Subsequent Events

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

12. SUBSEQUENT EVENTS

In April 2020, the company received $10,500 from a non-affiliate individual for the exercise of a warrant for 150,000 shares of the company's common stock.

In April 2020, the company received $63,000 from a non-affiliate individual for the exercise of an option for 900,000 shares of the company's common stock.

In April 2020, the company received $532,000 from three non-affiliate individuals for subscription agreements to purchase the company's common stock for $0.30 a share.

Effective March 4, 2020, Applied Energetics, Inc. entered into the Phase I Small Business Technology Transfer (STTR) contract referred to in its prior Current Report on Form 8-K filed on January 6, 2020 with the United States Army. The contract is for the development of Standoff Electronic Denial systems. Phase I is to be completed within the first 90 days. The company will collaborate with the Laser Plasma Laboratory (LPL) at the University of Central Florida (UCF) in performing its research under the contract. The total contract amount for Phase I is $165,920. On April 20, 2020, we received $66,367.91 based on this contract with the Army.

On April 28, 2020, we received proceeds from a Small Business Administration Paycheck Protection Program loan of $132,760.00.

The company's management has evaluated subsequent events occurring after March 31, 2020, the date of our most recent balance sheet, through the date our financial statements were issued.