Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.20.1
Shareholders' Deficit (Tables)
3 Months Ended
Mar. 31, 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 March 31, 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       878     $ 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 March 31, 2020 is as follows:

 

          Weighted
Average
    Weighted
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     -     $ -       -       -  
Exercised     -     $ -       -       -  
Outstanding at March 31, 2020     99,833     $ 27.81       1.77     $ -  
                                 
Exercisable at March 31, 2020     96,532     $ 28.36       1.71     $ -  
Schedule of Warrants Outstanding

A summary of the status of the warrants granted under these agreements at March 31, 2020, and changes during the three months then ended is presented below:

 

    Outstanding Warrants     Weighted
Average
 
          Weighted
Average
    Remaining
Contractual
 
    Shares     Exercise Price
Per Share
    Term
(years)
 
Outstanding at January 1, 2020     73,486     $ 306.28       1.37  
Granted     -     $ -       -  
Cancelled     (271 )   $ 44.35       -  
Exercised     -     $ -          
Outstanding at March 31, 2020     73,215     $ 307.25       1.13  
                         
Exercisable at March 31, 2020     73,215     $ 307.25       1.13  
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:

 

    Three months ended March 31,  
    2020     2019  
             
Expected term     -       2 years  
Exercise price     -       $19.50-$27.90  
Expected volatility     -       231%-242%  
Expected dividends     -       None  
Risk-free interest rate     -       2.45% to 2.60%  
Forfeitures     -       None