Sonnet BioTherapeutics (SONN) 10-Q 14 Aug 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2020	Aug. 12, 2020
Cover [Abstract]
Entity Registrant Name	Sonnet BioTherapeutics Holdings, Inc.
Entity Central Index Key	0001106838
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,644,039
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Current assets:
Cash	$ 3,106,592	$ 35,653
Prepaid expenses other current assets	394,967	4,101
Total current assets	3,501,559	39,754
Property and equipment	70,971
Operating lease right-of-use asset	225,065
Other assets	82,957
Total assets	3,880,552	39,754
Current liabilities:
Related-party notes	25,919	217,380
Accounts payable	2,421,744	1,842,996
Accrued expenses	702,834	824,865
Operating lease liability	79,157
Total current liabilities	3,229,654	2,885,241
Note payable	124,375
Operating lease liability	146,703
Total liabilities	3,500,732	2,885,241
Commitments and contingencies (note 8)
Stockholders' equity (deficit):
Preferred stock; $0.0001 par value: 5,000,000 shares authorized. No shares issued or outstanding
Common stock; $0.0001 par value: 125,000,000 shares authorized; 9,200,176 and 5,547,643 issued and outstanding at June 30, 2020 and September 30, 2019, respectively	920	555
Additional paid-in capital	29,563,893	9,594,100
Accumulated deficit	(29,184,993)	(12,440,142)
Total stockholders' equity (deficit)	379,820	(2,845,487)
Total liabilities and stockholders' equity (deficit)	$ 3,880,552	$ 39,754

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	9,200,176	5,547,643
Common stock, shares outstanding	9,200,176	5,547,643

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating expenses:
Research and development	$ 2,455,822	$ 391,914	$ 5,166,485	$ 616,325
Acquired in-process research and development	6,826,495		6,826,495
General and administrative	2,484,148	1,012,290	4,753,428	1,212,588
Loss from operations	(11,766,465)	(1,404,204)	(16,746,408)	(1,828,913)
Interest income (expense)	(3,798)	(11,855)	10,344	(162,873)
Foreign exchange loss	(8,787)		(8,787)
Net loss	$ (11,779,050)	$ (1,416,059)	$ (16,744,851)	$ (1,991,786)
Per share information:
Net loss per share of common stock, basic and diluted	$ (1.05)	$ (0.26)	$ (2.23)	$ (0.38)
Weighted average shares outstanding, basic and diluted	11,263,559	5,476,981	7,518,091	5,291,836

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Sep. 30, 2018	$ 502	$ 5,177,153	$ (7,568,931)	$ (2,391,276)
Balance, shares at Sep. 30, 2018	5,020,030
Sale of common stock, net of issuance costs	$ 9	628,991		629,000
Sale of common stock, net of issuance costs, shares	86,590
Conversion of promissory notes into common stock	$ 13	999,987		1,000,000
Conversion of promissory notes into common stock, shares	133,215
Issuance of common stock to settle related-party notes	$ 3	219,997		220,000
Issuance of common stock to settle related-party notes, shares	29,307
Net loss			(292,047)	(292,047)
Balance at Dec. 31, 2018	$ 527	7,026,128	(7,860,978)	(834,323)
Balance, shares at Dec. 31, 2018	5,269,142
Balance at Sep. 30, 2018	$ 502	5,177,153	(7,568,931)	(2,391,276)
Balance, shares at Sep. 30, 2018	5,020,030
Net loss				(1,991,786)
Balance at Jun. 30, 2019	$ 551	8,779,104	(9,560,717)	(781,062)
Balance, shares at Jun. 30, 2019	5,512,260
Balance at Dec. 31, 2018	$ 527	7,026,128	(7,860,978)	(834,323)
Balance, shares at Dec. 31, 2018	5,269,142
Sale of common stock, net of issuance costs	$ 3	249,997		250,000
Sale of common stock, net of issuance costs, shares	33,304
Net loss			(283,680)	(283,680)
Balance at Mar. 31, 2019	$ 530	7,276,125	(8,144,658)	(868,003)
Balance, shares at Mar. 31, 2019	5,302,446
Sale of common stock, net of issuance costs	$ 21	1,502,979		1,503,000
Sale of common stock, net of issuance costs, shares	209,814
Net loss			(1,416,059)	(1,416,059)
Balance at Jun. 30, 2019	$ 551	8,779,104	(9,560,717)	(781,062)
Balance, shares at Jun. 30, 2019	5,512,260
Balance at Sep. 30, 2019	$ 555	9,594,100	(12,440,142)	(2,845,487)
Balance, shares at Sep. 30, 2019	5,547,643
Issuance of common stock to settle related-party notes	$ 1	199,999		200,000
Issuance of common stock to settle related-party notes, shares	8,526
Sale of common stock and warrants, net of issuance costs	$ 13	2,715,017		2,715,030
Sale of common stock and warrants, net of issuance costs, shares	128,313
Net loss			(2,469,054)	(2,469,054)
Balance at Dec. 31, 2019	$ 569	12,509,116	(14,909,196)	(2,399,511)
Balance, shares at Dec. 31, 2019	5,684,482
Balance at Sep. 30, 2019	$ 555	9,594,100	(12,440,142)	(2,845,487)
Balance, shares at Sep. 30, 2019	5,547,643
Conversion of promissory notes into common stock				$ 200,000
Conversion of promissory notes into common stock, shares				8,526
Balance at Mar. 31, 2020	$ 574	13,864,111	(17,405,943)	$ (3,541,258)
Balance, shares at Mar. 31, 2020	5,742,244
Balance at Sep. 30, 2019	$ 555	9,594,100	(12,440,142)	(2,845,487)
Balance, shares at Sep. 30, 2019	5,547,643
Issuance of common stock to affect the Relief acquisition				6,700,128
Net loss				(16,744,851)
Balance at Jun. 30, 2020	$ 920	29,563,893	(29,184,993)	379,820
Balance, shares at Jun. 30, 2020	9,200,176
Balance at Dec. 31, 2019	$ 569	12,509,116	(14,909,196)	(2,399,511)
Balance, shares at Dec. 31, 2019	5,684,482
Sale of common stock and warrants, net of issuance costs	$ 5	1,354,995		1,355,000
Sale of common stock and warrants, net of issuance costs, shares	57,762
Net loss			(2,496,747)	(2,496,747)
Balance at Mar. 31, 2020	$ 574	13,864,111	(17,405,943)	(3,541,258)
Balance, shares at Mar. 31, 2020	5,742,244
Sale of common stock and warrants, net of issuance costs	$ 215	14,999,785		15,000,000
Sale of common stock and warrants, net of issuance costs, shares	2,152,360
Issuance of common stock to affect the Relief acquisition	$ 76	6,700,052		6,700,128
Issuance of common stock to affect the Relief acquisition, shares	757,933
Issuance of common stock and payment made in connection with Merger (Note 3)	$ 55	(6,000,055)		(6,000,000)
Issuance of common stock and payment made in connection with Merger (Note 3), shares	547,639
Net loss			(11,779,050)	(11,779,050)
Balance at Jun. 30, 2020	$ 920	$ 29,563,893	$ (29,184,993)	$ 379,820
Balance, shares at Jun. 30, 2020	9,200,176

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (16,744,851)	$ (1,991,786)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development	6,826,495
Depreciation	5,212
Amortization of operating lease right-of-use asset	30,873
Noncash interest		86,233
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(361,555)	(43,945)
Other assets	(82,957)
Accounts payable	532,991	318,606
Accrued expenses	(248,146)	251,280
Operating lease liability	(30,078)
Net cash used in operating activities	(10,072,016)	(1,379,612)
Cash flows from investing activities:
Purchases of property and equipment	(76,183)
Net cash used in investing activities	(76,183)
Cash flows from financing activities:
Proceeds from the issuance of common stock and warrants, net of issuance costs	19,070,030	2,382,000
Payment to affect the Merger	(6,000,000)
Proceeds from the receipt of loan	124,375
Proceeds received from related-party notes	55,000	89,367
Repayments of related-party notes	(46,461)	(854,554)
Cash received in the Relief acquisition	16,194
Net cash provided by financing activities	13,219,138	1,616,813
Net increase in cash	3,070,939	237,201
Cash, beginning of period	35,653	5,419
Cash, end of period	3,106,592	242,620
Supplemental operating cash flow information:
Cash paid for interest		99,890
Supplemental disclosure of non-cash investing and financing activities:
Conversion of convertible promissory note into common stock		1,000,000
Issuance of common stock to settle related-party notes	200,000	220,000
Issuance of common stock for Relief acquisition	6,700,128
Right of use asset and liability recorded upon adoption of ASC 842	$ 255,938

Nature of Business and Liquidit

Nature of Business and Liquidity	9 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Liquidity	(1) Nature of Business and Liquidity Business Sonnet BioTherapeutics, Inc. (“Sonnet”) was incorporated as a New Jersey corporation on April 6, 2015. Sonnet is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single- or bi-specific action. Known as F H On April 1, 2020, Sonnet completed its merger (the “Merger”) with publicly-held Chanticleer Holdings, Inc. (“Chanticleer”) in accordance with the terms of the Plan of Merger dated October 10, 2019, as amended by amendment no. 1 on February 7, 2020 (the “Merger Agreement”). Immediately prior to the Merger, Chanticleer spun-off its restaurant operations to a spin-off entity and no assets or liabilities of the restaurant business remained after the spin-off. After the Merger, Chanticleer changed its name to Sonnet Biotherapeutics Holdings, Inc. (“Sonnet Holdings” or the “Company”) and is focused on advancing Sonnet’s pipeline of oncology candidates and the strategic expansion of Sonnet’s technology platform into other human disease. Under the terms of the Merger Agreement, the Company issued shares of common stock to Sonnet’s stockholders. Sonnet Holdings assumed all outstanding and unexercised Chanticleer warrants which were converted into warrants to purchase common stock of Sonnet Holdings. In addition, Sonnet paid Chanticleer $6.0 million as a condition of close and issued warrants to the spin-off entity. For accounting purposes, Sonnet is considered the acquiring company and the Merger has been accounted for as a reverse acquisition and recapitalization with Sonnet being treated as the accounting acquirer. As such, the financial information prior to the Merger relate solely to Sonnet. Subsequent to the Merger, the consolidated financial statements relate to the consolidated entities of the Company. See Note 3 for additional discussion of the Merger. In August 2019, the Company executed a Share Exchange Agreement with Relief Therapeutics Holdings SA (“Relief Holdings”), to acquire and further develop Relief’s asset, atexakin alfa, together with its proprietary experimental drugs. The acquisition of Relief was completed on April 1, 2020 and the Company issued 757,933 shares of its common stock to shareholders of Relief. On March 10, 2020, the World Health Organization characterized the novel COVID-19 virus as a global pandemic. There is significant uncertainty as to the likely effects of this disease which may, among other things, materially impact the Company’s planned clinical trials. This pandemic or outbreak could result in difficulty securing clinical trial site locations, clinical research organizations (“CROs”), and/or trial monitors and other critical vendors and consultants supporting the trial. In addition, outbreaks or the perception of an outbreak near a clinical trial site location could impact the Company’s ability to enroll patients. These situations, or others associated with Covid-19, could cause delays in the Company’s clinical trial plans and could increase expected costs, all of which could have a material adverse effect on the Company’s business and its financial condition. At the current time, the Company is unable to quantify the potential effects of this pandemic on its future operations. Liquidity The Company has incurred recurring losses and negative cash flows from operations activities since inception and it expects to generate losses from operations for the foreseeable future primarily due to research and development costs for its potential product candidates. The Company believes its cash of $3,106,592 at June 30, 2020 and cash receipts of $7,081,800 received through August 14, 2020 from the exercise of Series A Warrants will fund the Company’s projected operations into the first calendar quarter of 2021. Substantial additional financing will be needed by the Company to fund its operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company entered into a common stock purchase agreement with GEM Global Yield Fund LLC SCS (“GEM”) on August 6, 2019, as amended on September 25, 2019 and January 31, 2020, (the “GEM Agreement”). Pursuant to the GEM Agreement, GEM agreed to purchase up to $20.0 million (“Aggregate Limit”) of the Company’s common stock over a three-year period commencing on the date the original agreement was executed; provided that during any period when the Company’s public float is less than $75.0 million, the Aggregate Limit will instead be equal to one-third of the amount of the Company’s public float over any consecutive 12-month period. No common stock has been issued to date under the GEM Agreement. The Company plans to secure additional capital in the future through equity or debt financings, partnerships, collaborations, or other sources to carry out the Company’s planned development activities. If additional capital is not available when required, the Company may need to delay or curtail its operations until such funding is received. Various internal and external factors will affect whether and when the Company’s product candidates become approved for marketing and successful commercialization. The regulatory approval and market acceptance of the Company’s products candidates, length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the approval process will materially affect the Company’s financial condition and future operations. Operations since inception have consisted primarily of organizing the Company, securing financing, developing its technologies through performing research and development and conducting preclinical studies. The Company faces risks associated with companies whose products are in development. These risks include the need for additional financing to complete its research and development, achieving its research and development objectives, defending its intellectual property rights, recruiting and retaining skilled personnel, and dependence on key members of management.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies (a) Basis of presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”). In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited interim financial statements) considered necessary to present fairly the Company’s financial position as of June 30, 2020 and its results of operations and cash flows for the three and nine months ended June 30, 2020 and 2019. The unaudited interim consolidated financial statements presented herein do not contain the required disclosures under GAAP for annual financial statements and should be read in conjunction with the annual audited financial statements and related notes of Sonnet as of and for the year ended September 30, 2019 included within the Company’s prospectus filed with the Securities and Exchange Commission, or SEC, on February 11, 2020. (b) Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. (c) Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. (d) Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization expense is recognized using the straight-line method over the estimated useful life of the asset. Expenditures for repairs and maintenance that do not extend the estimated useful life or improve an asset are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the statement of operations. As of June 30, 2020, the property and equipment balance was comprised of leasehold improvements and computer equipment associated with the Princeton office lease discussed in Note 7. (e) Net loss per share Basic loss per share of common stock is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period and potential shares of common stock that are exercisable for little or no consideration. Included in basic weighted-average number of shares of common stock outstanding during the three and nine months ended June 30, 2020 are the Series B warrants and certain warrants issued to the spin-off entity with exercise prices of $0.0001 and $0.01 per share, respectively. Diluted loss per share of common stock includes the effect, if any, from the potential exercise or conversion of securities, such convertible promissory notes and common stock warrants which would result in the issuance of incremental shares of common stock. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, dilutive securities are not included in the calculation as the impact is anti-dilutive. The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive: June 30, 2020 Warrants 105,812 Legacy Chanticleer warrants 20,180 Series A warrants 3,300,066 3,426,058 No anti-dilutive shares existed at June 30, 2019. (f) Segment information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources in assessing performance. The Company views and manages its business in one segment. (g) Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases In August 2018, the FASB issued ASU 2018-13, Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurements,

Merger with Chanticleer

Merger with Chanticleer	9 Months Ended
	Jun. 30, 2020
Merger With Chanticleer
Merger with Chanticleer	(3) Merger with Chanticleer As described in Note 1. the Company merged with the Chanticleer Holdings on April 1, 2020. The Merger was accounted for as a reverse recapitalization with the Company as the accounting acquirer. Legacy Chanticleer shareholders were issued 547,639 shares of common stock. Merger consideration paid by the Company to Chanticleer Holdings included $6.0 million of cash and issuance of warrants to the spin-off entity. The Company reflected the $6.0 million cash paid to the spin-off entity as a decrease to additional paid-in capital.

Relief Acquisition

Relief Acquisition	9 Months Ended
	Jun. 30, 2020
Relief Acquisition
Relief Acquisition	(4) Relief Acquisition In August 2019, the Company executed a Share Exchange Agreement with Relief Holdings, in which the Company agreed to acquire the outstanding shares of Relief. The Company issued 757,933 shares of common stock upon closing of the transaction on April 1, 2020. For accounting purposes, the Company determined that the acquisition of Relief did not meet the definition of a business and was accounted for as an asset acquisition since substantially all of the fair value of the assets acquired was concentrated in a single identified intangible asset, atexakin alfa. Fair value of common stock issued: $ 6,700,128 Assets acquired: Cash $ 16,194 Prepaid expenses and other current assets 29,311 In-process research and development (IPR&D) 6,826,495 Total assets acquired $ 6,872,000 Liabilities assumed Accounts payable 45,757 Accrued expenses 126,115 Total liabilities assumed $ 171,872 Net assets acquired $ 6,700,128 The Company expensed the acquired IPR&D as of the acquisition date since further development and regulatory approval are required.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses	(5) Accrued Expenses Accrued expenses consisted of the following: June 30, September 30, 2020 2019 Professional fees $ 589,760 $ 657,914 Compensation and benefits 38,843 166,951 Value-added tax 57,557 — Other expenses 16,674 — $ 702,834 $ 824,865

Debt

Debt	9 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	(6) Debt Related-party notes During the nine months ended June 30, 2020 and 2019, the Company issued unsecured notes payable to various related parties resulting in cash proceeds of $55,000 and $89,367, respectively. These notes are payable on demand and payments of $46,461 and $854,554 were made during the nine months ended June 30, 2020 and 2019, respectively. The interest on these notes was de minimis during each of those periods. In October 2019 and December 2018, the Company issued 8,526 and 29,307 shares of common stock to settle $200,000 and $220,000 of related party notes, respectively. PPP Loan On March 27, 2020, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act includes a provision for a Paycheck Protection Program (“PPP”) administered by the U.S. Small Business Administration (“SBA”) and further amended by the Paycheck Protection Program Flexibility Act of 2020 (“PPP Flexibility Act”), which was enacted on June 5, 2020. In May 2020, the Company received a PPP Loan of $124,375. The application for these funds required the Company to certify in good faith that current economic uncertainty made the loan request necessary to support the ongoing operations of the Company. The Company was also required to certify that the loan funds would be used to retain workers and maintain payroll or make mortgage payments, lease payments, and utility payments. The PPP Loan has a two-year term and bears interest at a rate of 1.0% per year. Under the terms of the CARES Act, the Company can apply for and be granted forgiveness for all or a portion of the PPP Loan. Such forgiveness, if any, will be determined, subject to limitations, based on the use of loan proceeds for payroll costs, rent and utility costs and provided that only a portion of the use of proceeds are for non-payroll costs. The unforgiven portion of the PPP Loan may be repaid by the Company at any time prior to maturity with no prepayment penalty. While the Company believes that its use of the loan proceeds will meet the conditions for forgiveness of the PPP Loan, at this time there can be no assurance that the Company will obtain forgiveness of the loan in whole or in part. Loan recipients may elect an eight week or 24 week forgiveness period and the repayment period begins on the date which the amount of forgiveness is determined. In the event that a loan recipient has not applied for forgiveness within 10 months of the end of its covered forgiveness period, the loan recipient must begin making principal and interest payments on that date. As of June 30, 2020, the full amount of the PPP Loan is classified as a note payable within the Company’s consolidated balance sheets.

Leases

Leases	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	(7) Leases The Company adopted ASC 842 - Leases In December 2019, the Company entered a 36-month lease for office space in Princeton, New Jersey, which commenced February 1, 2020. At that time, the Company terminated its existing month-to-month leases for office space. The components of lease expense for the nine months ended June 30, 2020 are as follows: Lease expense Operating lease expense $ 42,567 Short-term lease expense 51,171 Total lease cost $ 93,738 At June 30, 2020, the weighted-average remaining lease term was 2.6 years and the weighted average discount rate was 12%. Cash flow information related to operating leases for the nine months ended June 30, 2020 is as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 41,771 Future minimum lease payments under non-cancellable leases at June 30, 2020 are as follows: Fiscal year 2020 (excluding the nine months ended June 30, 2020) $ 25,063 2021 101,516 2022 103,440 2023 34,695 Total undiscounted lease payments 264,714 Less: imputed interest (38,854 ) Total lease liabilities $ 225,860

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(8) Commitments and Contingencies Legal Proceedings From time to time, the Company is a party to various lawsuits, claims, and other legal proceedings that arise in the ordinary course of its business. While the outcomes of these matters are uncertain, management does not expect that the ultimate costs to resolve these matters will have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Employment Agreements The Company has entered into employment contracts with its officers and certain employees that provide for severance and continuation of benefits in the event of termination of employment either by the Company without cause or by the employee for good reason, both as defined in the contract. In addition, in the event of termination of employment following a change in control, as defined, either by the Company without cause or by the employee for good reason, any unvested portion of the employee’s initial stock option grant becomes immediately vested. Through June 30, 2020 no stock options have been granted. Operating Leases In December 2019, the Company entered into a 36 month lease for office space in Princeton, New Jersey, which commenced in February 2020. Monthly future lease payments are disclosed in Note 7.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	9 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity (Deficit)	(9) Stockholders’ Equity (Deficit) Common stock Prior to the Merger, during the six months ended March 31, 2020, the Company sold 186,075 shares of common stock and issued warrants to purchase 93,038 shares of common stock with an exercise price of $29.32 per share for net proceeds of $4,070,030. In addition, the Company issued 8,526 shares of common stock upon conversion of outstanding promissory notes with an outstanding principal balance of $200,000 at the time of conversion. Upon consummation of the Merger, the Company issued 547,639 common shares and 206,371 warrants to legacy Chanticleer shareholders. The warrants are to purchase shares of common stock with exercise prices ranging from $0.01 per share to $1,820 per share and a weighted average exercise price of $26.60 per share. On April 1, 2020, the Company sold 1,699,232 shares of common stock to new investors for net proceeds of $15,000,000 in a private placement. The new investors also received 3,300,066 Series A warrants with an exercise price of $5.3976 and 2,247,726 Series B warrants with an exercise price of $0.0001. An advisor for the private placement was issued 453,128 shares of common stock. The Company issued 757,933 shares to acquire the nets assets of Relief (see Note 4). During the nine months ended June 30, 2019, the Company sold 329,708 shares of common stock in exchange for net proceeds of $2,382,000 and issued 162,522 shares of common stock upon conversion promissory notes with an aggregate outstanding principal balance of $1,250,000 at the time of conversion. Common stock Warrants As of June 30, 2020, the following equity-classified warrants and related terms were outstanding: Warrants Exercise Expiration Outstanding Price Date Warrants 105,812 $ 29.32 October 1, 2022 - March 10, 2023 Chanticleer warrants 206,341 $0.01 - $1,820 October 1, 2020 - December 17, 2028 Series A warrants 3,300,066 $ 5.40 April 16, 2025 Series B warrants 2,247,726 $ 0.0001 April 16, 2025 5,859,945 The Series A and Series B warrants include certain down-round protection provisions based upon the Company’s volume weighted average closing stock price and in the event the Company were to sell shares of its common stock at a price below the Series A warrant exercise price then in effect. The Company determined these provisions do not preclude equity classification as the provisions do not violate the indexation guidance, as prescribed within ASC 815-40.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related-Party Transactions	(10) Related-Party Transactions During the nine months ended June 30, 2020 and 2019, the Company entered into various debt agreements with several officers of the Company. The terms of the debt and related components are further described in more detail in Note 6.

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	(11) Subsequent Events The Company has evaluated subsequent events through August 14, 2020, the date at which the interim consolidated financial statements were available to be issued and there are no other items requiring disclosure except for the following: RSUs On July 2, 2020 the Company issued 653,845 restricted stock units under the Company’s 2020 Omnibus Equity Incentive Plan (the “Plan”) with vesting as to 50% on April 2, 2021 and 50% on April 2, 2022. Series B Exercises Subsequent to June 30, 2020, an aggregate of 2,223,863 shares of common stock have been issued upon the exercise of Series B Warrants resulting in proceeds of $223. Warrant Exercise Amendment In August 2020, in order to induce the holders to exercise their warrants for cash, the Company agreed to reduce the exercise price of the Series A Warrants from $5.3976 to $3.19 per share. In addition, each warrant holder has agreed not to purchase any shares of common stock, other than pursuant to exercises of the Series A Warrants, until such time that no Series A Warrants are held by such holder. Upon exercise of the Series A Warrants, each holder will receive a Series C Warrant to purchase 3.4331 shares of the Company’s common stock, or an aggregate of 11,329,436 Series C Warrants. The Series C Warrants are substantially similar to the Series A Warrants, except that the Series C Warrants do not contain subsequent issuance price protection. The Series C Warrants are exercisable six months from the date of issuance and will expire on October 16, 2025. In connection with the amendment to the Series A Warrants, the Series B Warrants no longer provide for resets to the number of shares of common stock underlying the Series B Warrants. As a result, the maximum number of shares of common stock issuable upon exercise of all of the Series B Warrants is 4,532,526 (of which 2,223,863 shares have already been issued upon exercises since June 30, 2020), which results from an increase of 2,284,800 shares pursuant to the terms of the amendment. Subsequent to the amendment, the holders exercised 2,220,000 Series A warrants resulting in gross proceeds of $7,081,800. Licensing Letter of Intent On August 4, 2020, the Company executed a letter of intent to negotiate an agreement to license its SON-081 and SON-080 assets, both low-dose formulations of Interleukin 6, for diabetic peripheral neuropathy and chemotherapy-induced peripheral neuropathy to New Life Therapeutics Pte. Ltd. (“New Life”) of Singapore. The licensed territory would include the Association of Southeast Asian Nations (ASEAN) countries of Singapore, Malaysia, Indonesia, Thailand, The Philippines, Cambodia, Brunei, Vietnam, Myanmar and Lao PDR. The Company received a $500,000 non-refundable payment in connection with the execution of the letter of intent from New Life. The letter of intent outlines an agreement that could provide the Company total up to $40 million in milestone payments and a royalty of 30% on commercial sales. The letter of intent is non-binding and there is no assurance that the Company will be able to execute a definitive agreement with New Life on the terms set forth in the letter of intent or at all.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”). In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited interim financial statements) considered necessary to present fairly the Company’s financial position as of June 30, 2020 and its results of operations and cash flows for the three and nine months ended June 30, 2020 and 2019. The unaudited interim consolidated financial statements presented herein do not contain the required disclosures under GAAP for annual financial statements and should be read in conjunction with the annual audited financial statements and related notes of Sonnet as of and for the year ended September 30, 2019 included within the Company’s prospectus filed with the Securities and Exchange Commission, or SEC, on February 11, 2020.
Consolidation	(b) Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	(c) Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.
Property and Equipment	(d) Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization expense is recognized using the straight-line method over the estimated useful life of the asset. Expenditures for repairs and maintenance that do not extend the estimated useful life or improve an asset are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the statement of operations. As of June 30, 2020, the property and equipment balance was comprised of leasehold improvements and computer equipment associated with the Princeton office lease discussed in Note 7.
Net Loss Per Share	(e) Net loss per share Basic loss per share of common stock is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period and potential shares of common stock that are exercisable for little or no consideration. Included in basic weighted-average number of shares of common stock outstanding during the three and nine months ended June 30, 2020 are the Series B warrants and certain warrants issued to the spin-off entity with exercise prices of $0.0001 and $0.01 per share, respectively. Diluted loss per share of common stock includes the effect, if any, from the potential exercise or conversion of securities, such convertible promissory notes and common stock warrants which would result in the issuance of incremental shares of common stock. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, dilutive securities are not included in the calculation as the impact is anti-dilutive. The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive: June 30, 2020 Warrants 105,812 Legacy Chanticleer warrants 20,180 Series A warrants 3,300,066 3,426,058 No anti-dilutive shares existed at June 30, 2019.
Segment Information	(f) Segment information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources in assessing performance. The Company views and manages its business in one segment.
Recent Accounting Pronouncements	(g) Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases In August 2018, the FASB issued ASU 2018-13, Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurements,

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Potentially Dilutive Securities	The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive: June 30, 2020 Warrants 105,812 Legacy Chanticleer warrants 20,180 Series A warrants 3,300,066 3,426,058

Relief Acquisition (Tables)

Relief Acquisition (Tables)	9 Months Ended
	Jun. 30, 2020
Relief Acquisition
Schedule of Assets and Liability Acquired	For accounting purposes, the Company determined that the acquisition of Relief did not meet the definition of a business and was accounted for as an asset acquisition since substantially all of the fair value of the assets acquired was concentrated in a single identified intangible asset, atexakin alfa. Fair value of common stock issued: $ 6,700,128 Assets acquired: Cash $ 16,194 Prepaid expenses and other current assets 29,311 In-process research and development (IPR&D) 6,826,495 Total assets acquired $ 6,872,000 Liabilities assumed Accounts payable 45,757 Accrued expenses 126,115 Total liabilities assumed $ 171,872 Net assets acquired $ 6,700,128

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following: June 30, September 30, 2020 2019 Professional fees $ 589,760 $ 657,914 Compensation and benefits 38,843 166,951 Value-added tax 57,557 — Other expenses 16,674 — $ 702,834 $ 824,865

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Lease Expenses	The components of lease expense for the nine months ended June 30, 2020 are as follows: Lease expense Operating lease expense $ 42,567 Short-term lease expense 51,171 Total lease cost $ 93,738
Schedule of Operating Lease	Cash flow information related to operating leases for the nine months ended June 30, 2020 is as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 41,771
Schedule of Future Minimum Lease Payments	Future minimum lease payments under non-cancellable leases at June 30, 2020 are as follows: Fiscal year 2020 (excluding the nine months ended June 30, 2020) $ 25,063 2021 101,516 2022 103,440 2023 34,695 Total undiscounted lease payments 264,714 Less: imputed interest (38,854 ) Total lease liabilities $ 225,860

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Tables)	9 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Warrants Outstanding	As of June 30, 2020, the following equity-classified warrants and related terms were outstanding: Warrants Exercise Expiration Outstanding Price Date Warrants 105,812 $ 29.32 October 1, 2022 - March 10, 2023 Chanticleer warrants 206,341 $0.01 - $1,820 October 1, 2020 - December 17, 2028 Series A warrants 3,300,066 $ 5.40 April 16, 2025 Series B warrants 2,247,726 $ 0.0001 April 16, 2025 5,859,945

Nature of Business and Liquid_2

Nature of Business and Liquidity (Details Narrative) - USD ($)	Apr. 14, 2020	Aug. 06, 2019	Aug. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019
Warrants outstanding				$ 4,070,030	$ 4,070,030
Purchase of warrants				93,038	93,038
Cash				$ 3,106,592		$ 35,653
Series A Warrant [Member]
Cash received from issuance of common stock	$ 7,081,800
Relief Holding [Member]
Conversion of stock, shares converted			757,933
GEM Global Yield Fund LLC [Member] | Maximum [Member]
Cash received from issuance of common stock		$ 20,000,000
GEM Global Yield Fund LLC [Member] | Minimum [Member]
Cash received from issuance of common stock		$ 75,000,000
Merger Agreement [Member] | Spin-Off Entity [Member]
Warrants outstanding				$ 6,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - $ / shares	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Series B Warrant [Member]
Basic weighted-average number of shares exercise price	$ 0.0001	$ 0.0001
Certain Warrants [Member]
Basic weighted-average number of shares exercise price	$ 0.01	$ 0.01

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Potentially Dilutive Securities (Details)	9 Months Ended
	Jun. 30, 2020shares
Total anti-dilutive weighted average shares	3,426,058
Warrants [Member]
Total anti-dilutive weighted average shares	105,812
Legacy Chanticleer Warrants [Member]
Total anti-dilutive weighted average shares	20,180
Series A Warrants [Member]
Total anti-dilutive weighted average shares	3,300,066

Merger with Chanticleer (Detail

Merger with Chanticleer (Details Narrative) - USD ($)	Apr. 02, 2020	Aug. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Number of common stock issued		757,933
Number of common stock issued, value			$ 1,503,000	$ 250,000	$ 629,000
Spin-Off Entity [Member]
Decrease in additional paid-in capital	$ 6,000,000
Common Stock [Member]
Number of common stock issued	547,639		209,814	33,304	86,590
Number of common stock issued, value	$ 6,000,000		$ 21	$ 3	$ 9

Relief Acquisition (Details Nar

Relief Acquisition (Details Narrative)	1 Months Ended
	Aug. 31, 2019shares
Relief Acquisition
Number of common stock issued	757,933

Relief Acquisition - Schedule o

Relief Acquisition - Schedule of Assets and Liability Acquired (Details)	3 Months Ended	9 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)
Relief Acquisition
Fair value of common stock issued:	$ 6,700,128	$ 6,700,128
Cash	16,194	16,194
Prepaid expenses and other current assets	29,311	29,311
In-process research and development (IPR&D)	6,826,495	6,826,495
Total assets acquired	6,872,000	6,872,000
Accounts payable	45,757	45,757
Accrued expenses	126,115	126,115
Total liabilities assumed	171,872	171,872
Net assets acquired	$ 6,700,128	$ 6,700,128

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Payables and Accruals [Abstract]
Professional fees	$ 589,760	$ 657,914
Compensation and benefits	38,843	166,951
Value-added tax	57,557
Other expenses	16,674
Accrued Expenses	$ 702,834	$ 824,865

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	May 31, 2020	Oct. 30, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019
Proceeds received from related-party notes						$ 55,000	$ 89,367
Repayments of related-party notes						$ 46,461	$ 854,554
Issuance of common stock to settle related-party notes		$ 8,526	$ 29,307	$ 200,000	$ 220,000
Issuance of common stock to settle related-party notes, shares		200,000	220,000
Paycheck Protection Program [Member]
Loans Payable	$ 124,375
Debt instrument term	2 years
Debt instrument, interest rate	1.00%

Leases (Details Narrative)

Leases (Details Narrative)	Jun. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term	2 years 7 months 6 days
Weighted average discount rate	12.00%

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expenses (Details)	9 Months Ended
	Jun. 30, 2020USD ($)
Leases [Abstract]
Operating lease expense	$ 42,567
Short-term lease expense	51,171
Total lease cost	$ 93,738

Leases - Schedule of Operating

Leases - Schedule of Operating Lease (Details)	9 Months Ended
	Jun. 30, 2020USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 41,771

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details)	Jun. 30, 2020USD ($)
Leases [Abstract]
2020 (excluding the nine months ended June 30, 2020)	$ 25,063
2021	101,516
2022	103,440
2023	34,695
Total undiscounted lease payments	264,714
Less: imputed interest	(38,854)
Total lease liabilities	$ 225,860

Stockholders' Equity (Deficit_2

Stockholders' Equity (Deficit) (Details Narrative) - USD ($)	Apr. 02, 2020	Aug. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Jun. 30, 2020
Stockholder's Equity [Line Items]
Sale of stock, shares				186,075
Purchase of warrants				93,038	93,038
Warrants exercise price				$ 29.32
Warrants outstanding				$ 4,070,030	$ 4,070,030
Conversion of common stock				8,526
Conversion of common stock, value			$ 1,000,000	$ 200,000
Number of shares issued		757,933
Warrant, exercise price, decrease				$ 0.01
Warrant, exercise price, increase				1,820
Weighted average exercise price				$ 26.60
Common Stock One [Member]
Stockholder's Equity [Line Items]
Purchase of warrants					206,371
Stock issued during the period, acquisition					757,933
Common Stock One [Member] | Investors [Member]
Stockholder's Equity [Line Items]
Sale of stock, shares	1,699,232
Sale of stock	$ 15,000,000
Common Stock One [Member] | Chanticleer Shareholders [Member]
Stockholder's Equity [Line Items]
Number of shares issued					547,639
Series A Warrant [Member] | Investors [Member]
Stockholder's Equity [Line Items]
Sale of stock, shares	3,300,066
Series B Warrant [Member] | Private Placement [Member]
Stockholder's Equity [Line Items]
Number of shares issued	453,128
Series B Warrant [Member] | Investors [Member]
Stockholder's Equity [Line Items]
Sale of stock, shares	2,247,726
Warrants exercise price	$ 0.0001
Common Stock Two [Member]
Stockholder's Equity [Line Items]
Sale of stock, shares					329,708
Conversion of common stock					162,522
Conversion of common stock, value					$ 1,250,000
Sale of stock					$ 2,382,000

Stockholders' Equity (Deficit_3

Stockholders' Equity (Deficit) - Schedule of Warrants Outstanding (Details) - $ / shares	6 Months Ended		9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit		$ 0.01
Exercise price, upper limit		$ 1,820
Warrant One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants, outstanding	105,812		105,812
Exercise price	$ 29.32
Warrant One [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date	Oct. 1, 2022
Warrant One [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date	Mar. 10, 2023
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants, outstanding	5,859,945		5,859,945
Chanticleer Warrants [Member] | Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants, outstanding	206,341		206,341
Exercise price, lower limit			$ 0.01
Exercise price, upper limit			$ 1,820
Chanticleer Warrants [Member] | Warrants [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date			Oct. 1, 2020
Chanticleer Warrants [Member] | Warrants [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date			Dec. 17, 2028
Series A Warrants [Member] | Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants, outstanding	3,300,066		3,300,066
Exercise price			$ 5.40
Expiration date			Apr. 16, 2025
Series B Warrants [Member] | Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants, outstanding	2,247,726		2,247,726
Exercise price			$ 0.0001
Expiration date			Apr. 16, 2025

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Aug. 06, 2020	Aug. 04, 2020	Jul. 02, 2020	Aug. 14, 2020	Aug. 31, 2019	Aug. 31, 2020	Jun. 30, 2020	Mar. 31, 2020
Subsequent Event [Line Items]
Number of shares issued					757,933
Warrants exercise price								$ 29.32
Series B Warrant [Member]
Subsequent Event [Line Items]
Purchase of warrants							2,223,863
Subsequent Event [Member]
Subsequent Event [Line Items]
Payment of non refundable upon execution		$ 500,000
Payment for milestone		$ 40,000,000
Royalty percentage		30.00%
Subsequent Event [Member] | Series B Warrant [Member]
Subsequent Event [Line Items]
Number of shares issued				2,223,863
Purchase of warrants						4,532,526
Proceeds from warrants exercise				$ 223
Subsequent Event [Member] | Series B Warrant [Member] | Maximum [Member]
Subsequent Event [Line Items]
Purchase of warrants						2,284,800
Subsequent Event [Member] | Series A Warrant [Member] | Holders [Member]
Subsequent Event [Line Items]
Warrants exercised	2,220,000
Proceeds from warrants exercise	$ 7,081,800
Subsequent Event [Member] | Series A Warrant [Member] | Maximum [Member]
Subsequent Event [Line Items]
Warrants exercise price						$ 5.3976
Subsequent Event [Member] | Series A Warrant [Member] | Minimum [Member]
Subsequent Event [Line Items]
Warrants exercise price						3.19
Subsequent Event [Member] | Series C Warrant [Member]
Subsequent Event [Line Items]
Warrants exercise price						$ 3.19
Number of warrants received by each holder						3.4331
Purchase of warrants						11,329,436
Warrants expiration date						Oct. 16, 2025
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member] | 2020 Omnibus Equity Incentive Plan [Member]
Subsequent Event [Line Items]
Stock issued during the period, restricted stock units			653,845
Restricted stock units and vesting rights, description			On July 2, 2020 the Company issued 653,845 restricted stock units under the Company’s 2020 Omnibus Equity Incentive Plan (the “Plan”) with vesting as to 50% on April 2, 2021 and 50% on April 2, 2022.