Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Schedule of Warrant Liability Measured on Recurring Basis

The fair value of the warrant liability measured on a recurring basis is as follows:

 

    September 30, 2021     Date of Issuance March 26, 2021
    Fair Value     Input Level     Fair Value     Input Level
                             
Derivative Liability - Warrants   $ -       -     $ 5,708,212     Level 3

Schedule of Derivative Liability Measured on a Recurring Basis Using Significant Unobservable Input (Level 3)

The following table presents a reconciliation of the derivative liability measured at fair value on a recurring basis using significant unobservable input (Level 3):

 

    Warrants  
Fair Value on Issuance Date   $ 5,708,212  
Change in Fair Value     (1,092,441 )
Fair Value on May 24, 2021     4,615,771  
Extinguishment of Derivative Liability     (4,615,771 )
Fair Value on September 30, 2021   $ -  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

 

    September 30,  
    2021     2020  
Warrants     3,987,931       1,845,722  
Preferred Stock Warrants     -       260,089  
Stock Options     1,400,407       610,229  
Preferred Stock     124,483       227,695  
                 
Total Underlying Common Shares     5,512,821       2,943,735  
Schedule of Earnings Per Share, Basic and Diluted

The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended September 30, 2021 and 2020:

 

    2021     2020     2021     2020  
    Three Months Ended
September 30
    Nine Months Ended
September 30
 
    2021     2020     2021     2020  
                         
Net Loss per Common Share - Basic and Diluted   $ (0.24 )   $ (0.42 )   $ (0.53 )   $ (1.74 )
Loss from continuing                                
Operations available to Common stockholders (numerator)   $ (2,505,198 )   $ (1,955,357 )   $ (5,076,532 )   $ (5,455,707 )
                                 
Weighted average number of common shares Outstanding used in loss per share during the Period (denominator)     10,494,560       4,675,749       9,602,666       3,137,459