Annual report pursuant to Section 13 and 15(d)

Subsequent Events (Details)

v3.21.1
Subsequent Events (Details) - USD ($)
1 Months Ended 12 Months Ended
Mar. 11, 2021
Feb. 25, 2021
Feb. 08, 2021
Mar. 12, 2021
Jan. 26, 2021
Dec. 31, 2020
Dec. 31, 2019
Feb. 12, 2021
Subsequent Events (Textual)                
Operating loss           $ 376,000 $ 0  
Subsequent Event [Member]                
Subsequent Events (Textual)                
Equity interest         100.00%      
Cash consideration         $ 700,000      
Prepaid cash         $ 350,000      
Subsequent events, description         The issuance 700,000 shares of Adial common stock ($2.34 at date of closing and contingent consideration for (i) certain development milestones in an aggregate amount of up to $2,100,000 for each compound (ii) milestones in an aggregate amount of up to $20,000,000 for each compound commercialized, and (iii) royalties of 3.0% of Net Sales (as defined in the Purchase Agreement). The equity consideration has been placed into escrow to secure certain indemnification and other obligations of Purnovate and the members.      
Options vest, description     The options vest over thirty-six months period and are exercisable for a period of ten years at an exercise price of $3.11. In addition, on February 8, 2021, the Committee awarded board members cumulative options to purchase 200,000 shares of the Company's common stock vesting over thirty-six months which are exercisable for a period of ten years at $3.11.          
Total proceeds       $ 2,350,000        
Sale of stock per share       $ 2.33        
Total proceeds of warrants   $ 1,425,000            
Warrant exercise price   $ 2.00            
Securities purchase agreement, description Under the terms of the Securities Purchase Agreements: (i) Bespoke agreed to purchase 33,667 shares of the Company's common stock on the date the Securities Purchase Agreement was executed and an additional 303,000 shares of the Company's common stock upon the effectiveness of the Registration Statement; (ii) Newman agreed to purchase 30,000 shares of the Company's common stock on the date the Securities Purchase Agreement was executed; and (iii) Keystone agreed to purchase 33,334 shares of the Company's common stock on the date the Securities Purchase Agreement was executed and an additional 300,000 shares of the Company's common stock upon the effectiveness of the Registration Statement. At the date of filing, all purchases of shares effective on the date of the agreement had been completed, with fund received and shares issued.              
Subsequent Event [Member] | Bespoke Growth Partners, Inc. [Member]                
Subsequent Events (Textual)                
Securities purchase agreement, description The Company entered into a Securities Purchase Agreement (the "Securities Purchase Agreements") with each of Bespoke Growth Partners, Inc. ("Bespoke"), a company controlled by Mark Peikin, the Company's Chief Strategy Officer, three entities controlled by James W. Newman, Jr., a member of the Company's board of directors ("Newman"), and Keystone Capital Partners, LLC ("Keystone" collectively with Bespoke and Newman, the "Investors," and each an "Investor"), pursuant to which: (i) Bespoke agreed to purchase an aggregate of 336,667 shares of the Company's common stock at a purchase price of $3.00 per share for aggregate gross proceeds of $1,010,001; (ii) Newman agreed to purchase an aggregate of 30,000 shares of the Company's common stock at a purchase price of $3.00 per share for aggregate gross proceeds of $90,000; and (iii) Keystone agreed to purchase an aggregate of 333,334 shares of the Company's common stock at a purchase price of $3.00 per share for aggregate gross proceeds of $1,000,002.              
Subsequent Event [Member] | Chief Executive Officer [Member]                
Subsequent Events (Textual)                
Stock issued     250,000          
Aggregate of performance bonus               $ 200,000
Subsequent Event [Member] | Chief Financial Officer [Member]                
Subsequent Events (Textual)                
Stock issued     125,000          
Aggregate of performance bonus               $ 200,000
Subsequent Event [Member] | Common Stock [Member]                
Subsequent Events (Textual)                
Stock issued       1,007,296 700,000      
Issuance of warrants   712,500