Note Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value Measurement Inputs and Valuation Techniques

As of December 31, 2019, the Company held an investment in a convertible note which carried simple interest of 6.00% per annum. The fair value of this investment (which was considered a Level 3 investment) was $7,533,000, and was valued using the Binomial Lattice Model, which was based on a generalized binomial option pricing formula, using the following assumptions:

	December 31, 2019
Risk free rate	1.58% – 2.46%
Equity Volatility *	58% – 106%
Market Yield	15% – 18%
Probability of Qualified Financing	0%
Probability of Sale	30%
Probability of No Event	70%

* Management estimated that market interest rates on similar borrowings without the conversion feature to be approximately 18% and used an implied volatility of 58% in measuring the fair value of the convertible note.

Notes Receivable [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value Measurement Inputs and Valuation Techniques

For the year ended December 31, 2019, the Company used the Black Scholes option pricing model to estimate the fair value of the note receivable. The following represents the significant assumptions used in that valuation:

	2019
Risk-free Rate	1.90%
Exercise Price of Underlying Securities	$1.998
Share Price of Underlying Security	1.90
Volatility	71.50%
Remaining Life (in years)	1.0