Annual report pursuant to Section 13 and 15(d)

Stockholders' Deficit (Tables)

v3.10.0.1
Stockholders' Deficit (Tables)
12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Schedule of equity unit class
Equity Unit Class   Units in
Unit Class
    Common Shares
Issued
per Unit
    Shares
Issued
Unit Class
 
Class A Unit     14,100,334       0.18600       2,622,673  
Profits Interest Unit, $1.42 distribution reduction     397,335       0.06862       27,264  
Profits Interest Unit, $0.50 distribution reduction, voting     1,372,167       0.14466       198,504  
Profits Interest Unit, $0.50 distribution reduction, non-voting     446,806       0.14466       64,637  
Class B Unit     1,908,205       0.18600       354,927  
                      3,268,005  
Schedule of stock options activity
    Total Options Outstanding     Weighted Average Remaining Term (Years)     Weighted Average Exercise Price     Weighted Average Fair Value at Issue  
Outstanding December 31, 2016       NA     NA     NA  
Issued     179,862       10.00     $ 5.70     $ 4.84  
Cancelled     (5,580 )     9.85       5.70       4.84  
Outstanding December 31, 2017     174,282       9.50       5.70       4.84  
Issued     68,900       10.00     $ 2.80     $ 2.21  
Outstanding December 31, 2018     243,182       8.93     $ 4.88     $ 4.09  
Outstanding December 31, 2018, non-vested     155,789       9.09     $ 4.52     $ 3.41  
Schedule of black scholes valuation model to determine the fair value of the options issued
    2018     2017  
Fair Value per Share   $ 2.80     $ 5.56-5.67  
Expected Term     6.5 years       6.5 years  
Expected Volatility     95.77 %     90-92 %
Risk free rate     2.79 %     2.26-2.35 %
Schedule of stock-based compensation expense

   

Year ended

December 30

 
    2018     2017  
R&D Options Expense     52,452        
Total research and development expenses     52,452        
G&A PIU Issuance Expense           69,505  
G&A Options Issuance Expense     199,451       135,891  
Stock granted for Performance Bonus Plan Cancellation     1,461,545        
Stock and warrants granted in IPO     3,436,406        
Stock issued to consultants     218,500        
Total general and administrative expenses     5,315,902       205,396  
Total stock-based compensation expense   $ 5,368,354     $ 205,396  
Schedule of activity in warrants
   

Total

Warrants

    Weighted Average Remaining Term (Years)    

Weighted

Average

Exercise

Price

    Average Intrinsic Value  
Outstanding December 31, 2016     482,555       12.20       5.51       1.38  
Issued           NA       NA       NA  
Cancelled           NA       NA       NA  
Outstanding December 31, 2017     482,555       11.20     $ 5.51     $ 1.38  
Issued     4,547,204       5.00       5.82       0.00  
Cancelled           NA       NA       NA  
Exercised     (25,000 )     4.59       6.25       0.06  
Outstanding December 31, 2018     5,054,759       5.07     $ 5.72       0.61