Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 10, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | Ascent Solar Technologies, Inc. | |
Entity Central Index Key | 0001350102 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity File Number | 001-32919 | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 21,012,250,143 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 20-3672603 | |
Entity Address, Address Line One | 12300 Grant Street | |
Entity Address, City or Town | Thornton | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80241 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
City Area Code | 720 | |
Local Phone Number | 872-5000 | |
Title of 12(b) Security | Common | |
Trading Symbol | ASTI |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 4,281,094 | $ 167,725 |
Trade receivables, net of allowance of $26,000 and $45,833, respectively | 3,971 | 5,539 |
Inventories, net | 615,674 | 534,431 |
Prepaid and other current assets | 189,730 | 71,575 |
Total current assets | 5,090,469 | 779,270 |
Property, Plant and Equipment: | 24,148,192 | 24,867,176 |
Accumulated depreciation | (23,964,362) | (24,848,408) |
Property, Plant and Equipment, net | 183,830 | 18,768 |
Other Assets: | ||
Operating lease right-of-use assets, net | 5,150,718 | 5,633,663 |
Patents, net of accumulated amortization of $495,745 and $467,102, respectively | 393,545 | 439,836 |
Other non-current assets | 625,000 | 500,000 |
Total Assets | 11,443,562 | 7,371,537 |
Current Liabilities: | ||
Accounts payable | 650,720 | 736,986 |
Related party payables | 45,000 | 135,834 |
Accrued expenses | 1,031,017 | 1,518,212 |
Accrued interest | 479,872 | 438,063 |
Notes payable | 250,000 | 250,000 |
Current portion of operating lease liability | 628,438 | 575,404 |
Promissory notes, net | 193,200 | |
Convertible notes, net | 250,000 | |
Embedded derivative liability | 5,303,984 | |
Total current liabilities | 3,335,047 | 9,151,683 |
Long-Term Liabilities: | ||
Non-current operating lease liabilities | 4,698,431 | 5,179,229 |
Non-current secured promissory notes, net | 5,405,637 | |
Non-current convertible notes, net | 8,006,452 | 7,813,048 |
Accrued warranty liability | 21,225 | 14,143 |
Total liabilities | 16,061,155 | 27,563,740 |
Stockholders’ Deficit: | ||
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 48,100 and 48,100 shares issued and outstanding, respectively ($789,241 and $752,765 Liquidation Preference, respectively) | 5 | 5 |
Common stock, $0.0001 par value, 30,000,000,000 authorized; 19,678,916,809 and 18,102,583,473 shares issued and outstanding, respectively | 1,967,891 | 1,810,258 |
Additional paid in capital | 417,608,765 | 399,780,319 |
Accumulated deficit | (424,194,254) | (421,782,785) |
Total stockholders’ deficit | (4,617,593) | (20,192,203) |
Total Liabilities and Stockholders’ Deficit | $ 11,443,562 | $ 7,371,537 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Allowance for doubtful accounts | $ 26,000 | $ 45,833 |
Patents, amortization | $ 495,745 | $ 467,102 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | |
Preferred stock, shares authorized (in shares) | 25,000,000 | |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 30,000,000,000 | 30,000,000,000 |
Common stock, shares issued (in shares) | 19,678,916,809 | 18,102,583,473 |
Common stock, shares outstanding (in shares) | 19,678,916,809 | 18,102,583,473 |
Series A Preferred Stock | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 750,000 | 750,000 |
Preferred stock, shares issued (in shares) | 48,100 | 48,100 |
Preferred stock, shares outstanding (in shares) | 48,100 | 48,100 |
Preferred stock, liquidation preference | $ 789,241 | $ 752,765 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Total Revenues | $ 11,723 | $ 6,293 | $ 557,369 | $ 60,445 |
Costs and Expenses | ||||
Costs of revenue | 687,885 | 5,528 | 1,184,528 | 101,156 |
Research, development and manufacturing operations | 1,086,513 | 150,060 | 2,716,395 | 485,592 |
Selling, general and administrative | 882,641 | 315,660 | 2,244,771 | 505,053 |
Depreciation and amortization | 15,111 | 26,325 | 40,047 | 137,978 |
Total Costs and Expenses | 2,672,150 | 497,573 | 6,185,741 | 1,229,779 |
Loss from Operations | (2,660,427) | (491,280) | (5,628,372) | (1,169,334) |
Other Income/(Expense) | ||||
Other income/(expense), net | 67,644 | 3,055,366 | 68,443 | 3,314,966 |
Interest expense | (167,983) | (963,648) | (899,533) | (3,227,112) |
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net | 195,852 | 990,183 | 4,047,993 | 8,707,333 |
Total Other Income/(Expense) | 95,513 | 3,081,901 | 3,216,903 | 8,795,187 |
Net Income/(Loss) | $ (2,564,914) | $ 2,590,621 | $ (2,411,469) | $ 7,625,853 |
Net Income/(Loss) Per Share (Basic) | $ 0 | $ 0 | $ 0 | $ 0 |
Net Income/(Loss) Per Share (Diluted) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding (Basic) | 19,074,521,203 | 5,230,490,450 | 18,531,805,287 | 5,053,300,857 |
Weighted Average Common Shares Outstanding (Diluted) | 19,074,521,203 | 66,848,261,292 | 18,531,805,287 | 65,693,072,463 |
Products | ||||
Total Revenues | $ 11,723 | $ 6,293 | $ 557,369 | $ 60,445 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($) | Total | Global Ichiban Convertible Note | Bellridge Convertible Note | Preferred StockSeries A Preferred Stock | Preferred StockSeries 1A Preferred Stock | Preferred StockSeries 1A Preferred StockTubeSolar | Common Stock | Common StockTubeSolar | Common StockGlobal Ichiban Convertible Note | Common StockBellridge Convertible Note | Additional Paid-In Capital | Additional Paid-In CapitalTubeSolar | Additional Paid-In CapitalGlobal Ichiban Convertible Note | Accumulated Deficit |
Beginning balance at Dec. 31, 2019 | $ (25,106,781) | $ 5 | $ 475,917 | $ 397,817,526 | $ (423,400,229) | |||||||||
Beginning balance (in shares) at Dec. 31, 2019 | 48,100 | 4,759,161,650 | ||||||||||||
Interest and Dividend Expense paid with Common Stock | 2,132 | $ 2,132 | ||||||||||||
Interest and dividend expense paid with common stock (in shares) | 21,328,800 | |||||||||||||
Proceeds from issuance of Series 1A Preferred Stock | 2,000,000 | 2,000,000 | ||||||||||||
Proceeds from issuance of Series 1A Preferred Stock (in shares) | 2,000 | |||||||||||||
Conversion of shares | $ 45,000 | $ 45,000 | ||||||||||||
Conversion of shares (in shares) | 450,000,000 | |||||||||||||
Net Income (Loss) | 5,035,232 | 5,035,232 | ||||||||||||
Ending balance at Jun. 30, 2020 | (18,024,417) | $ 5 | $ 523,049 | 399,817,526 | (418,364,997) | |||||||||
Ending balance (in shares) at Jun. 30, 2020 | 48,100 | 2,000 | 5,230,490,450 | |||||||||||
Beginning balance at Dec. 31, 2019 | (25,106,781) | $ 5 | $ 475,917 | 397,817,526 | (423,400,229) | |||||||||
Beginning balance (in shares) at Dec. 31, 2019 | 48,100 | 4,759,161,650 | ||||||||||||
Net Income (Loss) | 7,625,853 | |||||||||||||
Ending balance at Sep. 30, 2020 | (15,433,796) | $ 5 | $ 523,049 | 399,817,526 | (415,774,376) | |||||||||
Ending balance (in shares) at Sep. 30, 2020 | 48,100 | 2,000 | 5,230,490,450 | |||||||||||
Beginning balance at Jun. 30, 2020 | (18,024,417) | $ 5 | $ 523,049 | 399,817,526 | (418,364,997) | |||||||||
Beginning balance (in shares) at Jun. 30, 2020 | 48,100 | 2,000 | 5,230,490,450 | |||||||||||
Net Income (Loss) | 2,590,621 | 2,590,621 | ||||||||||||
Ending balance at Sep. 30, 2020 | (15,433,796) | $ 5 | $ 523,049 | 399,817,526 | (415,774,376) | |||||||||
Ending balance (in shares) at Sep. 30, 2020 | 48,100 | 2,000 | 5,230,490,450 | |||||||||||
Beginning balance at Dec. 31, 2020 | (20,192,203) | $ 5 | $ 1,810,258 | 399,780,319 | (421,782,785) | |||||||||
Beginning balance (in shares) at Dec. 31, 2020 | 48,100 | 1,300 | 18,102,583,473 | |||||||||||
Proceeds from issuance of Series 1A Preferred Stock | 2,500,000 | 2,500,000 | ||||||||||||
Proceeds from issuance of Series 1A Preferred Stock (in shares) | 2,500 | |||||||||||||
Proceeds from issuance of Common Stock | 3,000,000 | $ 7,500 | 2,992,500 | |||||||||||
Proceeds from issuance of Common Stock (in shares) | 75,000,000 | |||||||||||||
Conversion of shares | $ 5,800,000 | $ 16,800 | $ 5,783,200 | |||||||||||
Conversion of shares (in shares) | 168,000,000 | |||||||||||||
Relieved on Conversion of Derivative Liability | 1,686,079 | 1,686,079 | ||||||||||||
Net Income (Loss) | 153,445 | 153,445 | ||||||||||||
Ending balance at Jun. 30, 2021 | (7,052,679) | $ 5 | $ 1,834,558 | 412,742,098 | (421,629,340) | |||||||||
Ending balance (in shares) at Jun. 30, 2021 | 48,100 | 3,800 | 18,345,583,473 | |||||||||||
Beginning balance at Dec. 31, 2020 | (20,192,203) | $ 5 | $ 1,810,258 | 399,780,319 | (421,782,785) | |||||||||
Beginning balance (in shares) at Dec. 31, 2020 | 48,100 | 1,300 | 18,102,583,473 | |||||||||||
Net Income (Loss) | (2,411,469) | |||||||||||||
Ending balance at Sep. 30, 2021 | (4,617,593) | $ 5 | $ 1,967,891 | 417,608,765 | (424,194,254) | |||||||||
Ending balance (in shares) at Sep. 30, 2021 | 48,100 | 3,700 | 19,678,916,809 | |||||||||||
Beginning balance at Jun. 30, 2021 | (7,052,679) | $ 5 | $ 1,834,558 | 412,742,098 | (421,629,340) | |||||||||
Beginning balance (in shares) at Jun. 30, 2021 | 48,100 | 3,800 | 18,345,583,473 | |||||||||||
Proceeds from issuance of Common Stock | 5,000,000 | $ 33,333 | 4,966,667 | |||||||||||
Proceeds from issuance of Common Stock (in shares) | 333,333,336 | |||||||||||||
Conversion of shares | $ 100,000 | $ (100,000) | ||||||||||||
Conversion of shares (in shares) | (100) | 1,000,000,000 | ||||||||||||
Net Income (Loss) | (2,564,914) | (2,564,914) | ||||||||||||
Ending balance at Sep. 30, 2021 | $ (4,617,593) | $ 5 | $ 1,967,891 | $ 417,608,765 | $ (424,194,254) | |||||||||
Ending balance (in shares) at Sep. 30, 2021 | 48,100 | 3,700 | 19,678,916,809 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Activities: | ||
Net income/(loss) | $ (2,411,469) | $ 7,625,853 |
Adjustments to reconcile net income (loss) to cash used in operating activities: | ||
Depreciation and amortization | 40,047 | 137,978 |
Operating lease asset amortization | 482,945 | 28,710 |
Realized (gain) on sale and foreclosure of assets | (3,314,966) | |
Amortization of deferred financing costs | 2,692 | |
Non-cash interest expense | 807,368 | |
Amortization of debt discount | 837,767 | 1,331,417 |
Bad debt expense | (141) | |
Warranty reserve | 7,082 | (7,654) |
Change in fair value of derivatives and gain on extinguishment of liabilities, net | (4,047,993) | (8,707,333) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 1,568 | (5,608) |
Inventories | (81,243) | 23,843 |
Prepaid expenses and other current assets | (243,155) | (283,912) |
Accounts payable | (86,266) | (388,113) |
Related party payable | (90,834) | |
Operating lease liabilities | (427,764) | (16,129) |
Accrued interest | 44,461 | 1,008,568 |
Accrued expenses | (252,959) | 283,439 |
Net cash (used in) operating activities | (6,227,813) | (1,473,988) |
Investing Activities: | ||
Proceeds on sale of assets | 254,600 | |
Payments on purchase of assets | (176,466) | |
Patent activity costs | 17,648 | (156) |
Net cash (used in) provided by investing activities | (158,818) | 254,444 |
Financing Activities: | ||
Repayment of debt | (145,000) | |
Proceeds from issuance of debt | 443,200 | |
Proceeds from issuance of stock | 10,500,000 | 2,000,000 |
Net cash provided by financing activities | 10,500,000 | 2,298,200 |
Net change in cash and cash equivalents | 4,113,369 | 1,078,656 |
Cash and cash equivalents at beginning of period | 167,725 | |
Cash and cash equivalents at end of period | 4,281,094 | 1,078,656 |
Non-Cash Transactions: | ||
Non-cash conversions of preferred stock and convertible notes to equity | 5,800,000 | 47,132 |
Non-cash forgiveness of PPP loan | $ 193,200 | |
Operating lease assets obtained in exchange for operating lease liabilities | (5,819,489) | |
Non-cash mortgage derecognition | (6,443,897) | |
Non-cash property foreclosure | $ 6,443,897 |
ORGANIZATION
ORGANIZATION | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
ORGANIZATION | NOTE 1. ORGANIZATION Ascent Solar Technologies, Inc. and its wholly owned subsidiary, Ascent Solar (Asia) Pte. Ltd. (collectively, the “Company") is focusing on integrating its PV products into high value markets such as aerospace, satellites, near earth orbiting vehicles, and fixed wing unmanned aerial vehicles (“UAV”). The value proposition of Ascent’s proprietary solar technology not only aligns with the needs of customers in these industries, but also overcomes many of the obstacles other solar technologies face in these unique markets. Ascent has the capability to design and develop finished products for end users in these areas as well as collaborate with strategic partners to design and develop custom integrated solutions for products like fixed-wing UAVs. Ascent sees significant overlap of the needs of end users across some of these industries and can achieve economies of scale in sourcing, development, and production in commercializing products for these customers. On September 15, 2021, the Company entered into a Long-Term Supply and Joint Development Agreement (“JDA”) with TubeSolar AG (“TubeSolar”), a significant existing stakeholder in the Company. Under the terms of the JDA, the Company will produce, and TubeSolar will purchase, thin-film photovoltaic (“PV”) foils (“PV Foils”) for use in TubeSolar’s solar modules for agricultural photovoltaic (“APV”) applications that require solar foils for its production. Under the JDA, the Company will receive up (i) to $4 million of non-recurring engineering (“NRE”) fees, (ii) up to $13.5 million of payments upon achievement of certain agreed production and cost structure milestones, and (iii) product revenues from sales of PV Foils to TubeSolar. The JDA has no fixed term, and may only be terminated by either party for breach. There has been no activity under the JDA as of September 30, 2021. The Company and TubeSolar have also jointly established a subsidiary company in Germany, in which TubeSolar holds a minority stake of 30% (the “JV”). The purpose of the JV is to establish and operate a PV manufacturing facility in Germany that will produce and deliver PV Foils exclusively to TubeSolar. Until the JV facility is fully operational, PV Foils will be manufactured in the Company’s existing facility in Thornton, Colorado. The parties expect to jointly develop next generation tooling for use in manufacturing PV Foils at the JV facility. The Company is required to purchase 17,500 shares of the JV for 1 Euro per share, which has not been funded as of September 30, 2021. There has been no activity under the JV as of September 30, 2021. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 2. BASIS OF PRESENTATION The accompanying, unaudited, condensed consolidated financial statements have been derived from the accounting records of the Company as of September 30, 2021 and December 31, 2020, and the results of operations for the three and nine months ended September 30, 2021 and 2020. All significant inter-company balances and transactions have been eliminated in the accompanying condensed consolidated financial statements. The accompanying, unaudited, condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, these interim financial statements do not include all of the information and footnotes typically found in U.S. GAAP audited annual financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. The Condensed Consolidated Balance Sheet at December 31, 2020 has been derived from the audited financial statements as of that date but does not include all of the information and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. These condensed consolidated financial statements and notes should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies were described in Note 3 to the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There have been no significant changes to our accounting policies as of September 30, 2021. Derivatives: The Company evaluates its financial instruments under FASB ASC 815, "Derivatives and Hedging" to determine whether the instruments contain an embedded derivative. When an embedded derivative is present, the instrument is evaluated for a fair value adjustment upon issuance and at the end of every reporting period. Any adjustments to fair value are treated as gains and losses in fair values of derivatives and are recorded in the Condensed Consolidated Statements of Operations. Refer to Notes 8, 10 and 11 for further discussion on the embedded derivatives of each instrument. Paycheck Protection Program Loan: The Company has elected to account for the forgivable loan received under the Paycheck Protection Program (“PPP”) provisions of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as a debt instrument and to accrue interest on the outstanding loan balance. Additional interest at a market rate (due to the stated interest rate of the PPP loan being below market) is not imputed, as the transactions where interest rates prescribed by governmental agencies are excluded from the scope of accounting guidance on imputing interest. The proceeds from the loan will remain recorded as a liability until either (1) the loan is, in part or wholly, forgiven and the Company has been legally released or (2) the Company repays the loan to the lender. Refer to Note 9 for further discussion. Earnings per Share: Earnings per share (“EPS”) are the amount of earnings attributable to each share of common stock. Basic EPS has been computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. Income available to common stockholders has been computed by deducting dividends accumulated for the period on cumulative preferred stock (whether or not earned) from net income. Diluted earnings per share has been computed by dividing net income adjusted on an if-converted basis for the period by the weighted average number of common shares and potentially dilutive common share outstanding (which consist of options and convertible securities using the treasury stock method or the if-converted method, as applicable, to the extent they are dilutive). Approximately 144 billion and 939 billion shares of dilutive shares were excluded from the three and nine months periods ended September 30, 2021 EPS calculation, respectively, as their impact is antidilutive. There were approximately 67 billion and 66 billion shares of dilutive shares for the three and nine months periods ended September 30, 2020, respectively. Recently Adopted or to be Adopted Accounting Policies In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity Other new pronouncements issued but not effective as of September 30, 2021 are not expected to have a material impact on the Company’s condensed consolidated financial statements. |
LIQUIDITY, CONTINUED OPERATIONS
LIQUIDITY, CONTINUED OPERATIONS, AND GOING CONCERN | 9 Months Ended |
Sep. 30, 2021 | |
Liquidity And Continued Operations [Abstract] | |
LIQUIDITY, CONTINUED OPERATIONS, AND GOING CONCERN | NOTE 4. LIQUIDITY, CONTINUED OPERATIONS, AND GOING CONCERN During the nine months ended September 30, 2021 and the year ended December 31, 2020, the Company entered into multiple financing agreements to fund operations. Further discussion of these transactions can be found in Notes 9, 10, 11 and 14 of the financial statements presented as of, and for, the nine months ended September 30, 2021, and in Notes 8, 9, 10, 11, 12, 15 and 22 of the financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The Company has continued limited PV production at its manufacturing facility. The Company does not expect that sales revenue and cash flows will be sufficient to support operations and cash requirements until it has fully implemented its product strategy. During the nine months ended September 30, 2021 the Company used $6,227,813 in cash for operations . Additional projected product revenues are not anticipated to result in a positive cash flow position for the next twelve months overall and, as of September 30, 2021, the Company has working capital of $1,755,422. As such, cash liquidity is not sufficient for the next twelve months and will require additional financing. As a result of the Company’s recurring losses from operations and the need for additional financing to fund its operating and capital requirements, there is uncertainty regarding the Company’s ability to maintain liquidity sufficient to operate its business effectively, which raises doubt as to the Company’s ability to continue as a going concern. The Company scaled down its operations in 2019 and 2020, due to cash flow issues. During 2021, the Company secured additional financing to being ramping up operations. However, additional financing will be needed to continue this process. Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended |
Sep. 30, 2021 | |
Property Plant And Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT | NOTE 5. PROPERTY, PLANT AND EQUIPMENT The following table summarizes property, plant and equipment as of September 30, 2021 and December 31, 2020: As of September 30, As of December 31, 2021 2020 Furniture, fixtures, computer hardware and computer software $ 437,532 $ 489,421 Manufacturing machinery and equipment 23,607,580 - Manufacturing machinery and equipment, in progress 103,080 24,377,755 Depreciable property, plant and equipment 24,148,192 24,867,176 Less: Accumulated depreciation and amortization (23,964,362 ) (24,848,408 ) Net property, plant and equipment $ 183,830 $ 18,768 The Company analyzes its long-lived assets for impairment, both individually and as a group, whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Depreciation expense for the three months ended September 30, 2021 and 2020 was $5,956 and $15,316, respectively. Depreciation expense for the nine months ended September 30, 2021 and 2020 was $11,404 and $103,014, respectively. Depreciation expense is recorded under “Depreciation and amortization expense” in the unaudited Condensed Consolidated Statements of Operations. On July 29, 2020 the Company’s owned facility at 12300 Grant Street, Thornton, CO 80241 (the “Building”) was foreclosed by the Building’s first lien holder (“Mortgage Holder”) and sold at public auction. The successful bidder for the Building was the Mortgage Holder, at the price of $7.193 million. As a result, the Company’s obligations to Mortgage Holder and all of the Company’s outstanding real property taxes on the Building were considered fully repaid. On September 21, 2020, the Company entered into a lease agreement with 12300 Grant LLC (“Landlord”), an affiliated company of the Mortgage Holder, for approximately 100,000 rentable square feet of the Building (the “Lease”). The lease is classified as an operating lease and accounted for accordingly. The Lease term is for 88 months and commenced on September 21, 2020 at a rent of $50,000 per month including taxes, insurance and common area maintenance until December 31, 2020. Beginning January 1, 2021, the rent adjusted to $80,000 per month on a triple net basis and shall increase at an annual rate of 3% per annum until December 31, 2027. At September 30, 2021, the Company recorded an operating lease asset and liability totaling $5,150,718 and $5,326,869, respectively. During the three and nine months ended September 30, 2021, the Company recorded operating lease costs included in Selling, general, and administrative expense on the Condensed Consolidated Statement of Operations totaling $258,392 and $775,177, respectively. During the three months ended September 30, 2020, the Company recorded operating lease costs included in Selling, general, and administrative expense on the Condensed Consolidated Statement of Operations totaling $ 28,710 . Future maturities of the operating lease liability are as follows: Remainder of 2021 $ 240,000 2022 988,800 2023 1,018,464 2024 1,049,018 2025 1,080,488 Thereafter 2,259,194 Total lease payments 6,635,964 Less amounts representing interest (1,309,095 ) Present value of lease liability $ 5,326,869 The remaining lease term and discount rate of the operating lease is 75.5 months and 7.0%, respectively. |
INVENTORIES
INVENTORIES | 9 Months Ended |
Sep. 30, 2021 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | NOTE 6. INVENTORIES Inventories, net of reserves, consisted of the following at September 30, 2021 and December 31, 2020: As of September 30, As of December 31, 2021 2020 Raw materials $ 614,656 $ 525,626 Work in process 992 - Finished goods 26 8,805 Total $ 615,674 $ 534,431 |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE 7. NOTES PAYABLE On June 30, 2017, the Company entered into an agreement with a vendor (“Vendor”) to convert the balance of their account into a note payable in the amount of $250,000. The note bears interest of 5% per annum and matured on February 28, 2018. As of September 30, 2021, the Company had not made any payments on this note, the accrued interest was $53,185, and the note is due upon demand. To the best of our knowledge, Vendor has not made any attempts to recover any amount owing to them since 2019. |
SECURED PROMISSORY NOTES
SECURED PROMISSORY NOTES | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
SECURED PROMISSORY NOTES | NOTE 8. SECURED PROMISSORY NOTES Global Ichiban Secured Promissory Notes Prior to 2021, the Company had issued a secured convertible promissory note to Global Ichiban Limited (“Global”) that had a remaining principal balance of $5,800,000, and no accrued interest, as of January 1, 2021. The note was to mature on September 30, 2022. Principal, if not converted, was to be payable in a lump sum on September 30, 2022. The note did not bear any interest. Customary default provisions applied. The note was secured by a lien on substantially all of the Company’s assets pursuant to the Security Agreement dated November 30, 2017 (the “Security Agreement”) entered into between the Company and Global. The conversion option associated with the note was deemed to include an embedded derivative that required bifurcation and separate accounting. Refer to Note 11. Derivative Liabilities for further details. On March 9, 2021, the Company entered into a settlement agreement (“Settlement”) with Global. Pursuant to the Settlement, the Company issued 168,000,000 shares of Common Stock of the Company (“Settlement Shares”) to Global in exchange for the cancellation of the outstanding secured promissory note of $5,800,000 (the “Secured Note”). The Secured Note, which was originally scheduled to mature on September 30, 2022, had a variable-rate conversion feature that entitled Global to convert into shares of Common Stock of the Company at 80 % of the 5-day average closing bid-price prior to any conversion. The Secured Note also had a lien on substantially all of the Company’s assets including intellectual properties. Following the Settlement, the lien was removed and the Company’s assets are currently unencumbered. |
PROMISSORY NOTES
PROMISSORY NOTES | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
PROMISSORY NOTES | NOTE 9. PROMISSORY NOTES SBA PPP On April 17, 2020, the Company obtained a PPP Loan from Vectra Bank Colorado (“Vectra”) in the aggregate amount of $193,200, which was established under the CARES Act, as administered by the Small Business Association (“SBA”). Under the terms of the CARES Act and the PPP, all or a portion of the principal amount of the PPP Loan is subject to forgiveness so long as, over the 24-week period following the Company’s receipt of the proceeds of the PPP Loan, the Company uses those proceeds for payroll costs, rent, utility costs or the maintenance of employee and compensation levels. The PPP Loan is unsecured, guaranteed by the SBA, and has a two-year |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES | NOTE 10. CONVERTIBLE NOTES The following table provides a summary of the activity of the Company's unsecured, convertible, promissory notes: Principal Balance 12/31/2020 Less: Discount Balance Net Principal Balance 12/31/2020 Principal Balance 9/30/2021 Less: Discount Balance Net Principal Balance 9/30/2021 BD 1 Notes (related party) $ 10,500,000 $ (2,936,952 ) $ 7,563,048 $ 9,900,000 $ (2,351,060 ) $ 7,548,940 Nanyang Notes - - - 600,000 (142,488 ) 457,512 Crowdex Note (related party) 250,000 — 250,000 250,000 — 250,000 $ 10,750,000 $ (2,936,952 ) $ 7,813,048 $ 10,750,000 $ (2,493,548 ) $ 8,256,452 Penumbra/Crowdex Convertible Note As of January 1, 2021, Crowdex Investment, LLC (“Crowdex”) held a convertible promissory note with an aggregate principal balance of $250,000. The aggregate principal amount (together with accrued interest) was scheduled to mature on June 9, 2021; however, the Company and Crowdex agreed to extend maturity by one year to June 9, 2022. The note bears interest at a rate of 6% per annum. The interest rate increases to 18% in the event of default. The note is convertible, at the holder’s option, into shares of the Company’s Common Stock at a conversion price equal to $0.0001 per share. At September 30, 2021, the note had a principal balance of $250,000 and an accrued interest balance of $19,644. BD 1 Convertible Note During September 2020, a number of the Company’s investors entered into assignment agreements to sell their existing debt to BD 1 Investment Holding, LLC (“BD 1”) resulting in BD 1 acquiring outstanding promissory notes with principal and accrued interest balances of approximately $6.3 million and $1.3 million, respectively. On December 18, 2020, the Company entered into a securities exchange agreement (“BD1 Exchange Agreement”) with BD 1. Pursuant to the terms of the BD1 Exchange Agreement, BD 1 agreed to surrender and exchange all of its outstanding promissory notes with principal and accrued interest balances of approximately $6.3 million and $1.3 million, respectively. Default penalties related to the notes of approximately $2.9 million were not designated. In exchange, the Company issued to BD 1 two unsecured convertible notes with an aggregate principal amount of $10,500,000 (“BD1 Exchange Notes”), and recorded an original issue discount of approximately $3.0 million, which will be recognized as interest expense, ratably, over the life of the note. The BD1 Exchange Notes do not bear any interest, and will mature on December 18, 2025. BD 1 has the right, at any time until the BD1 Exchange Notes are fully paid, to convert any outstanding and unpaid principal into shares of common stock at a fixed conversion price equal to $0.0001 per share. Accordingly, the Company would issue 105,000,000,000 shares of common stock upon a full conversion of the BD 1 Exchange Notes. BD 1 has agreed not to effect any conversion of the Notes without the prior consent of the Company unless and until the Company has created additional authorized and issued common shares sufficient to convert all of the Notes in full. On August 13, 2021, BD 1 assigned $600,000 of its outstanding principal balance to Nanyang Investment Management Pte Ltd (“Nanyang”). Subsequent to this assignment, BD 1 held notes with an aggregate principal amount of $9,900,000 convertible to 99,000,000,000 shares of common stock. Nanyang Convertible Note On August 13, 2021, as discussed above, BD 1 assigned $600,000 of the BD 1 Exchange Notes to Nanyang. This note does not bear any interest and will mature on December 18, 2025. Nanyang has the right, at any time until the note is fully paid, to convert any outstanding and unpaid principal into share of common stock at a fixed conversion price equal to $0.0001 per share. Accordingly, the Company would issue 6,000,000,000 common shares upon full conversion of this note. Shares of common stock may not be issued pursuant to this note if, after giving effect to the conversion or issuance, Nanyang, together with its affiliates, would beneficially own in excess of 4.99% of the outstanding shares of the Company’s common stock. Subsequent to September 30, 2021, the debt with Nanyang was partially converted into common stock. Refer to the Nanyang Conversion |
DERIVATIVE LIABILITIES
DERIVATIVE LIABILITIES | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
DERIVATIVE LIABILITIES | NOTE 11. DERIVATIVE LIABILITIES The following table is a summary of the derivative liability activity for the nine months ended September 30, 2021: Derivative Liability Balance as of December 31, 2020 $ 5,303,984 Liability extinguished (5,303,984 ) Derivative Liability Balance as of September 30, 2021 $ — Convertible Notes Assigned to BD 1 The convertible notes that were assigned to BD 1 in September 2020 and were partially assigned to Nanyang in August 2021, further described above in Note 10, were exchanged for new notes on December 18, 2020, as part of the Company’s recapitalization and restructuring effort which began in June 2020. Prior to the exchange, pursuant to a number of factors outlined in ASC Topic 815, Derivatives and Hedging At December 31, 2019, the aggregate derivative liability associated with these notes was $5,706,175. This value was derived from Management’s fair value assessment using the following assumptions: annual volatility range of 42% to 46%, present value discount rate of 12%, and a dividend yield of 0%. In 2020, pursuant to ASC Topic 815, Derivatives and Hedging Convertible Notes held by Global Ichiban In connection with the convertible notes held by Global, further described above in Note 8, pursuant to a number of factors outlined in ASC Topic 815, Derivatives and Hedging At December 31, 2019, the aggregate derivative liability associated with these notes was $2,010,975. This value was derived from Management’s fair value assessment using the following assumptions: annual volatility of 46%, present value discount rate of 12%, and a dividend yield of 0%. The conversion option in the GI Exchange Note was deemed to include an embedded derivative that required bifurcation and separate accounting. As such, the Company ascertained the value of the conversion option as if separate from the convertible issuance based on the following assumptions: annual volatility of 49%, expected interest rate of 1.52%, and a dividend yield of 0%, and appropriately recorded that value as a derivative liability. At September 9, 2020, the derivative liability associated with the Global note was $447,903. The fair value of the derivative was recorded as a debt discount and will be charged to interest over the life of the note. The derivative liability associated with the note is subject to revaluation on a quarterly basis to reflect the market value change of the embedded conversion option. Management assessed the fair value option of this embedded derivative, as of December 31, 2020, using the following assumptions: annual volatility of 62%, and a dividend yield of 0%. As a result of the fair value assessments, the Company recorded an aggregate net loss of $2,845,106 for the year ended December 31, 2020, as “Change in fair value of derivatives and gain/loss on extinguishment of liabilities, net” in the Consolidated Statement of Operations to properly reflect that the value of the embedded derivative of $5,303,984 as of December 31, 2020. On March 9, 2021, the Company entered into a settlement agreement with Global, further described above in Note 8. As a result of the settlement, the entire debt was cancelled and the Company recorded an aggregate net gain of $5,303,984 for the three months ended March 31, 2021, as “Change in fair value of derivatives and gain/loss on extinguishment of liabilities, net” in the Condensed Consolidated Statement of Operations to properly reflect that the value of the embedded derivative had been eliminated. |
SERIES A PREFERRED STOCK
SERIES A PREFERRED STOCK | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Series A Preferred Stock | NOTE 12. SERIES A PREFERRED STOCK In June 2013, the Company entered into a Securities Purchase Agreement with an investor to sell an aggregate of $750,000 shares of Series A Preferred Stock at a price of $8.00 per share, resulting in gross proceeds of $6.0 million. This purchase agreement included warrants to purchase up to 13,125 shares of common stock of the Company. The transfer of cash and securities took place incrementally, the first closing occurring on June 17, 2013 with the transfer of 125,000 shares of Series A Preferred Stock and a warrant to purchase 2,187 shares of common stock for $1.0 million. The final closings took place in August 2013, with the transfer of 625,000 shares of Series A Preferred Stock and a warrant to purchase 10,938 shares of common stock for $ 5.0 million. Holders of Series A Preferred Stock are entitled to cumulative dividends at a rate of 8% per annum when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 10% below market price, but not to exceed the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series A Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series A Preferred Stock contains a make-whole provision whereby, conversion or redemption of the preferred stock within 4 years of issuance will require dividends for the full four year period to be paid by the Company in cash or common stock (valued at 10% below market price, but not to exceed the lowest closing price during the applicable measurement period). This make-whole provision expired in June 2017. The Series A Preferred Stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $232, as adjusted, for twenty consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series A Preferred Stock at a price of $8.00 per share, plus any accrued and unpaid dividends, plus the make-whole amount (if applicable). At September 30, 2021, the preferred shares were not eligible for conversion to common shares at the option of the Company. The holder of the preferred shares may convert to common shares at any time, at no cost, at a ratio of 1 preferred share into 1 common share (subject to standard ratable anti-dilution adjustments). Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends. Except as otherwise required by law (or with respect to approval of certain actions), the Series A Preferred Stock shall have no voting rights. Upon any liquidation, dissolution or winding up of the Company, after payment or provision for payment of debts and other liabilities of the Company, the holders of Series A Preferred Stock shall be entitled to receive, pari passu with any distribution to the holders of common stock of the Company, an amount equal to $8.00 per share of Series A Preferred Stock plus any accrued and unpaid dividends. As of September 30, 2021, there were 48,100 shares of Series A Preferred Stock outstanding and accrued and unpaid dividends of $404,441. |
SERIES 1A PREFERRED STOCK
SERIES 1A PREFERRED STOCK | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
SERIES 1A PREFERRED STOCK | NOTE 13. SERIES 1A PREFERRED STOCK Series 1A Preferred Stock – Tranche 1 Closing On September 22, 2020, the Company entered into a securities purchase agreement (“Series 1A SPA”) with Crowdex, for the private placement of up to $5,000,000 of the Company’s newly designated Series 1A Convertible Preferred Stock (“Series 1A Preferred Stock”). Each share of Series 1A Preferred Stock has an original issue price of $1,000 per share. Shares of the Series 1A Preferred Stock are convertible into common stock at a fixed conversion price equal to $0.0001 per common share, subject to standard ratable anti-dilution adjustments. Outstanding shares of Series 1A Preferred Stock are entitled to vote together with the holders of common stock as a single class (on an as-converted to common stock basis) on any matter presented to the stockholders of the Company for their action or consideration at any meeting of stock holders (or written consent of stockholders in lieu of meeting). Holders of the Series 1A Preferred Stock are not entitled to any fixed rate of dividends. If the Company pays a dividend or otherwise makes a distribution payable on shares of common stock, holders of the Series 1A Preferred Stock will receive such dividend or distribution on an as-converted to common stock basis. There are no specified redemption rights for the Series 1A Preferred Stock. Upon liquidation, dissolution or winding up, holders of Series 1A Preferred Stock will be entitled to be paid out of our assets, prior to the holders of our common stock, an amount equal to $1,000 per share plus any accrued but unpaid dividends (if any) thereon. The Company sold 2,000 shares of Series 1A Preferred Stock to Crowdex in exchange for $2,000,000 of gross proceeds at an initial closing under the Series 1A SPA on September 22, 2020. In November 2020, Crowdex converted 1,200 shares of outstanding Series 1A Preferred Stock into 12,000,000,000 shares of common stock. On December 31, 2020 the Company sold 500 shares of Series 1A Preferred Stock to Crowdex in exchange for the cancellation of the Crowdex Note issued on November 27, 2020. There were no additional cash proceeds from this closing. On January 4, 2021, the Company entered into a securities purchase agreement (“Series 1ATranche 2 SPA”) with TubeSolar AG, a developer of photovoltaic thin-film tubes to enable additional application opportunities in solar power generation compared to conventional solar modules (“TubeSolar”). Pursuant to the Series 1A Tranche 2 SPA, the Company sold 2,500 shares of Series 1A Preferred Stock to TubeSolar and received $2,500,000 of gross proceeds on January 5, 2021. During the three months ended September 31, 2021, TubeSolar converted 100 shares of Series 1A Preferred Stock into 1,000,000,000 shares of common stock. |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY (DEFICIT) | NOTE 14. STOCKHOLDERS’ EQUITY (DEFICIT) Common Stock During September 2021, the Company increased its authorized shares from 20 billion to 30 billion of common stock. As such, at September 30, 2021, the Company had 30 billion shares of common stock, $0.0001 par value, authorized for issuance. Each share of common stock has the right to one vote. As of September 30, 2021, the Company had 19,678,916,809 shares of common stock outstanding. The Company has not declared or paid any dividends related to the common stock through September 30, 2021. On August 2, 2021, the Company entered into a common stock purchase agreement (“Common Stock SPA”) with BD 1 for the placement of 666,666,672 shares of the Company’s common stock at a fixed purchase price of $0.015 per share for an aggregate purchase price of $10,000,000. The first tranche of 333,333,336 shares for $5,000,000 closed on September 2, 2021 and the second tranche will close on or before October 31, 2021 (if the Company has authorized but unissued common stock sufficient to issue all of the second tranche shares) or within five business days after the effective date when the Company has sufficient unissued common stock. Subsequent to September 30, 2021, the second tranche of the Common Stock SPA with BD 1 closed. Refer to the Tranche 2 Closing Preferred Stock At September 30, 2021, the Company had 25,000,000 shares of preferred stock, $0.0001 par value, authorized for issuance. Preferred stock may be issued in classes or series. Designations, powers, preferences, rights, qualifications, limitations and restrictions are determined by the Company’s Board of Directors. The following table summarizes the designations, shares authorized, and shares outstanding for the Company's Preferred Stock: Preferred Stock Series Designation Shares Authorized Shares Outstanding Series A 750,000 48,100 Series 1A 5,000 3,700 Series B-1 2,000 — Series B-2 1,000 — Series C 1,000 — Series D 3,000 — Series D-1 2,500 — Series E 2,800 — Series F 7,000 — Series G 2,000 — Series H 2,500 — Series I 1,000 — Series J 1,350 — Series J-1 1,000 — Series K 20,000 — Series A Preferred Stock Refer to Note 12 for Series A Preferred Stock activity. Series 1A Preferred Stock Refer to Note 13 for Series 1A Preferred Stock activity. Series B-1, B-2, C, D, D-1, E, F, G, H, I, J, J-1, and K Preferred Stock There were no transactions involving the Series B-1, B-2, C, D, D-1, E, F, G, H, I, J, J-1, or K during the three and nine months ended September 30, 2021 and 2020. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 15. SUBSEQUENT EVENTS Nanyang Conversion On October 13, 2021, $100,000 of Nanyang’s convertible notes were converted into 1,000,000,000 shares of common stock. Common Stock SPA – Tranche 2 Closing Between October 29 and November 5, 2021, the Company received aggregate payments of $5,000,000 and issued 333,333,336 total shares of common stock for the second tranche of the Common Stock SPA. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Derivatives | Derivatives: The Company evaluates its financial instruments under FASB ASC 815, "Derivatives and Hedging" to determine whether the instruments contain an embedded derivative. When an embedded derivative is present, the instrument is evaluated for a fair value adjustment upon issuance and at the end of every reporting period. Any adjustments to fair value are treated as gains and losses in fair values of derivatives and are recorded in the Condensed Consolidated Statements of Operations. Refer to Notes 8, 10 and 11 for further discussion on the embedded derivatives of each instrument. |
Paycheck Protection Program Loan | Paycheck Protection Program Loan: The Company has elected to account for the forgivable loan received under the Paycheck Protection Program (“PPP”) provisions of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as a debt instrument and to accrue interest on the outstanding loan balance. Additional interest at a market rate (due to the stated interest rate of the PPP loan being below market) is not imputed, as the transactions where interest rates prescribed by governmental agencies are excluded from the scope of accounting guidance on imputing interest. The proceeds from the loan will remain recorded as a liability until either (1) the loan is, in part or wholly, forgiven and the Company has been legally released or (2) the Company repays the loan to the lender. Refer to Note 9 for further discussion. |
Earnings Per Share | Earnings per Share: Earnings per share (“EPS”) are the amount of earnings attributable to each share of common stock. Basic EPS has been computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. Income available to common stockholders has been computed by deducting dividends accumulated for the period on cumulative preferred stock (whether or not earned) from net income. Diluted earnings per share has been computed by dividing net income adjusted on an if-converted basis for the period by the weighted average number of common shares and potentially dilutive common share outstanding (which consist of options and convertible securities using the treasury stock method or the if-converted method, as applicable, to the extent they are dilutive). Approximately 144 billion and 939 billion shares of dilutive shares were excluded from the three and nine months periods ended September 30, 2021 EPS calculation, respectively, as their impact is antidilutive. There were approximately 67 billion and 66 billion shares of dilutive shares for the three and nine months periods ended September 30, 2020, respectively. |
Recently Adopted or to be Adopted Accounting Policies | Recently Adopted or to be Adopted Accounting Policies In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity Other new pronouncements issued but not effective as of September 30, 2021 are not expected to have a material impact on the Company’s condensed consolidated financial statements. |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Property Plant And Equipment [Abstract] | |
Property, Plant and Equipment | The following table summarizes property, plant and equipment as of September 30, 2021 and December 31, 2020: As of September 30, As of December 31, 2021 2020 Furniture, fixtures, computer hardware and computer software $ 437,532 $ 489,421 Manufacturing machinery and equipment 23,607,580 - Manufacturing machinery and equipment, in progress 103,080 24,377,755 Depreciable property, plant and equipment 24,148,192 24,867,176 Less: Accumulated depreciation and amortization (23,964,362 ) (24,848,408 ) Net property, plant and equipment $ 183,830 $ 18,768 |
Schedule Future Maturities of Operating Lease Liability | Future maturities of the operating lease liability are as follows: Remainder of 2021 $ 240,000 2022 988,800 2023 1,018,464 2024 1,049,018 2025 1,080,488 Thereafter 2,259,194 Total lease payments 6,635,964 Less amounts representing interest (1,309,095 ) Present value of lease liability $ 5,326,869 |
INVENTORIES (Tables)
INVENTORIES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Net of Reserves | Inventories, net of reserves, consisted of the following at September 30, 2021 and December 31, 2020: As of September 30, As of December 31, 2021 2020 Raw materials $ 614,656 $ 525,626 Work in process 992 - Finished goods 26 8,805 Total $ 615,674 $ 534,431 |
CONVERTIBLE NOTES (Tables)
CONVERTIBLE NOTES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible Debt | The following table provides a summary of the activity of the Company's unsecured, convertible, promissory notes: Principal Balance 12/31/2020 Less: Discount Balance Net Principal Balance 12/31/2020 Principal Balance 9/30/2021 Less: Discount Balance Net Principal Balance 9/30/2021 BD 1 Notes (related party) $ 10,500,000 $ (2,936,952 ) $ 7,563,048 $ 9,900,000 $ (2,351,060 ) $ 7,548,940 Nanyang Notes - - - 600,000 (142,488 ) 457,512 Crowdex Note (related party) 250,000 — 250,000 250,000 — 250,000 $ 10,750,000 $ (2,936,952 ) $ 7,813,048 $ 10,750,000 $ (2,493,548 ) $ 8,256,452 |
DERIVATIVE LIABILITIES (Tables)
DERIVATIVE LIABILITIES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Liability Activity | The following table is a summary of the derivative liability activity for the nine months ended September 30, 2021: Derivative Liability Balance as of December 31, 2020 $ 5,303,984 Liability extinguished (5,303,984 ) Derivative Liability Balance as of September 30, 2021 $ — |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Schedule of Stock by Class | The following table summarizes the designations, shares authorized, and shares outstanding for the Company's Preferred Stock: Preferred Stock Series Designation Shares Authorized Shares Outstanding Series A 750,000 48,100 Series 1A 5,000 3,700 Series B-1 2,000 — Series B-2 1,000 — Series C 1,000 — Series D 3,000 — Series D-1 2,500 — Series E 2,800 — Series F 7,000 — Series G 2,000 — Series H 2,500 — Series I 1,000 — Series J 1,350 — Series J-1 1,000 — Series K 20,000 — |
ORGANIZATION - Additional Infor
ORGANIZATION - Additional Information (Details) | Sep. 30, 2021€ / sharesshares | Sep. 15, 2021USD ($) |
JV | ||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||
Shares required to purchase under joint venture | shares | 17,500 | |
Share purchase price per share | € / shares | € 1 | |
JV | TubeSolar AG | ||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||
Minority stake percentage | 30.00% | |
Maximum | Long-Term Supply and Joint Development Agreement | ||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||
Non-recurring engineering fees receivable | $ 4,000,000 | |
Milestones receivable | $ 13,500,000 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - shares shares in Billions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accounting Policies [Abstract] | ||||
Shares omitted from loss per share, anti-dilutive | 144 | 67 | 939 | 66 |
LIQUIDITY, CONTINUED OPERATIO_2
LIQUIDITY, CONTINUED OPERATIONS, AND GOING CONCERN - Additional Information (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Liquidity And Continued Operations [Abstract] | ||
Net cash used in operating activities | $ 6,227,813 | $ 1,473,988 |
Working capital | $ 1,755,422 |
PROPERTY, PLANT AND EQUIPMENT -
PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Property Plant And Equipment [Line Items] | ||
Depreciable property, plant and equipment | $ 24,148,192 | $ 24,867,176 |
Less: Accumulated depreciation and amortization | (23,964,362) | (24,848,408) |
Property, Plant and Equipment, net | 183,830 | 18,768 |
Furniture, fixtures, computer hardware and computer software | ||
Property Plant And Equipment [Line Items] | ||
Depreciable property, plant and equipment | 437,532 | 489,421 |
Manufacturing machinery and equipment | ||
Property Plant And Equipment [Line Items] | ||
Depreciable property, plant and equipment | 23,607,580 | |
Manufacturing machinery and equipment, in progress | ||
Property Plant And Equipment [Line Items] | ||
Depreciable property, plant and equipment | $ 103,080 | $ 24,377,755 |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) | Jan. 01, 2021USD ($) | Sep. 21, 2020USD ($)ft² | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Jul. 29, 2020USD ($) |
Property Plant And Equipment [Line Items] | ||||||||
Depreciation expense | $ 5,956 | $ 15,316 | $ 11,404 | $ 103,014 | ||||
Operating lease asset | 5,150,718 | 5,150,718 | $ 5,633,663 | |||||
Operating lease liability | $ 5,326,869 | $ 5,326,869 | ||||||
Remaining lease term | 75 months 15 days | 75 months 15 days | ||||||
Lease discount rate | 7.00% | 7.00% | ||||||
Selling, General, and Administrative Expense | ||||||||
Property Plant And Equipment [Line Items] | ||||||||
Operating lease costs | $ 258,392 | $ 28,710 | $ 775,177 | |||||
12300 Grant LLC (Landlord) | ||||||||
Property Plant And Equipment [Line Items] | ||||||||
Number of rentable square feet of building | ft² | 100,000 | |||||||
Lease term | 88 months | |||||||
Lease commencement date | Sep. 21, 2020 | |||||||
Rent per month | $ 80,000 | $ 50,000 | ||||||
Percentage of rent increase in annual rate | 3.00% | |||||||
Lease terms description | The lease is classified as an operating lease and accounted for accordingly. The Lease term is for 88 months and commenced on September 21, 2020 at a rent of $50,000 per month including taxes, insurance and common area maintenance until December 31, 2020. Beginning January 1, 2021, the rent adjusted to $80,000 per month on a triple net basis and shall increase at an annual rate of 3% per annum until December 31, 2027. | |||||||
Building | Mortgage Holder | ||||||||
Property Plant And Equipment [Line Items] | ||||||||
Price of building | $ 7,193,000 |
PROPERTY, PLANT AND EQUIPMENT_3
PROPERTY, PLANT AND EQUIPMENT - Schedule Future Maturities of Operating Lease Liability (Details) | Sep. 30, 2021USD ($) |
Operating Lease Liabilities Payments Due [Abstract] | |
Remainder of 2021 | $ 240,000 |
2022 | 988,800 |
2023 | 1,018,464 |
2024 | 1,049,018 |
2025 | 1,080,488 |
Thereafter | 2,259,194 |
Total lease payments | 6,635,964 |
Less amounts representing interest | (1,309,095) |
Present value of lease liability | $ 5,326,869 |
INVENTORIES - Schedule of Inven
INVENTORIES - Schedule of Inventories (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 614,656 | $ 525,626 |
Work in process | 992 | |
Finished goods | 26 | 8,805 |
Total | $ 615,674 | $ 534,431 |
NOTES PAYABLE - Additional Info
NOTES PAYABLE - Additional Information (Details) - Unsecured Debt - Note Payable Conversion - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Jun. 30, 2017 | |
Debt Instrument [Line Items] | ||
Notes payable | $ 250,000 | |
Stated interest rate | 5.00% | |
Interest accrued on convertible debt | $ 53,185 |
SECURED PROMISSORY NOTES - Glob
SECURED PROMISSORY NOTES - Global Ichiban Secured Promissory Notes - Additional Information (Details) - Global Ichiban Limited - Secured Convertible Promissory Notes - USD ($) | Mar. 09, 2021 | Nov. 30, 2017 | Sep. 30, 2021 | Jan. 01, 2021 |
Secured Promissory Note [Line Items] | ||||
Remaining principal amount of notes outstanding | $ 5,800,000 | |||
Accrued interest expense, noncurrent | $ 0 | |||
Security Agreement | ||||
Secured Promissory Note [Line Items] | ||||
Agreement entered date | Nov. 30, 2017 | |||
Debt instrument, maturity date | Sep. 30, 2022 | |||
Settlement Agreement | ||||
Secured Promissory Note [Line Items] | ||||
Agreement entered date | Mar. 9, 2021 | |||
Debt instrument, maturity date | Sep. 30, 2022 | |||
Debt conversion of outstanding secured promissory note | $ 5,800,000 | |||
Debt conversion, average lowest closing price | 80.00% | |||
Number of days period in consideration of conversion of the notes | 5 days | |||
Settlement Agreement | Common Stock | ||||
Secured Promissory Note [Line Items] | ||||
Number of common stock shares issued in exchange for cancellation of secured notes | 168,000,000 |
PROMISSORY NOTES - Additional I
PROMISSORY NOTES - Additional Information (Details) - USD ($) | Sep. 04, 2021 | Apr. 17, 2020 | Sep. 30, 2021 |
Short Term Debt [Line Items] | |||
Proceeds from issuance of debt | $ 193,200 | ||
Unsecured Debt | SBA PPP | Vectra | |||
Short Term Debt [Line Items] | |||
Proceeds from issuance of debt | $ 193,200 | ||
Debt instrument, term | 2 years | ||
Debt instrument, maturity date | Apr. 17, 2022 | ||
Debt instrument, payment terms | Interest accrues on the loan beginning with the initial disbursement; however, payments of principal and interest are deferred until Vectra’s determination of the amount of forgiveness applied for by the Company is approved by the SBA. If the Company does not apply for forgiveness within 10 months after the last day of the covered period (defined, at the Company’s election as 24 weeks), such payments will be due that month. | ||
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities,net including the accrued interest | $ 195,852 |
CONVERTIBLE NOTES - Schedule of
CONVERTIBLE NOTES - Schedule of Convertible Notes (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Instrument Principal Roll Forward | ||
Net Principal Balance | $ 250,000 | |
Convertible Debt | BD 1 Notes (related party) | ||
Debt Instrument Principal Roll Forward | ||
Principal Balance | 9,900,000 | $ 10,500,000 |
Less: Discount Balance | (2,351,060) | (2,936,952) |
Net Principal Balance | 7,548,940 | 7,563,048 |
Convertible Debt | Nanyang Notes | ||
Debt Instrument Principal Roll Forward | ||
Principal Balance | 600,000 | 0 |
Less: Discount Balance | (142,488) | 0 |
Net Principal Balance | 457,512 | 0 |
Convertible Debt | Crowdex Note (related party) | ||
Debt Instrument Principal Roll Forward | ||
Principal Balance | 250,000 | 250,000 |
Less: Discount Balance | 0 | 0 |
Net Principal Balance | 250,000 | 250,000 |
Convertible Debt | Convertible Notes | ||
Debt Instrument Principal Roll Forward | ||
Principal Balance | 10,750,000 | 10,750,000 |
Less: Discount Balance | (2,493,548) | (2,936,952) |
Net Principal Balance | $ 8,256,452 | $ 7,813,048 |
CONVERTIBLE NOTES - Crowdex Con
CONVERTIBLE NOTES - Crowdex Convertible Note - Additional Information (Details) - Crowdex Convertible Note - USD ($) | Jan. 01, 2021 | Sep. 30, 2021 |
Short Term Debt [Line Items] | ||
Aggregate principal amount of notes outstanding | $ 250,000 | $ 250,000 |
Debt instrument, maturity date | Jun. 9, 2021 | |
Stated interest rate | 6.00% | |
Default interest rate | 18.00% | |
Conversion price (in dollars per share) | $ 0.0001 | |
Accrued interest | $ 19,644 |
CONVERTIBLE NOTES - BD 1 Conver
CONVERTIBLE NOTES - BD 1 Convertible Note - Additional Information (Details) - BD1 Exchange Agreement | Aug. 14, 2021USD ($)shares | Aug. 13, 2021USD ($)$ / sharesshares | Dec. 18, 2020USD ($)debt_instrument$ / sharesshares | Sep. 30, 2020USD ($) |
BD1 Investment Holding LLC | ||||
Short Term Debt [Line Items] | ||||
Conversion price (in dollars per share) | $ / shares | $ 0.0001 | |||
Debt conversion, converted instrument, shares issued | shares | 105,000,000,000 | |||
BD1 Investment Holding LLC | Promissory Note | ||||
Short Term Debt [Line Items] | ||||
Repurchase amount | $ 6,300,000 | $ 6,300,000 | ||
Accrued interest | 1,300,000 | $ 1,300,000 | ||
BD1 Investment Holding LLC | Promissory Note | Not Designated | ||||
Short Term Debt [Line Items] | ||||
Default interest penalties related to convertible notes | $ 2,900,000 | |||
BD1 Investment Holding LLC | Unsecured Convertible Notes | ||||
Short Term Debt [Line Items] | ||||
Number of unsecured convertible notes | debt_instrument | 2 | |||
Remaining principal amount of notes outstanding | $ 9,900,000 | $ 10,500,000 | ||
Unamortized discount | $ 3,000,000 | |||
Debt instrument, maturity date | Dec. 18, 2025 | |||
Debt conversion, converted instrument, shares issued | shares | 99,000,000,000 | |||
Nanyang Investment Management | ||||
Short Term Debt [Line Items] | ||||
Conversion price (in dollars per share) | $ / shares | $ 0.0001 | |||
Debt conversion, converted instrument, shares issued | shares | 6,000,000,000 | |||
Nanyang Investment Management | Unsecured Convertible Notes | ||||
Short Term Debt [Line Items] | ||||
Remaining principal amount of notes outstanding | $ 600,000 | |||
Debt instrument, maturity date | Dec. 18, 2025 |
CONVERTIBLE NOTES - Nanyang Con
CONVERTIBLE NOTES - Nanyang Convertible Note - Additional Information (Details) - BD1 Exchange Agreement - Nanyang Investment Management | Aug. 13, 2021USD ($)$ / sharesshares |
Short Term Debt [Line Items] | |
Conversion price (in dollars per share) | $ / shares | $ 0.0001 |
Debt conversion, converted instrument, shares issued | shares | 6,000,000,000 |
Ownership of outstanding stock, percentage | 4.99% |
Unsecured Convertible Notes | |
Short Term Debt [Line Items] | |
Remaining principal amount of notes outstanding | $ | $ 600,000 |
Debt instrument, maturity date | Dec. 18, 2025 |
DERIVATIVE LIABILITIES - Deriva
DERIVATIVE LIABILITIES - Derivative Liability Activity (Details) | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |
Derivative Liability, Beginning Balance | $ 5,303,984 |
Liability extinguished | $ (5,303,984) |
Derivative Liability, Ending Balance |
DERIVATIVE LIABILITIES - Additi
DERIVATIVE LIABILITIES - Additional Information (Details) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 09, 2020USD ($) | Dec. 31, 2019USD ($) | |
Embedded Derivative [Line Items] | ||||
Derivative liability | $ 5,303,984 | |||
Convertible Debt | Global Ichiban Limited | ||||
Embedded Derivative [Line Items] | ||||
Derivative liability | $ 2,010,975 | |||
Fair value of embedded derivative | 5,303,984 | |||
Convertible Debt | Global Ichiban Limited | GI Exchange Note | ||||
Embedded Derivative [Line Items] | ||||
Derivative liability | $ 447,903 | |||
Convertible Debt | BD 1 | ||||
Embedded Derivative [Line Items] | ||||
Derivative liability | $ 5,706,175 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Global Ichiban Limited | ||||
Embedded Derivative [Line Items] | ||||
Gain (loss) on embedded derivative, net | $ 5,303,984 | (2,845,106) | ||
Embedded Derivative Financial Instruments | Convertible Debt | BD 1 | ||||
Embedded Derivative [Line Items] | ||||
Gain (loss) on embedded derivative, net | $ 5,706,175 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Price Volatility | Global Ichiban Limited | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.62 | 0.46 | ||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Price Volatility | Global Ichiban Limited | GI Exchange Note | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.49 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Price Volatility | BD 1 | Minimum [Member] | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.42 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Price Volatility | BD 1 | Maximum | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.46 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Discount Rate | Global Ichiban Limited | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.12 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Discount Rate | Global Ichiban Limited | GI Exchange Note | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.0152 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Discount Rate | BD 1 | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0.12 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Expected Dividend Rate | Global Ichiban Limited | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0 | 0 | ||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Expected Dividend Rate | Global Ichiban Limited | GI Exchange Note | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0 | |||
Embedded Derivative Financial Instruments | Convertible Debt | Measurement Input, Expected Dividend Rate | BD 1 | ||||
Embedded Derivative [Line Items] | ||||
Debt instrument, measurement input | 0 |
SERIES A PREFERRED STOCK - Addi
SERIES A PREFERRED STOCK - Additional Information (Details) - USD ($) | Aug. 31, 2013 | Jun. 30, 2013 | Jun. 17, 2013 | Sep. 30, 2021 | Dec. 31, 2020 |
Class Of Stock [Line Items] | |||||
Preferred stock, value, issued | $ 5 | $ 5 | |||
Series A Preferred Stock | |||||
Class Of Stock [Line Items] | |||||
Preferred stock, shares issued (in shares) | 625,000 | 750,000 | 125,000 | 48,100 | 48,100 |
Share price (in dollars per share) | $ 8 | ||||
Preferred stock, value, issued | $ 6,000,000 | ||||
Preferred stock, dividend rate | 8.00% | ||||
Preferred stock, dividend, make-whole dividend rate to market value | 10.00% | ||||
Preferred stock, dividend issuance term | 4 years | ||||
Preferred stock, redemption, term, required make-whole dividend | 4 years | ||||
Preferred stock, conversion, required common share price (in dollars per share) | $ 232 | ||||
Preferred stock, conversion, required common share price, term | 20 days | ||||
Preferred stock redemption price per share | $ 8 | ||||
Convertible preferred stock, shares issued upon conversion (in shares) | 1 | ||||
Preferred stock, shares outstanding (in shares) | 48,100 | 48,100 | |||
Accrued and unpaid dividends | $ 404,441 | ||||
Common Stock | |||||
Class Of Stock [Line Items] | |||||
Number of securities called by warrants (in shares) | 10,938 | 13,125 | 2,187 | ||
Proceeds from issuance of preferred stock | $ 5,000,000 | $ 1,000,000 | |||
Convertible preferred stock, shares issued upon conversion (in shares) | 1 |
SERIES 1A PREFERRED STOCK - Add
SERIES 1A PREFERRED STOCK - Additional Information (Details) - Series 1A Preferred Stock - USD ($) | Jan. 05, 2021 | Dec. 31, 2020 | Sep. 22, 2020 | Nov. 30, 2020 | Sep. 30, 2021 |
Class Of Stock [Line Items] | |||||
Debt conversion, converted instrument, shares issued | 1,000,000,000 | ||||
TubeSolar AG | |||||
Class Of Stock [Line Items] | |||||
Debt conversion, converted instrument, shares issued | 100 | ||||
Series 1A SPA | Crowdex Investments, LLC | |||||
Class Of Stock [Line Items] | |||||
Debt conversion, converted instrument, shares issued | 500 | ||||
Tranche 2 SPA | TubeSolar AG | |||||
Class Of Stock [Line Items] | |||||
Number of shares sold | 2,500 | ||||
Gross proceeds from issuance of private placement | $ 2,500,000 | ||||
Private Placement | Securities Purchase Agreement | Crowdex Investments, LLC | |||||
Class Of Stock [Line Items] | |||||
Agreement entered date | Sep. 22, 2020 | ||||
Stock purchase agreement, authorized amount | $ 5,000,000 | ||||
Original issue price per share | $ 1,000 | ||||
Fixed conversion price per 10,000 common share | 0.0001 | ||||
Liquidation, dissolution or winding up, holders to be paid out of assets, amount per share | $ 1,000 | ||||
Private Placement | Initial Closing Under Securities Purchase Agreement | |||||
Class Of Stock [Line Items] | |||||
Debt conversion, converted instrument, shares issued | 12,000,000,000 | ||||
Private Placement | Initial Closing Under Securities Purchase Agreement | Crowdex Investments, LLC | |||||
Class Of Stock [Line Items] | |||||
Number of shares sold | 2,000 | ||||
Gross proceeds from issuance of private placement | $ 2,000,000 | ||||
Debt conversion, converted instrument, shares issued | 1,200 |
STOCKHOLDERS' EQUITY (DEFICIT_2
STOCKHOLDERS' EQUITY (DEFICIT) - Additional Information (Details) | Sep. 02, 2021USD ($)shares | Sep. 30, 2021vote$ / sharesshares | Aug. 02, 2021USD ($)$ / sharesshares | Jun. 30, 2021shares | Dec. 31, 2020$ / sharesshares |
Class Of Stock [Line Items] | |||||
Common stock, shares authorized (in shares) | 30,000,000,000 | 20,000,000,000 | 30,000,000,000 | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | |||
Common stock, shares outstanding (in shares) | 19,678,916,809 | 18,102,583,473 | |||
Common stock, number of votes per share | vote | 1 | ||||
Preferred stock, shares authorized (in shares) | 25,000,000 | ||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 | ||||
Common Stock Purchase Agreement | Private Placement | BD1 Investment Holding LLC | |||||
Class Of Stock [Line Items] | |||||
Stock purchase agreement, authorized shares | 666,666,672 | ||||
Sale of shares, fixed price per share | $ / shares | $ 0.015 | ||||
Stock purchase agreement, authorized amount | $ | $ 10,000,000 | ||||
Stock purchase agreement, description | The first tranche of 333,333,336 shares for $5,000,000 closed on September 2, 2021 and the second tranche will close on or before October 31, 2021 (if the Company has authorized but unissued common stock sufficient to issue all of the second tranche shares) or within five business days after the effective date when the Company has sufficient unissued common stock. | ||||
First Tranche Close on September 2, 2021 | Private Placement | BD1 Investment Holding LLC | |||||
Class Of Stock [Line Items] | |||||
Stock purchased under purchase agreement, shares | 333,333,336 | ||||
Stock purchased under purchase agreement, value | $ | $ 5,000,000 |
STOCKHOLDERS' EQUITY (DEFICIT_3
STOCKHOLDERS' EQUITY (DEFICIT) - Schedule of Stock by Class (Details) - shares | Sep. 30, 2021 | Dec. 31, 2020 |
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 25,000,000 | |
Series A Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 750,000 | 750,000 |
Preferred stock, shares outstanding (in shares) | 48,100 | 48,100 |
Series 1A Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 5,000 | |
Preferred stock, shares outstanding (in shares) | 3,700 | |
Series B-1 Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 2,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series B-2 Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 1,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series C Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 1,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series D Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 3,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series D-1 Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 2,500 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series E Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 2,800 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series F Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 7,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series G Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 2,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series H Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 2,500 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series I Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 1,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series J Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 1,350 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series J-1 Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 1,000 | |
Preferred stock, shares outstanding (in shares) | 0 | |
Series K Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, shares authorized (in shares) | 20,000 | |
Preferred stock, shares outstanding (in shares) | 0 |
SUBSEQUENT EVENTS - Additional
SUBSEQUENT EVENTS - Additional Information (Details) - Subsequent Event - USD ($) | Nov. 05, 2021 | Oct. 13, 2021 |
Second Tranche of Common Stock Purchase Agreement | ||
Subsequent Event [Line Items] | ||
Stock purchased under purchase agreement, value | $ 5,000,000 | |
Stock purchased under purchase agreement, shares | 333,333,336 | |
Nanyang Notes | ||
Subsequent Event [Line Items] | ||
Remaining principal amount of notes outstanding | $ 100,000 | |
Debt conversion, converted instrument, shares issued | 1,000,000,000 |