Senior Secured Debentures (Details Narrative) - USD ($) |
3 Months Ended | 12 Months Ended | |||
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Mar. 24, 2021 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
Dec. 31, 2019 |
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Debt principal amount | |||||
Subscription amount | $ 600,000 | ||||
Expected volatility rate | 79.60% | 79.60% | |||
Risk free rate of return | 0.45% | 1.51% | |||
Expected term | 3 years 5 months 9 days | 4 years 7 months 2 days | |||
Securities Purchase Agreement [Member] | Warrant [Member] | |||||
Fair value warrants | $ 266,773 | ||||
Stock price | $ 5.99 | ||||
Dividend yield rate | |||||
Expected volatility rate | 80.00% | ||||
Risk free rate of return | 0.50% | ||||
Expected term | 3 years | ||||
Accredited Investors [Member] | Securities Purchase Agreement [Member] | |||||
Debt principal amount | $ 750,000 | ||||
Subscription amount | $ 600,000 | ||||
Debt, maturity date | Jun. 24, 2021 | ||||
Debenture Holders [Member] | Securities Purchase Agreement [Member] | IPO [Member] | |||||
Sale of stock description | Each debenture holders will receive a warrant to purchase shares of common stock in an amount equal to 50% of the principal amount divided by 80% of the initial public offering price of the Company's common stock. | ||||
Warrants exercisable percentage | 80.00% | ||||
Transaction costs | $ 69,000 |
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- Definition Warrants exercisable percentage. No definition available.
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow from amounts received from issuance of long-term debt that is wholly or partially secured by collateral. Excludes proceeds from tax exempt secured debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Cash received on stock transaction after deduction of issuance costs. No definition available.
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- Definition Description of stock transaction which may include details of the offering (IPO, private placement), a description of the stock sold, percentage of subsidiary's or equity investee's stock sold, a description of the investors and whether the stock was issued in a business combination. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
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- Definition Expected term of award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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