Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.20.2
Shareholders' Deficit (Tables)
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Schedule of Preferred Stock

The Company has authorized 5,000,000 shares of preferred stock which have been designated as follows:

 

    Number of Shares     Number of Shares Outstanding     Par     Liquidation  
    Authorized     at June 30, 2020     Value     Value  
Series AA     1,000,000       25,000     $ 0.0010     $ -  
Preferred Series B     50,000       600     $ 0.0001     $ 100  
Preferred Series C     8,000       719     $ 0.0001     $ 1,000  
Preferred Series D     20,000       305     $ 0.0001     $ 1,000  
Undesignated     3,922,000       -       -       -  
Schedule of Stock Options Outstanding

The balance of all stock options outstanding as of June 30, 2020 is as follows:

 

                  Weighted        
            Weighted     Average        
            Average     Remaining     Aggregate  
            Exercise Price     Contractual     Intrinsic  
      Options     Per Share     Term (years)     Value  
Outstanding at January 1, 2020       99,833     $ 27.81       2.02       -  
Granted       -     $ -       -                   -  
Cancelled       (3,300 )   $ 11.60       3.25       -  
Exercised       -     $ -       -       -  
Outstanding at June 30, 2020       96,533     $ 28.36       1.46     $ -  
                                   
Exercisable at June 30, 2020       96,533     $ 28.36       1.46     $ -  
Schedule of Warrants Outstanding

A summary of the status of the warrants granted under these agreements at June 30, 2020, and changes during the six months then ended is presented below:

 

      Outstanding Warrants        
                  Weighted  
            Weighted     Average  
            Average     Remaining  
            Exercise Price     Contractual  
      Shares     Per Share     Term (years)  
Outstanding at January 1, 2020       73,486     $ 306.28       1.37  
Granted       -     $ -       -  
Cancelled       (2,408 )   $ 37.89       -  
Exercised       -     $ -          
Outstanding at June 30, 2020       71,078     $ 315.38       0.91  
                           
Exercisable at June 30, 2020       71,078     $ 315.38       0.91  
Schedule of Stock Options Valuation of Assumptions

The Company measures the fair value of stock options and warrants issued using the Black Scholes option pricing model using the following assumptions:

 

    Six months ended June 30,  
    2020     2019  
             
Expected term     -       2 years  
Exercise price     -       $14.50-$27.90  
Expected volatility     -       199%-242%  
Expected dividends     -       None  
Risk-free interest rate     -       2.28% to 2.60%  
Forfeitures     -       None