• Filing Date: 2018-05-15
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
PREFERRED STOCK AND DETACHABLE WARRANTS (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended
May 31, 2016
Mar. 31, 2018
Mar. 31, 2017
Jun. 24, 2020
Dec. 31, 2017
Jun. 24, 2017
Dec. 31, 2016
Class of Stock [Line Items]              
Preferred stock, shares authorized   50,000,000     50,000,000    
Preferred stock, par value (in dollars per share)   $ 0.001          
Liabilities at fair value   $ 2,677,159     $ 2,245,408    
Convertible preferred stock, beneficial conversion feature   5,737,796          
Private placement fees   1,400,000          
Dividends payable   $ 739,354     $ 417,636    
Series A Preferred Stock              
Class of Stock [Line Items]              
Preferred stock, shares authorized   5,000,000     5,000,000    
Preferred stock, par value (in dollars per share)   $ 0.001     $ 0.001    
Preferred stock, shares issued   453,567     453,567    
Preferred stock, shares outstanding   453,567     453,567    
Series B Preferred Stock              
Class of Stock [Line Items]              
Temporary equity, shares authorized   10,000,000     10,000,000    
Temporary equity, shares issued   3,479,016     3,427,597    
Temporary equity, shares outstanding   3,479,016     3,427,597    
Preferred stock, dividend percentage   6.00%          
Dividends per share (in USD per share)   $ 3.10          
Redemption price per share (in USD per share)           $ 3.10  
Temporary equity, warrants issued   $ 905,484          
Dividends payable   139,186     $ 139,186    
Dividends paid in kind   139,186 $ 214,227        
Carrying amount of preferred shares   $ 7,583,722 6,097,610   $ 7,190,467   $ 5,676,467
Series B Preferred Stock | Liability              
Class of Stock [Line Items]              
Expected dividend rate percentage   0.00%          
Risk free interest rate percentage   2.33%          
Expected term (years)   2 years 2 months 18 days          
Series B Preferred Stock | Liability | Minimum              
Class of Stock [Line Items]              
Expected volatility rate percentage   76.00%          
Series B Preferred Stock | Liability | Maximum              
Class of Stock [Line Items]              
Expected volatility rate percentage   100.00%          
Series B Preferred Stock | Warrant              
Class of Stock [Line Items]              
Liabilities at fair value   $ 7,028,067          
Series B Preferred Stock | Forecast              
Class of Stock [Line Items]              
Redemption price per share (in USD per share)       $ 3.10      
Series B1 Preferred Stock              
Class of Stock [Line Items]              
Temporary equity, shares authorized   17,000,000     17,000,000    
Temporary equity, shares issued   12,947,916     13,151,989    
Temporary equity, shares outstanding   12,947,916     13,151,989    
Preferred stock, dividend percentage   6.00%          
Dividends per share (in USD per share)   $ 1.56          
Redemption price per share (in USD per share)           $ 1.72  
Convertible preferred stock, beneficial conversion feature $ 2,371,106            
Private placement fees 600,000            
Temporary equity, warrants issued   $ 1,771,675          
Dividends payable   415,731     $ 276,144    
Dividends paid in kind   $ 281,527 292,553        
Preferred stock, dividends percentage, failure to meet EBITDA thresholds   9.00%          
Carrying amount of preferred shares   $ 15,659,226 $ 14,327,186   $ 15,769,478   $ 13,927,788
Series B1 Preferred Stock | Liability              
Class of Stock [Line Items]              
Expected dividend rate percentage   0.00%          
Risk free interest rate percentage   2.54%          
Expected term (years)   3 years 7 months 10 days          
Series B1 Preferred Stock | Liability | Minimum              
Class of Stock [Line Items]              
Expected volatility rate percentage   76.00%          
Series B1 Preferred Stock | Liability | Maximum              
Class of Stock [Line Items]              
Expected volatility rate percentage   100.00%          
Series B1 Preferred Stock | Warrant              
Class of Stock [Line Items]              
Liabilities at fair value $ 2,867,264            
Series B1 Preferred Stock | Forecast              
Class of Stock [Line Items]              
Redemption price per share (in USD per share)       $ 1.56      
Series C Preferred Stock              
Class of Stock [Line Items]              
Preferred stock, shares authorized   44,000     44,000    
Preferred stock, par value (in dollars per share)   $ 0.001     $ 0.001    
Preferred stock, shares issued   31,568     31,568    
Preferred stock, shares outstanding   31,568     31,568