|3 Months Ended|
Mar. 31, 2019
|Subsequent Events [Abstract]|
|Subsequent Events [Text Block]||
Note 10 — Subsequent Events
In April 2019, we entered into a receivables financing arrangement for certain receivables of the Company. The agreement allows for borrowing up to 80% of the outstanding receivable based on the credit quality of the customer. The fee is between 1% and 2% of the total invoice financed.
On May 13, 2019, Edison Nation, Inc. (the “Company”) entered into a 2% senior secured, senior convertible promissory note (the “Note”) for up to $1,000,000. The Company will issue 30,000 shares of its common stock, par value $0.001 per share (“Common Stock”) to the note holder as additional consideration for the purchase of the Note. Under the terms of the note, the note holder will have piggyback registration rights. On May 13, 2019, the Company borrowed $600,000 under the note.
On May 6, 2019, we issued 12,500 shares of our common stock valued at $48,375 to an innovator in connection with their licensing agreement.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef