PREFERRED STOCK AND DETACHABLE WARRANTS (Tables)

3 Months Ended

Mar. 31, 2021

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 three months ended March 31, 2021 and 2020:

	2021		2020
Balance at beginning of period	$	12,718,339	$	11,006,406
Less: conversions of shares to common	(1,978,494)		—
Less: exchanges of shares to common	(4,747,250)		—
Plus: discount accretion	—		413,889
Plus: dividends in kind	317,970		177,921
Balance at end of period	$	6,310,565	$	11,598,216

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 three months ended March 31, 2021 and 2020:

	2021		2020
Balance at beginning of period	$	11,036,173	$	12,743,047
Less: conversions of shares to common	(3,256,024)		(3,368,474)
Plus: discount accretion	223,727		518,114
Plus: dividends in kind	288,594		211,269
Balance at end of period	$	8,292,470	$	10,103,956

Schedule of liabilities with unobservable inputs

The following is an analysis of changes in the derivative liability for the three months ended March 31:

Level Three Roll-Forward
	2021		2020
Balance at beginning of period	$	330,412	$	1,969,216
Value of warrants exercised	(1,105,935)		—
Change in valuation of warrants	1,780,203		(1,698,747)
Balance at end of period	$	1,004,680	$	270,469