investor [Member]          
Convertible Notes Payable (Details) [Line Items]          
Interest rate         8.00%
Convertible notes aggregate amount         $ 428,000
Philip D. Beck [Member]          
Convertible Notes Payable (Details) [Line Items]          
Consideration amount   50,000      
Principal amount   50,000      
Theodore Stern [Member]          
Convertible Notes Payable (Details) [Line Items]          
Consideration amount   50,000      
Principal amount   50,000      
Herbert Selzer [Member]          
Convertible Notes Payable (Details) [Line Items]          
Consideration amount   100,000      
Principal amount   100,000      
Mr. Selzer [Member]          
Convertible Notes Payable (Details) [Line Items]          
Principal amount   $ 50,000      
Convertible Debt [Member]          
Convertible Notes Payable (Details) [Line Items]          
Convertible notes aggregate amount     $ 120,000    
Common Stock [Member]          
Convertible Notes Payable (Details) [Line Items]          
Shares of common stock (in Shares)       561,000  
Shares of common stock (in Shares)       180,000