Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments

Financial instruments measured at fair value during the year consisted of the following as of December 31, 2020 and 2019:

	Year Ended December 31, 2020
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Long-term debt:
12% Amended Senior Secured Notes	$	52,556,401	$	-	$	52,556,401	$	-
Warrant derivative liabilities:
Strome Warrants	$	704,707	$	-	$	-	$	704,707
B. Riley Warrants		443,188		-		-		443,188
Total warrant derivative liabilities	$	1,147,895	$	-	$	-	$	1,147,895

	Year Ended December 31, 2019
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Long-term debt:
12% Amended Senior Secured Notes	$	44,009,745	$	-	$	44,009,745	$	-
Warrant derivative liabilities:
Strome Warrants	$	1,036,687	$	-	$	-	$	1,036,687
B. Riley Warrants		607,513		-		-		607,513
Total warrant derivative liabilities	$	1,644,200	$	-	$	-	$	1,644,200
Embedded derivative liabilities	$	13,501,000	$	-	$	-	$	13,501,000

Schedule of Valuation Activity for Warrants Accounted for Derivative Liability

The following table represents the carrying amount, valuation and roll-forward of activity for the Company’s warrants accounted for as a derivative liability and classified within Level 3 of the fair-value hierarchy as of and for the years ended December 31, 2020 and 2019:

	December 31,
	2020			2019
Carrying amount at beginning of year:
L2 Warrants	$	-		$	418,214
Strome Warrants		1,036,687			587,971
B. Riley Warrants		607,513			358,050
Subtotal carrying amount at beginning of year		1,644,200			1,364,235
Change in valuation of warrant derivative liabilities:
L2 Warrants		-			316,972
Strome Warrants		(331,980	)		448,716
B. Riley Warrants		(164,325	)		249,463
Subtotal change in valuation during the year		(496,305	)		1,015,151
Exercise of warrants during the year:
L2 Warrants		-			735,186
Carrying amount at end of year:
Strome Warrants		704,707			1,036,687
B. Riley Warrants		443,188			607,513
Carrying amount at end of year	$	1,147,895		$	1,644,200

Schedule of Valuation Activity for the Embedded Conversion Feature Liability

The following table represents the carrying amount, valuation and a roll-forward of activity for the conversion option features, buy-in features, and default remedy features, as deemed appropriate for each instrument (collectively the embedded derivative liabilities), for the 12% Convertible Debentures (refer to Note 18) accounted for as embedded derivative liabilities and classified within Level 3 of the fair-value hierarchy as of and for the years ended December 31, 2020 and 2019:

	December 31,
	2020			2019
Recognition of embedded derivative liabilities (conversion feature, buy-in feature, and default remedy feature):
Carrying amount at beginning of year	$	13,501,000		$	7,387,000
Issuance date of March 18, 2019		-			822,000
Issuance date of March 27, 2019		-			188,000
Issuance date of April 8, 2019		-			64,000
Change in fair value of embedded derivative liabilities		(2,571,004	)		5,040,000
Fair value of embedded derivative liabilities recorded within additional paid-capital upon conversion of 12% convertible debentures		(10,929,996	)		-
Carrying amount at end of year	$	-		$	13,501,000