PREFERRED STOCK AND DETACHABLE WARRANTS (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Summary of temporary equity

The following table represents the activity related to the Series B Preferred Stock, classified as Temporary Equity on the accompanying unaudited consolidated balance sheet, during the nine months ended September 30, 2020 and 2019:

	2020		2019
Balance at beginning of period	$	11,006,406	$	8,900,208
Plus: discount accretion	854,364		1,031,483
Plus: dividends in kind	547,349		510,502
Balance at end of period	$	12,408,119	$	10,442,193

The following table represents the activity related to the Series B1 Preferred Stock, classified as Temporary Equity on the accompanying unaudited consolidated balance sheet, for the nine months ended September 30, 2020 and 2019:

	2020		2019
Balance at beginning of period	$	12,743,047	$	13,279,755
Less: conversions of shares to common	(3,368,474)		(119,768)
Plus: discount accretion	646,031		582,649
Plus: dividends in kind	546,557		712,185
Balance at end of period	$	10,567,161	$	14,454,821

Schedule of liabilities with unobservable inputs

The following is an analysis of changes in the derivative liability for the nine months ended June 30:

Level Three Roll-Forward
	2020		2019
Balance at beginning of period	$	1,969,216	$	1,481,692
Change in valuation of warrants	(1,844,369)		(331,715)
Balance at end of period	$	124,847	$	1,149,977