PREFERRED STOCK AND DETACHABLE WARRANTS (Tables)

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2021 and 2020:

	2021		2020
Balance at beginning of period	$	12,718,339	$	11,006,406
Less: conversions of shares to common	(8,446,837)		—
Less: exchanges of shares to common	(4,747,250)		—
Plus: discount accretion	—		854,364
Plus: dividends in kind	475,748		547,349
Balance at end of period	$	—	$	12,408,119

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, 2021 and 2020:

	2021		2020
Balance at beginning of period	$	11,036,173	$	12,743,047
Less: conversions of shares to common	(12,046,441)		(3,368,474)
Plus: discount accretion	507,282		646,031
Plus: dividends in kind	502,986		546,557
Balance at end of period	$	—	$	10,567,161

Schedule of liabilities with unobservable inputs

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

Level Three Roll-Forward
	2021		2020
Balance at beginning of period	$	330,412	$	1,969,216
Value of warrants exercised	(10,637,914)		—
Change in valuation of warrants	11,380,122		(1,844,369)
Balance at end of period	$	1,072,620	$	124,847