STOCKHOLDERS’ EQUITY (Details) - USD ($)
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1 Months Ended |
12 Months Ended |
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Jan. 19, 2021 |
Dec. 16, 2020 |
Dec. 08, 2020 |
Dec. 03, 2020 |
Nov. 03, 2020 |
Sep. 09, 2020 |
Aug. 14, 2020 |
Jun. 03, 2020 |
May 06, 2020 |
Dec. 15, 2019 |
Sep. 27, 2019 |
Jan. 25, 2021 |
Jan. 17, 2020 |
Nov. 27, 2019 |
Oct. 30, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Jan. 31, 2021 |
Nov. 12, 2020 |
Sep. 28, 2018 |
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Preferred stock, authorized |
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5,000,000
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10,000,000
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Preferred stock, par value (in Dollars per share) |
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$ 0.0001
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$ 0.0001
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Preferred stock, shares Issued |
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Preferred stock, shares outstanding |
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Conversion of aggregate of shares |
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979,361
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Aggregate of shares |
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195,881
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Aggregate of shares |
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15,093
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Certificate of designation series A preferred stock |
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5,000,000
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Percentage purchase price |
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25.00%
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Purchase price (in Dollars) |
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$ 6.00
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Effective interest rate |
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25.00%
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Effective conversion price (in Dollars) |
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$ 6.00
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Stockholder debt term |
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1 year
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Percentage of premium |
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25.00%
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Reverse stock split, description |
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the Board of Directors of the Company approved a one-for-three reverse stock split of the Company’s authorized
and outstanding common stock, effective November 13, 2020 (the “Reverse Stock Split”).
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All share and per share amounts in the consolidated financial statements
and related notes have been retrospectively adjusted to reflect the Exchange Ratio in connection with the Acquisition.
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Common stock, authorized |
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116,666,667
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116,666,667
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Common stock, par value (in Dollars per share) |
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$ 0.0001
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$ 0.0001
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Price per share (in Dollars per share) |
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$ 5.58
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Purchase price per share (in Dollars per share) |
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$ 6.00
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Amount of shares to purchase by stock option (in Dollars) |
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$ 26,762,000
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Stock options to purchase |
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568,006
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225,001
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Stock options exercise price (in Dollars per share) |
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$ 7.39
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$ 9.75
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Restricted stock purchase |
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1,000,000
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2018 Equity Incentive Plan [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Common stock reserved for issuance |
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3,333,334
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Investor [Member] | Securities Purchase Agreement [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Number of shares issued |
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253,600
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206,000
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Gross proceeds from initial closing (in Dollars) |
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$ 6,065,000
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Net proceeds from second closing (in Dollars) |
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$ 515,000
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Net proceeds from third closing (in Dollars) |
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$ 634,000
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Investor [Member] | Registration Rights Agreement [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Description of liquidated damages payable |
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The amount of liquidated damages payable to an Investor is 1.0% of the aggregate amount invested by such Investor
for each 30-day period, or pro rata portion thereof, during which the default continues. To date the Company has paid $60,650
and accrued $19,053 in liquidated damages.
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Placement Agent [Member] | Securities Purchase Agreement [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Aggregate cash fee (in Dollars) |
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$ 721,400
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Percentage of gross proceeds |
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10.00%
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Reimbursement of transaction expenses (in Dollars) |
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$ 40,000
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Number of warrants to purchase |
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288,560
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Securities Purchase Agreement [Member] | Placement Agent [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Warrants exercise price (in Dollars per share) |
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$ 3.25
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Energy Capital [Member] | Loan And Security Agreement [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Debt principal and interest outstanding amount (in Dollars) |
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$ 10,563,104
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Number of equity instruments convertible |
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1,408,414
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Convertible Preferred Stock [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Preferred stock, shares outstanding |
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2,350,390
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Conversion of aggregate of shares |
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979,361
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Aggregate of shares |
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195,881
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Aggregate of shares |
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15,093
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Convertible Notes Payable [Member] | Other Financing Agreements [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Debt principal and interest outstanding amount (in Dollars) |
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$ 3,933,767
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Number of equity instruments convertible |
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524,505
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Preferred Stock [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Preferred stock, authorized |
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10,000,000
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Preferred stock, par value (in Dollars per share) |
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$ 0.0001
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Preferred stock, shares Issued |
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5,000,000
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Preferred stock, shares outstanding |
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5,000,000
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Common Stock [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Common stock, authorized |
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116,666,667
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Common stock outstanding |
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19,796,029
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Common stock, par value (in Dollars per share) |
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$ 0.0001
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Number of shares issued |
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120,000
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120,000
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Common Stock [Member] | Individual Lender [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Number of shares issued |
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46,893
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Warrant [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Number of warrants to purchase |
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231,543
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Warrants exercise price (in Dollars per share) |
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$ 7.50
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$ 9.75
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$ 9.75
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$ 9.75
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Description of warrant rights |
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On
May 6, 2020, the Company’s Board granted (i) an aggregate of 47,917 Warrants with an exercise price of $7.50 per share and
a grant date fair value of $1.00 per share, and (ii) an aggregate of 9,793 Warrants with an exercise price of $6.39 per share
and a grant date fair value of $1.71 per share.
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Warrant fair value (in Dollars per share) |
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$ 1.00
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$ 1.03
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$ 1.05
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Stock options to purchase |
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231,543
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Expected weighted average vesting period |
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5 years
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3 years
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Warrants to purchase shares |
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1,498,603
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50,726
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41,206
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Warrant [Member] | Minimum [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Warrant fair value (in Dollars per share) |
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$ 1.40
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Warrant [Member] | Maximum [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Warrant fair value (in Dollars per share) |
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$ 2.37
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Warrant [Member] | Securities Purchase Agreement [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Number of warrants to purchase |
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1,879,803
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Warrants exercise price (in Dollars per share) |
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$ 9.16
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Weighted-average contractual remaining life |
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2 years 2 months 12 days
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Warrant [Member] | Securities Purchase Agreement [Member] | Minimum [Member] |
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STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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Warrants exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
$ 0.03
|
|
|
|
|
|
Warrant [Member] | Securities Purchase Agreement [Member] | Maximum [Member] |
|
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|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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|
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|
|
|
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|
|
|
|
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|
Warrants exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
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|
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|
|
$ 9.75
|
|
|
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|
Warrant [Member] | Individual Lender [Member] |
|
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|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
$ 0.03
|
|
|
|
|
|
|
|
|
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|
Warrant fair value (in Dollars per share) |
|
|
|
|
|
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|
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|
$ 7.47
|
|
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|
|
|
|
|
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|
Warrants to purchase shares |
|
|
|
|
|
|
|
|
|
|
46,893
|
|
|
|
|
|
|
|
|
|
|
Equity Option [Member] |
|
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|
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|
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|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
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|
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|
Agreement, description |
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|
On
September 27, 2019, pursuant to the terms of Severance Agreements, 225,001 incentive stock options with deferred distribution
were promised to two former employees of the Company pursuant to the 2018 Plan (both employees participated in the restricted
stock purchase offers (“RSUs”) discussed below).
|
|
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|
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|
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|
Stock options to purchase |
|
|
|
|
|
|
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|
499,674
|
|
|
|
6,542
|
|
|
|
|
|
|
|
|
Stock-based compensation expense (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 514,866
|
|
|
|
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|
Options term |
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|
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|
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|
10 years
|
|
|
10 years
|
5 years
|
|
|
|
|
|
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|
Stock options exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
$ 6.39
|
|
|
|
$ 7.50
|
|
|
|
|
|
|
|
|
Weighted average grant-date fair value (in Dollars per share) |
|
|
|
|
|
|
|
|
$ 2.25
|
|
|
|
$ 2.37
|
|
|
|
|
|
|
|
|
Stock compensation expense (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,397,000
|
$ 435,000
|
|
|
|
|
Unrecognized compensation expense (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
$ 233,000
|
|
|
|
|
|
Weighted-average contractual remaining life |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year 3 months 18 days
|
|
|
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|
|
Subsequent Event [Member] |
|
|
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|
|
|
|
|
|
|
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|
|
|
|
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|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 9.75
|
|
|
Warrants to purchase shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96,269
|
|
|
Subsequent Event [Member] | Equity Option [Member] |
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Stock options to purchase |
|
|
|
|
|
|
|
|
|
|
|
90,000
|
|
|
|
|
|
|
|
|
|
Stock options exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
|
$ 12.72
|
|
|
|
|
|
|
|
|
|
Weighted average grant-date fair value (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
|
$ 5.72
|
|
|
|
|
|
|
|
|
|
Securities Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
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|
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|
|
|
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|
|
|
|
Agreement, description |
|
|
|
|
|
|
the Company entered into securities purchase agreements (the “2020 Purchase Agreements”) with certain
purchasers (the “2020 Investors”), which provided for the sale of an aggregate of $4,435,000 ($4,483,749 after payment
of offering expenses) and the exchange for debt of $265,779 of the Company’s Series A Convertible Preferred Stock (the “Series
A Preferred”) at a purchase price of $2.00 per share (the “Purchase Price”) (the “Offering”). On
August 14, 2020 and August 27, 2020, pursuant to the 2020 Purchase Agreements, the Company issued an aggregate of 2,350,390 shares
of Series A Preferred to the Investors (collectively the “2020 Closing”). In connection with the 2020 Closing, Eric
Brock, the Company’s Chief Executive Officer purchased 157,500 shares of Series A Preferred.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities Purchase Agreement [Member] | Investor [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued |
|
|
|
|
|
|
|
|
|
|
2,426,000
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average contractual remaining life |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year 3 months
|
|
|
|
|
|
Weighted average grant-date fair value (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0.64
|
|
|
|
Stock compensation expense (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 3,150,000
|
|
|
|
|
|
Unrecognized compensation expense (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 5,250,000
|
|
|
|
|
|
Restricted stock purchase |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
126,160
|
|
|
|
Shares options issued non-vested |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
625,000
|
|
|
|
|
|
Weighted average grant-date fair value of exercise price (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 8.40
|
|
|
|
|
|
Vesting period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 years
|
|
2 years
|
|
|
|
Restricted stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
136,161
|
|
|
|
Expenses of stock (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
71,789
|
|
|
|
|
Restricted Stock Units (RSUs) [Member] | Subsequent Event [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of restricted stock units |
Effective January 19, 2021, (i) Mr.
Bushey will have the right to receive 500,000 RSU Shares (375,000 RSU Shares vested as of December 31, 2020 and 125,000 RSU Shares
on which the Compensation Committee accelerated vesting), which RSU Shares will be issued on June 3, 2022 pursuant to Mr. Bushey’s
deferral election, and (ii) 500,000 RSU shares will be canceled.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Public Offering [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
shares issued |
|
|
|
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, par value (in Dollars per share) |
|
|
|
$ 0.0001
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Over-Allotment Option [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued |
|
750,000
|
|
750,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of units (in Dollars) |
|
$ 4,200,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Over-Allotment Option [Member] | Investor [Member] | Securities Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued |
|
|
|
|
|
|
|
|
|
|
400,000
|
|
|
|
|
|
|
|
|
|
|
Purchase price per share (in Dollars per share) |
|
|
|
|
|
|
|
|
|
|
$ 2.50
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of units (in Dollars) |
|
|
|
|
|
|
|
|
|
|
$ 12,500,000
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of additional units (in Dollars) |
|
|
|
|
|
|
|
|
|
|
$ 2,500,000
|
|
|
|
|
|
|
|
|
|
|
Description of transaction |
|
|
|
|
|
|
|
|
|
|
Each Unit consists of one share of Common Stock and one-half of one warrant
to purchase one share of Common Stock at an exercise price of $3.25 per share for a period commencing six months and ending 36
months after the closing date (the “Investor Warrants”).
|
|
|
|
|
|
|
|
|
|
|
Gross proceeds from initial closing (in Dollars) |
|
|
|
|
|
|
|
|
|
|
$ 1,000,000
|
|
|
|
|
|
|
|
|
|
|
Consultant [Member] | Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY (Details) [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock compensation expense (in Dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 30,357
|
$ 50,599
|
|
|
|
|