Quarterly report pursuant to Section 13 or 15(d)

Debt (Details Narrative)

v3.20.2
Debt (Details Narrative)
3 Months Ended 4 Months Ended 6 Months Ended
May 28, 2020
USD ($)
shares
May 19, 2020
USD ($)
Apr. 24, 2020
USD ($)
$ / shares
shares
Apr. 15, 2020
USD ($)
Apr. 07, 2020
USD ($)
d / TradingDays
$ / shares
shares
Feb. 21, 2020
USD ($)
Jan. 29, 2020
USD ($)
shares
Jan. 24, 2020
USD ($)
shares
Jan. 24, 2020
USD ($)
Jan. 23, 2020
USD ($)
$ / shares
shares
Jan. 17, 2020
USD ($)
shares
Jan. 15, 2020
USD ($)
shares
Jan. 10, 2020
USD ($)
shares
Jan. 02, 2020
USD ($)
shares
Dec. 04, 2019
USD ($)
$ / shares
shares
Nov. 18, 2019
USD ($)
Nov. 12, 2019
USD ($)
Apr. 30, 2019
Jun. 30, 2020
USD ($)
shares
Jun. 30, 2019
USD ($)
shares
Apr. 30, 2019
Jun. 30, 2020
USD ($)
shares
Jun. 30, 2019
USD ($)
shares
Dec. 31, 2019
USD ($)
shares
Mar. 06, 2019
USD ($)
shares
Proceeds from convertible notes payable                                           $ 1,436,000 $ 1,111,111    
Beneficial conversion option                                     $ 588,690 $ 99,200   790,014 173,300    
Debt instrument, unamortized discount                                     $ 595,088     595,088      
Proceeds from notes                                           1,767,352 1,110,000    
Payment of debt                                           $ 143,479 427,411    
Common stock, shares, issued | shares                                     9,618,401     9,618,401   8,015,756  
Common stock, value, issued                                     $ 9,618     $ 9,618   $ 8,016  
Interest expense                                     847,154 401,170   2,667,513 525,864    
Interest expense, related party                                     75,692 79,374   152,326 159,636    
Maximum [Member]                                                  
Receivables sold           $ 1,250,000                                      
Receivables borrowing, percentage           85.00%                             80.00%        
Fee percentage of invoices financed           2.00%                             2.00%        
Minimum [Member]                                                  
Fee percentage of invoices financed           1.00%                       1.00%              
12% Convertible Promissory Note [Member]                                                  
Proceeds from convertible notes payable               $ 588,366                                  
12% Convertible Promissory Note [Member] | Investor [Member]                                                  
Stock issued during the period, shares | shares               100,000                                  
Senior Convertible Promissory Note [Member]                                                  
Debt instrument, face amount                                                 $ 560,000
Debt instrument, unamortized discount                                                 $ 60,000
Payment of debt                 $ 588,366                                
Debt effective interest rate                                                 2.00%
Common stock, shares, issued | shares                                                 15,000
Common stock, value, issued                                                 $ 74,100
Common Stock [Member]                                                  
Beneficial conversion option                                     $ 279 $ 35   $ 439 $ 50    
Beneficial conversion option, shares | shares                                     279,400 35,000   439,400 50,000    
Common Stock [Member] | 12% Convertible Promissory Note [Member]                                                  
Stock issued during the period, shares | shares               60,000                                  
Greentree Financial Group, Inc. [Member] | Investor [Member]                                                  
Warrants purchase | shares             550,000                                    
Warrants description             Loan Agreement, the Note, and the Warrant to: (i) correct the effective date set forth in the Loan Agreement, Note and Warrant to January 23, 2020 and the due date to October 23, 2020, (ii) clarify the terms of the registration right provision in the Loan Agreement such that the Company was required to register a total of 1,500,000 shares of Common Stock, which such amount of shares is the sum of 550,000 shares of Common Stock issuable upon conversion of the Note, 550,000 Warrant Shares, the 100,000 Origination Shares, and 300,000 shares of Common Stock to account for changes to the conversion and/or exercise price under the Note and Warrant, and (iii) to ensure that the total number of shares of Common Stock issued pursuant to the Loan Agreement, the Note, and/or the Warrant, each as amended, does not exceed 17.99% of the Company's issued and outstanding Common Stock as of January 23, 2020. The Company is subject to a $35,000 penalty on a monthly basis if a registration statement is not effective after 105 days from January 23, 2020.                                    
Debt instrument, maturity date             Oct. 23, 2020                                    
Beneficial conversion option             $ 586,785                                    
Beneficial conversion option, shares | shares             550,000                                    
Debt instrument, unamortized discount             $ 296,891                                    
Debt penalty             35,000                                    
Greentree Financial Group, Inc. [Member] | Warrant shares [Member] | Investor [Member]                                                  
Stock issued during the period, value             550,000                                    
Greentree Financial Group, Inc. [Member] | Origination and Advisory Shares [Member] | Investor [Member]                                                  
Debt instrument, unamortized discount             201,324                                    
Stock issued during the period, value             $ 160,000                                    
32 Entertainment LLC [Member] | Senior Secured Note [Member]                                                  
Warrants purchase | shares                             50,000                    
Warrants price | $ / shares                             $ 1.50                    
Warrants description                             The 32E Warrant also contains a conversion limitation provision, which prohibits 32E from exercising the 32E Warrant in an amount that would result in the beneficial ownership of greater than 4.9% of the total issued and outstanding shares of common stock, provided that (i) such exercise limitation may be waived by 32E with 61 days prior notice, and (ii) 32E cannot waive the exercise limitation if conversion of the 32E Warrant would result in 32E having beneficial ownership of greater than 9.9% of the total issued and outstanding shares of common stock.                    
Warrants expiration date                             Dec. 04, 2024                    
Debt instrument, face amount                             $ 250,000                    
Stock issued during the period, shares | shares                             10,000                    
Debt instrument, maturity date                             Dec. 04, 2020                    
Proceeds from notes                             $ 250,000                    
Debt instrument, description                             If the registration statement is not filed or declared effective within the timeframe set forth in the registration rights agreement, the Company was supposed to be obligated to pay to 32E a monthly amount equal to 1% of the total subscription amount paid by 32E until such failure is cured.                    
Debt discount rate                             20.00%                    
32 Entertainment LLC [Member] | Subordinate Secured Note [Member]                                                  
Debt instrument, face amount   $ 200,000                                              
Debt instrument, maturity date   May 21, 2021                                              
Debt instrument, interest rate   16.00%                                              
Debt periodic payment, principal $ 50,000                                                
Debt periodic payment, interest 6,250                                                
Debt periodic payment $ 56,250                                                
32 Entertainment LLC [Member] | Subordinate Secured Note [Member] | Restricted Stock Units [Member]                                                  
Stock issued during the period, shares | shares 40,000                                                
Loan Agreement [Member]                                                  
Debt instrument, interest rate                           1.50%                      
Loans payable                           $ 400,000                      
Loan Agreement [Member] | Greentree Financial Group, Inc. [Member]                                                  
Convertible notes payable                   $ 1,100,000                              
Investor purchase percent                   10.00%                              
Debt instrument, conversion price | $ / shares                   $ 2.00                              
Debt instrument, face amount                   $ 1,100,000                              
Loan Agreement [Member] | Greentree Financial Group, Inc. [Member] | Subsequent Pricing Period [Member]                                                  
Warrants description                   In the event that the average of the 15 lowest closing prices for the Company's common stock on NASDAQ or other primary trading market for the Company's common stock (the average of such lowest closing prices being herein referred to, the "True-up Price") during the period beginning on the effective date of the Registration Statement and ending on the 90th day after the effective date of the Registration Statement (the "Subsequent Pricing Period") is less than $2.00 per share, then the Company will issue the Lender additional shares of the Company's common stock (the "True-up Shares") within three days. No value has been assigned to the True-up Shares due to the contingency of an effective Registration Statement.                              
Debt instrument, conversion price | $ / shares                   $ 2.00                              
Loan Agreement [Member] | Greentree Financial Group, Inc. [Member] | Warrant [Member]                                                  
Warrants purchase | shares                   550,000                              
Warrants price | $ / shares                   $ 0.001                              
Warrants description                   The Note is convertible at any time at a price of $2.00 per share, subject to certain adjustments to the conversion price set forth in the Note. The Note reiterates the registration rights set forth in the Loan Agreement and the Warrant. There is no prepayment penalty on the Note. If the Note is not prepaid by the 90th day after the effective date of the Registration Statement, the Investor is required to convert the entire amount of principal and interest outstanding on the Note at that time, at a price of $2.00 per share, unless an event of default (as such events are described in the Note) under the Note has occurred, in which case the Note would be mandatorily converted at a price equal to 50% of the lowest trading price of the Common Stock for the last 10 trading days immediately prior to, but not including, the date that the Note mandatorily converts. In the event that the average of the 15 lowest closing prices for the Company's common stock on NASDAQ or other primary trading market for the Company's common stock (the average of such lowest closing prices being herein referred to, the "True-up Price") during the period beginning on the effective date of the Registration Statement and ending on the 90th day after the effective date of the Registration Statement (the "Subsequent Pricing Period") is less than $2.00 per share, then the Company will issue the Lender additional shares of the Company's common stock (the "True-up Shares") within three days. No value has been assigned to the True-up Shares due to the contingency of an effective Registration Statement. The warrant has an exercise price of $2.00 per share, subject to certain adjustments to the exercise price set forth in the Warrant. The Warrant, as amended, expires on January 23, 2023. If the closing price per share of the Common Stock reported on the day immediately preceding an exercise of the Warrant is greater than $2.00 per share, the Warrant may be exercised cashlessly, based on a cashless exercise formula. The Warrant reiterates the registration rights set forth in the Loan Agreement and the Note. The Warrant also contains a repurchase provision, which at any time after the Registration Statement is effective and the Common Stock has traded at a price over $3.00 share for 20 consecutive days, gives the Company a 30-day option to repurchase any unexercised portion of the Warrant at a price of $1.00 per share                              
Warrants expiration date                   Jan. 23, 2023                              
Loan Agreement [Member] | Ed Roses, LLC [Member] | Sook Hyun Lee [Member]                                                  
Warrants expiration date                           Apr. 15, 2020                      
Debt instrument, interest rate                           15.00%                      
Loans payable                           $ 150,000                      
Common stock in reserve | shares                           75,000                      
Commitment fee                           $ 30,000                      
Loan Agreement [Member] | Edison Nation Inc. [Member] | Paycheck Protection Program [Member]                                                  
Debt instrument, maturity date       Apr. 15, 2022                                          
Debt instrument, interest rate       1.00%                                          
Proceeds from loan       $ 789,852                                          
Securities Purchase Agreement [Member] | Jefferson Street Capital, LLC [Member] | Investor [Member]                                                  
Debt instrument, conversion price | $ / shares         $ 2.05                                        
Debt instrument, face amount         $ 168,000                                        
Stock issued during the period, shares | shares         10,700                                        
Debt instrument, unamortized discount         $ 18,000                                        
Proceeds from notes         $ 150,000                                        
Debt instrument, description         The Note has a term of six (6) months, is due on October 7, 2020 and has a one-time interest charge of 2%.                                        
Debt conversion description         Upon an Event of Default, the Conversion Price shall equal the Alternate Conversion Price (as defined herein) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower's securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Alternate Conversion Price" shall equal the lesser of (i) 80% multiplied by the average of the three lowest daily volume weighted average prices ("VWAP") during the previous twenty (20) Trading Days (as defined below) before the Issue Date of this Note (representing a discount rate of 20%) or (ii) 80% multiplied by the Market Price (as defined herein) (representing a discount rate of 20%). "Market Price" means the average of the three lowest daily VWAPs for the Common Stock during the twenty (20) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date.                                        
Trading days | d / TradingDays         20                                        
Securities Purchase Agreement [Member] | BHP Capital NY Inc [Member] | Investor [Member]                                                  
Debt instrument, conversion price | $ / shares         $ 2.05                                        
Debt instrument, face amount         $ 168,000                                        
Stock issued during the period, shares | shares         10,700                                        
Debt instrument, unamortized discount         $ 18,000                                        
Proceeds from notes         $ 150,000                                        
Debt instrument, description         The Note has a term of six (6) months, is due on October 7, 2020 and has a one-time interest charge of 2%.                                        
Debt conversion description         Upon an Event of Default, the Conversion Price shall equal the Alternate Conversion Price (as defined herein) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower's securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Alternate Conversion Price" shall equal the lesser of (i) 80% multiplied by the average of the three lowest daily volume weighted average prices ("VWAP") during the previous twenty (20) Trading Days (as defined below) before the Issue Date of this Note (representing a discount rate of 20%) or (ii) 80% multiplied by the Market Price (as defined herein) (representing a discount rate of 20%). "Market Price" means the average of the three lowest daily VWAPs for the Common Stock during the twenty (20) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date.                                        
Trading days | d / TradingDays         20                                        
Debt discount rate         20.00%                                        
Debt Conversion Agreement [Member]                                                  
Debt instrument, conversion price | $ / shares     $ 2.00                                            
Debt instrument, face amount     $ 424,000                                            
Share issued price per share | $ / shares     $ 2.08                                            
Stock issued for restricted common stock | shares     212,000                                            
5% Promissory Note Agreement [Member] | Ralls Note [Member]                                                  
Warrants purchase | shares                         125,000                        
Warrants expiration date                         Jul. 10, 2020                        
Debt instrument, face amount                         $ 267,000                        
Debt instrument, unamortized discount                         17,000                        
Payment of debt                         250,000                        
Issuance of warrants purchase value                         $ 86,725                        
Incentive shares | shares                         33,000                        
Incentive shares, value                         $ 79,860                        
5% Promissory Note Agreement [Member] | Solit Note [Member]                                                  
Warrants purchase | shares                       50,000                          
Warrants expiration date                       Jul. 15, 2020                          
Debt instrument, face amount                       $ 107,000                          
Debt instrument, unamortized discount                       7,000                          
Payment of debt                       100,000                          
Issuance of warrants purchase value                       $ 31,755                          
Incentive shares | shares                       13,000                          
Incentive shares, value                       $ 30,420                          
5% Promissory Note Agreement [Member] | 'O'Leary Note [Member]                                                  
Warrants purchase | shares                     25,000                            
Warrants expiration date                     Jul. 17, 2020                            
Debt instrument, face amount                     $ 53,500                            
Debt instrument, unamortized discount                     3,500                            
Payment of debt                     50,000                            
Issuance of warrants purchase value                     $ 16,797                            
Incentive shares | shares                     6,500                            
Incentive shares, value                     $ 15,535                            
Receivables Purchase Agreement [Member]                                                  
Receivables sold                               $ 337,500 $ 250,000                
Proceeds from receivables                               $ 250,000 $ 200,000                
Secured Line of Credit Agreement [Member]                                                  
Debt instrument, face amount                                     $ 2,500,000     $ 2,500,000      
Debt instrument, description                                           In the event of a default, any and all amounts due to PPE by Global, including principal and accrued but unpaid interest, shall increase by forty (40%) percent and the interest shall increase to five (5%) percent (the "Default Interest").      
Debt instrument, interest rate                                     3.00%     3.00%      
Debt instrument term                                           6 months