Ryvyl (RVYL) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 06, 2021
Document Information Line Items
Entity Registrant Name	GREENBOX POS
Trading Symbol	GBOX
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		43,343,091
Amendment Flag	false
Entity Central Index Key	0001419275
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-34294
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	22-3962936
Entity Address, Address Line One	3131 Camino Del Rio North, Suite 1400
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92108
City Area Code	619
Local Phone Number	-631-8261
Title of 12(b) Security	Common Stock, $0.001 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

CONENSED CONSOLIDATED BALANCE S

CONENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 29,796,748	$ 0
Restricted cash	0	1,832,735
Accounts receivable, net of allowance for bad debt of $0 and $0, respectively	75,444	10,000
Accounts receivable from fines and penalties from merchants, net of allowance for bad debt of $6,665,031 and $6,665,031, respectively	2,789,230	2,789,230
Cash due from gateways, net	15,759,069	7,303,949
Prepaid and other current assets	2,028,552	70,130
Total current assets	50,449,043	12,006,044
Non-current Assets:
Property and equipment, net	113,836	57,264
Other assets	180,636	81,636
Goodwill	2,305,394	0
Intangible Assets, net	257,748	0
Operating lease right-of-use assets, net	832,636	117,795
Total non-current assets	3,690,250	256,695
Total assets	54,139,293	12,262,739
Current Liabilities:
Accounts payable	520,478	210,094
Other current liabilities	135,991	68,138
Payment processing liabilities, net	4,295,519	10,199,956
Note payable, payroll protection plan loan	272,713	272,713
Convertible debt, net of debt discount of $0 and $2,993,408, respectively	0	856,592
Current portion of operating lease liabilities	431,487	120,110
Total current liabilities	5,656,188	11,727,603
Long term liabilities	149,900	149,900
Operating lease liabilities, less current portion	401,744	0
Total liabilities	6,207,832	11,877,503
Commitments and contingencies
Stockholders' Equity:
Common stock, par value $0.001, 82,500,000 shares authorized, shares issued and outstanding of 42,236,219 and 30,710,646, respectively	42,327	30,711
Additional paid-in capital	73,916,018	12,079,074
Accumulated deficit	(25,093,541)	(11,724,549)
Less: Treasury stock, at cost; 90,000 and 0 shares, respectively	(933,343)	0
Total stockholders' equity	47,931,461	385,236
Total liabilities and stockholder's equity	$ 54,139,293	$ 12,262,739

CONENSED CONSOLIDATED BALANCE_2

CONENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for bad debt (in Dollars)	$ 0	$ 0
Accounts receivable from fines and penalties from merchants, allowance for bad debt (in Dollars)	$ 6,665,031	$ 6,665,031
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	82,500,000	82,500,000
Common stock shares issued	42,236,219	30,710,646
Common stock, shares outstanding	42,236,219	30,710,646
Treasury stock, shares	90,000	0

CONENSED CONSOLIDATED STATEMENT

CONENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 6,379,179	$ 2,292,859	$ 11,128,620	$ 2,480,064
Cost of Goods Sold	1,323,480	1,411,683	2,917,251	1,658,988
Gross Profit	5,055,699	881,176	8,211,369	821,076
Operating expenses:
Advertising and marketing	22,605	15,384	47,330	27,269
Research and development	808,210	267,686	1,461,591	554,234
General and administrative	298,030	101,523	864,225	234,292
Payroll and payroll taxes	1,061,929	428,758	1,621,130	842,958
Professional fees	867,472	293,622	1,325,224	507,593
Stock compensation for employees	1,291,887	12,130	2,089,500	12,130
Stock compensation for services	726,933	0	10,180,758	0
Depreciation and amortization	14,244	5,716	20,253	11,092
Total operating expenses	5,091,310	1,124,819	17,610,011	2,189,568
Income (Loss) from operations	(35,611)	(243,643)	(9,398,642)	(1,368,492)
Other income (expense):
Interest expense	0	(30,659)	(594,258)	(319,249)
Interest expense - debt discount	0	(8,342)	(2,993,408)	(38,418)
Derivative expense	0	(4,373)	0	(4,373)
Changes in fair value of derivative liability	0	2,619,250	0	(1,203,135)
Gain from extinguishment of convertible debt	0	2,612,246	0	2,630,795
Merchant liability settlement	0	0	(364,124)	0
Other income or expense	(3,949)	(2,177)	(18,560)	3,334
Total other expense, net	(3,949)	5,185,945	(3,970,350)	1,068,954
Income (Loss) before provision for income taxes	(39,560)	4,942,302	(13,368,992)	(299,538)
Income tax provision	0	0	0	0
Net Income (loss)	$ (39,560)	$ 4,942,302	$ (13,368,992)	$ (299,538)
Earnings (loss) per share:
Basic and diluted (in Dollars per share)	$ 0	$ 0.17	$ (0.43)	$ (0.01)
Weighted average number of common shares outstanding:
Basic and diluted (in Shares)	31,078,605	28,983,034	31,208,102	29,492,180

CONENSED CONSOLIDATED STATEME_2

CONENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)	Non-cash stock option exercise [Member]Common Stock [Member]	Non-cash stock option exercise [Member]Additional Paid-in Capital [Member]	Settlement of Note Payable [Member]Common Stock [Member]	Settlement of Note Payable [Member]Additional Paid-in Capital [Member]	Settlement of Note Payable [Member]	Issuance of Common Stock [Member]Common Stock [Member]	Issuance of Common Stock [Member]Additional Paid-in Capital [Member]	Issuance of Common Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Common Stock to be Issued [Member]	Total
Balance at Dec. 31, 2019									$ 28,310	$ 1,321,404	$ (6,717,169)		$ 116	$ (5,367,339)
Balance (in Shares) at Dec. 31, 2019									28,310,489				115,854
Common stock issued for services						$ 10	$ 4,120	$ 4,130
Common stock issued for services (in Shares)						9,833
Other adjustments										116			$ (116)
Other adjustments (in Shares)													(115,854)
Issuable under convertible debt			$ 1,855	$ 213,695	$ 215,550
Issuable under convertible debt (in Shares)			1,854,701
Common stocks - issued donation									$ 17	7,983				8,000
Common stocks - issued donation (in Shares)									16,667
Net income (loss)											(299,538)			(299,538)
Balance at Jun. 30, 2020									$ 30,192	1,547,318	(7,016,707)			(5,439,197)
Balance (in Shares) at Jun. 30, 2020									30,191,690
Balance at Mar. 31, 2020									$ 29,320	1,440,190	(11,959,009)			(10,489,499)
Balance (in Shares) at Mar. 31, 2020									29,320,322
Issuable under convertible debt									$ 855	99,145				100,000
Issuable under convertible debt (in Shares)									854,701
Common stocks - issued donation									$ 17	7,983				8,000
Common stocks - issued donation (in Shares)									16,667
Net income (loss)											4,942,302			4,942,302
Balance at Jun. 30, 2020									$ 30,192	1,547,318	(7,016,707)			(5,439,197)
Balance (in Shares) at Jun. 30, 2020									30,191,690
Balance at Dec. 31, 2020									$ 30,711	12,079,074	(11,724,549)			$ 385,236
Balance (in Shares) at Dec. 31, 2020									30,710,645					30,710,646
Issuance of common stock									$ 1,172	(1,172)
Issuance of common stock (in Shares)									1,171,849
Payment for previous common stock repurchased under treasury method										(4,194,000)				$ (4,194,000)
Issuances of common stock from previous unregistered shares									$ 703	(703)
Issuances of common stock from previous unregistered shares (in Shares)									703,276
Common stock issued for services									$ 990	10,179,974				10,180,964
Common stock issued for services (in Shares)									990,118
Common stocks issued for convertible notes									$ 97	594,258				594,355
Common stocks issued for convertible notes (in Shares)									96,664
Common stock issued for non-cash stock option exercise	$ 70	$ (70)							$ 6	2,244				$ 2,250
Common stock issued for non-cash stock option exercise (in Shares)	70,112								5,500					100,802
Issuances of common stock, net of issuance costs of $4,305,758									$ 4,773	45,800,718				$ 45,805,491
Issuances of common stock, net of issuance costs of $4,305,758 (in Shares)									4,772,500
Purchases of treasury stock												$ (933,343)		(933,343)
Purchases of treasury stock (in Shares)									(90,000)
Stock compensation expense										2,089,500				2,089,500
Common stock and warrants issuable forfeited									$ 1,778	3,518,222				3,520,000
Common stock and warrants issuable forfeited (in Shares)									1,777,778
Issuable under convertible debt									$ 1,944	3,848,056				3,850,000
Issuable under convertible debt (in Shares)									1,944,444
Common shares issued for restricted shares to executive									$ 83	(83)
Common shares issued for restricted shares to executive (in Shares)									83,333
Net income (loss)											(13,368,992)			(13,368,992)
Balance at Jun. 30, 2021									$ 42,327	73,916,018	(25,093,541)	(933,343)		$ 47,931,461
Balance (in Shares) at Jun. 30, 2021									42,236,219					42,236,219
Balance at Mar. 31, 2021									$ 40,918	71,898,401	(25,053,981)			$ 46,885,338
Balance (in Shares) at Mar. 31, 2021									40,917,331
Issuance of common stock									$ 1,172	(1,172)
Issuance of common stock (in Shares)									1,171,849
Common stock issued for services									$ 206	726,933				727,139
Common stock issued for services (in Shares)									206,259
Common stock issued for non-cash stock option exercise									$ 31	(31)
Common stock issued for non-cash stock option exercise (in Shares)									30,780
Purchases of treasury stock												(933,343)		(933,343)
Purchases of treasury stock (in Shares)									(90,000)
Stock compensation expense										1,291,887				1,291,887
Net income (loss)											(39,560)			(39,560)
Balance at Jun. 30, 2021									$ 42,327	$ 73,916,018	$ (25,093,541)	$ (933,343)		$ 47,931,461
Balance (in Shares) at Jun. 30, 2021									42,236,219					42,236,219

CONENSED CONSOLIDATED STATEME_3

CONENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parentheticals)	6 Months Ended
	Jun. 30, 2021USD ($)
Retained Earnings [Member]
Issuances of common stock, issuance costs	$ 4,305,758

CONENSED CONSOLIDATED STATEME_4

CONENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (13,368,992)	$ (299,538)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	13,338	11,092
Amortization expense	6,915	0
Noncash lease expense	(1,720)	(839)
Stock compensation expense	2,089,500	12,130
Common stocks issued for professional fees	10,180,758	0
Stock compensation issued for interest	594,258	0
Interest expense - debt discount	2,993,408	38,418
Derivative expense	0	4,373
Gain (loss) on extinguishment of debt	0	(2,630,795)
Changes in fair value of derivative liability	0	1,203,135
Changes in assets and liabilities:
Other receivable, net	(65,444)	47,714
Prepaid and other current assets	(1,958,422)	(33,341)
Cash due from gateways, net	(8,455,120)	3,502,426
Other assets	(99,000)	0
Accounts payable	239,131	(33,597)
Other current liabilities	67,853	14,354
Accrued interest	0	(290,021)
Payment processing liabilities, net	(5,904,437)	(1,077,551)
Net cash provided by (used in) operating activities	(13,667,974)	467,960
Cash flows from investing activities:
Purchases of property and equipment	(68,411)	(10,244)
Cash provided for acquisition	(2,500,000)	0
Net cash used in investing activities	(2,568,411)	(10,244)
Cash flows from financing activities:
Treasury stock repurchase	(933,343)	0
Proceeds from stock option exercises	2,250	0
Repayments on convertible debt	0	(445,000)
Borrowings from notes payable	0	744,480
Principal payments on notes payable	0	(823,074)
Proceeds from exercise of warrant	3,520,000	0
Repurchase of common stock from stockholder	(4,194,000)	0
Proceeds from issuance of common stock	45,805,491	0
Net cash provided by (used in) financing activities	44,200,398	(523,594)
Net increase in cash, cash equivalents, and restricted cash	27,964,013	(65,878)
Cash, cash equivalents, and restricted cash – beginning of period	1,832,735	763,110
Cash, cash equivalents, and restricted cash – end of period	29,796,748	697,232
Cash paid during the period for:
Interest	0	525,270
Income taxes	800	800
Non-cash financing activities:
Convertible debt conversion to common stock	3,850,000	137,500
Interest accrual from convertible debt converted to common stock	$ 0	$ 78,050

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Organization GreenBox POS (the “Company” or “PubCo”) is a tech company formed with the intent of developing, marketing and selling innovative blockchain-based payment solutions, which the Company believes will cause favorable disruption in the payment solutions marketplace. The Company’s core focus is to develop and monetize disruptive blockchain-based applications, integrated within an end-to-end suite of financial products, capable of supporting a multitude of industries. The Company’s proprietary, blockchain-based systems are designed to facilitate, record and store a virtually limitless volume of tokenized assets, representing cash or data, on a secured, immutable blockchain-based ledger. The Company was formerly known as ASAP Expo, Inc (“ASAP”), and was incorporated in the state of Nevada on April 10, 2007. On January 4, 2020, PubCo and GreenBox POS LLC, a Washington limited liability company (“PrivCo”), entered into an Asset Purchase Agreement (the “Agreement”), to memorialize a verbal agreement (the “Verbal Agreement”) entered into on April 12, 2018, by and among PubCo (the Buyer) and PrivCo (the Seller). On April 12, 2018, pursuant to the Verbal Agreement, PubCo acquired PrivCo’s blockchain gateway and payment system business, point of sale system business, delivery business and kiosk business, bank and merchant accounts, as well as all intellectual property related thereto (the “GreenBox Business”). As consideration for the GreenBox Business, on April 12, 2018, PubCo assumed PrivCo’s liabilities that had been incurred in the normal course of the GreenBox Business (the “GreenBox Acquisition”). For accounting and reporting purposes, PubCo deemed the GreenBox Acquisition a “Reverse Acquisition” with PrivCo designated the “accounting acquirer” and PubCo designated the “accounting acquiree.” On May 21, 2021, the Company acquired all of the outstanding stock of Northeast Merchant Systems, Inc. (“Northeast”) in a transaction treated as a business combination. Northeast is a merchant services company providing merchant credit card processing through their own Bank Identification Number (BIN) with the acquiring bank Merrick. This involves inside operations for new merchants that include sales assistance and applications processing, underwriting, and onboarding; inside operations for existing merchants include risk monitoring and customer service. Outside operations include: equipment service or replacement; sales calls and applications, site inspections and identity verification; security verification; and on-site customer service and technical support. Name Change On May 3, 2018, PubCo formally changed its name to GreenBox POS LLC, then subsequently changed its name to GreenBox POS on December 13, 2018. Unless the context otherwise requires, all references to “the Company,” “we,” “our”, “us” and “PubCo” refer to GreenBox POS. Unless the context otherwise requires, all references to “PrivCo” or the “Private Company” refer to GreenBox POS LLC, a limited liability company, formed in the state of Washington. Basis of Presentation and Consolidation The accompanying interim consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. All intercompany transactions and balances have been eliminated in the accompanying consolidated financial statements. Unaudited Interim Financial Information Certain information and footnote disclosures normally included in the Company’s annual audited financial statements and accompanying notes have been condensed or omitted in these accompanying interim consolidated financial statements and footnotes. Accordingly, the accompanying interim consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2020. The results of operations presented in this quarterly report on Form 10-Q are not necessarily indicative of the results of operations that may be expected for any future periods. In the opinion of management, these unaudited consolidated financial statements include all adjustments and accruals, consisting only of normal, recurring adjustments that are necessary for a fair statement of the results of all interim periods reported herein. COVID-19 considerations In December 2019, a novel strain of coronavirus (“COVID-19”) was identified and the disease has since spread across the world. In March 2020, the World Health Organization declared COVID-19 a pandemic. The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains, and created significant volatility and disruption in the financial and capital markets. The full extent to which the COVID-19 outbreak will impact the Company’s business, results of operations, financial condition and cash flows will depend on future developments that are highly uncertain and cannot be predicted, including new information that may emerge concerning COVID-19 and the actions to contain or treat its impact and the economic impact and the economic impact on local, regional, national and international markets. As the COVID-19 pandemic continues, the Company’s results of operations, financial condition and cash flows may be materially adversely affected, particularly if the pandemic persists for a significant period of time. On March 27, 2020 , Use of Estimates The preparation of financial statements in conformity with the 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 materially differ from those estimates. Cash Due from Gateways and Payment Processing Liabilities The Company’s primary source of revenues is payment processing services for its merchant clients. When such merchant makes a sale, the process of receiving the payment card information, engaging the banks for transferring the proceeds to the merchant’s account via digital gateways, and recording the transaction on a blockchain ledger are the activities for which the Company gets to collect fees. In 2021 and 2020 the Company utilized several gateways. The gateways have strict guidelines pertaining to scheduling of the release of funds to merchants based on several criteria, such as return and chargeback history, associated risk for the specific business vertical, average transaction amount and so on. In order to mitigate processing risks, these policies determine reserve requirements and payment in arrears strategy. While reserve and payment in arrears restrictions are in effect for a merchant payout, the Company records gateway debt against these amounts until released. Therefore, the total Cash due from gateways on the unaudited consolidated balance sheets represents the amount owed to the Company for processing. Research and Development Costs Research and development costs, which are expensed as incurred, are primarily comprised of costs and expenses for salaries and benefits for research and development personnel, outsourced contract services, and supplies and materials costs.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition Revenue is recognized upon transfer of control of promised goods or services to the Company’s customers or when the Company satisfies any performance obligations under contract. The amount of revenue reflects the consideration the Company expects to be entitled to in exchange for the respective goods or services provided. Further, under Accounting Standards Codification 606, “ Revenue from Contracts with Customers , The Company’s primary revenue source is generated from payment processing services. Payment processing services revenue is based on a percentage of each transaction’s value and/or upon fixed amounts specified per each transaction or service and is recognized as such transactions or services are performed, at a point in time. Fair Value of Financial Instruments The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurement The standard describes three levels of inputs that may be used to measure fair value: Level 1- Quoted prices in active markets for identical assets or liabilities. Level 2- Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3- Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table describes the valuation techniques used to calculate the fair value for assets in Level 3. The significant unobservable input used in the fair value measurement of the Company’s identifiable intangible assets is discount rate. The change in this input could result in a change of fair value measurement: Fair Value at May 21, 2021 Valuation Technique Unobservable Input Range Customer Relationship $ 264,663 Multiple-period excess earnings method Discount rate 15.90 % Goodwill and Other Intangible Assets The Company accounts for acquisitions of businesses in accordance with the acquisition method. Goodwill represents the excess of the purchase price of acquired businesses over the fair value of the identifiable assets acquired and liabilities assumed. Acquisition costs are expensed as incurred. Goodwill and other intangible assets acquired in a business combination determined to have an indefinite useful life are generally not amortized, but instead are tested for impairment at least annually and more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. Other intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever management believes that events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. To the extent that the carrying value is determined to be unrecoverable, an impairment loss is recognized through a charge to expense. As of December 31, 2020, the Company does not believe that impairment indicators are present, and accordingly, based on this assessment, no further impairment analysis was performed. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred income taxes are recognized for temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, net of operating loss carry forwards and credits, by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. Earnings Per Share A basic earnings per share is computed by dividing net income to common stockholders by the weighted average number of shares outstanding for the year. Dilutive earnings per share include the effect of any potentially dilutive debt or equity under the treasury stock method, if including such instruments is dilutive. The Company’s diluted earnings/loss per share is the same as the basic earnings/loss per share for the three and six months ended June 30, 2021 and 2020, as there are no potential shares outstanding other than options that would have a dilutive effect. Reverse Common Stock Split (1 for 6) On February 17, 2021, the Company effected a reverse stock split of the Company’s shares of common stock outstanding and a proportional decrease of the Company’s authorized shares of common stock at a ratio of one-for-six (the “Stock Split”). Following the Stock Split, the Company has 82,500,000 shares of common stock authorized (the number of authorized shares of Preferred Stock remains 5,000,000). As a result, common shares information has been retrospectively restated accordingly in the financial statements as of and for the three and six months ended June 30, 2020. Recently Adopted Accounting Updates In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This standard removes, modifies, and adds certain disclosure requirements for fair value measurements, and is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company adopted ASU No. 2018-13 in the first quarter of fiscal 2020, coinciding with the standard’s effective date, and the adoption did not have any impact to the Company’s financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company’s accounting for the service element of a hosting arrangement that is a service contract is not affected by the proposed amendments and will continue to be expensed as incurred in accordance with existing guidance. This standard does not expand on existing disclosure requirements except to require a description of the nature of hosting arrangements that are service contracts. This standard is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, and can be adopted either prospectively or retrospectively. Accordingly, the Company adopted the updated disclosure requirements of ASU No. 2018-15 prospectively in the first quarter of fiscal 2020, coinciding with the standard’s effective date, and the adoption did not have any impact to the Company’s financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes. This standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740, Income Taxes, while also clarifying and amending existing guidance, including interim-period accounting for enacted changes in tax law. This standard is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company adopted ASU No. 2019-12 in the first quarter of fiscal 2020 and the adoption did not have any impact to the Company’s financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard provides optional guidance for a limited time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this standard apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The amendments in this standard are elective and are effective upon issuance for all entities. The Company is evaluating the expedients and exceptions provided by the amendments in this standard to determine their impact. Other recently issued accounting updates are not expected to have a material impact on the Company’s Interim Financial Statements.

ACQUISITION

ACQUISITION	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	3. ACQUISITION On May 21, 2021, the Company acquired all the outstanding stock of Northeast Merchant Systems, Inc. (“Northeast”). Northeast is a merchant services company providing merchant credit card processing through their own Bank Identification Number (BIN) with the acquiring bank Merrick. This involves inside operations for new merchants that include sales assistance and applications processing, underwriting, and onboarding; inside operations for existing merchants include risk monitoring and customer service. Outside operations include: equipment service or replacement; sales calls and applications; site inspections and identity verification; security verification; and on-site customer service and technical support. Preliminary Purchase Price Allocation The acquisition qualified as a business combination and was accounted for using the acquisition method. Accordingly, the total fair value of consideration transferred of $2,500,000 for the acquisition was allocated to the net tangible, intangible and liabilities acquired using fair value estimates at the date of acquisition. The excess of the purchase price over the fair value of the net tangible and intangible assets acquired was allocated to goodwill, which is taxable. The following summarizes the estimated fair values of the net assets acquired: Tangible assets (liabilities): Net assets and liabilities $ (70,057 ) Intangible assets: Customer relationships 264,663 Goodwill 2,305,394 2,570,057 Total net assets acquired $ 2,500,000 The acquisition was funded through cash on hand, and there were no costs associated with the acquisition. The agreement also provides for a future additional contingent purchase price payment (earn-out) of $500,000, which is derived using the performance of Northeast and is based on a predetermined formula. The Company believes that is unlikely that the targets will be achieved and, accordingly, has not adjusted the purchase price or provided an accrual for this contingency.

SETTLEMENT PROCESSING

SETTLEMENT PROCESSING	6 Months Ended
	Jun. 30, 2021
Settlement Processing [Abstract]
Settlement Processing [Text Block]	4. SETTLEMENT PROCESSING The Company’s proprietary blockchain-based technology serves as the settlement engine for all transactions within the Company’s ecosystem. The blockchain ledger provides a robust and secure platform to log immense volumes of immutable transactional records in real time. Generally speaking, blockchain is a distributed ledger that uses digitally encrypted keys to verify, secure and record details of each transaction conducted within an ecosystem. Unlike general blockchain-based systems, GreenBox uses proprietary, private ledger technology to verify every transaction conducted within the GreenBox ecosystem. The verification of transaction data comes from trusted partners, all of whom have been extensively vetted by us. GreenBox facilitates all financial elements of our closed-loop ecosystem and we act as the administrator for all related accounts. Using our TrustGateway technology, we seek authorization and settlement for each transaction from Gateways to the issuing bank responsible for the credit/debit card used in the transaction. When the Gateway settles the transaction, our TrustGateway technology composes a chain of blockchain instructions to our ledger manager system. When consumers use credit/debit cards to pay for transactions with merchants who use our ecosystem, the transaction starts with the consumer purchasing tokens from us. The issuance of tokens is accomplished when we load a virtual wallet with a token, which then transfers credits to the merchant’s wallet on a dollar for dollar basis, after which the merchant releases its goods or services to the consumer. These transfers take place instantaneously and seamlessly, allowing the transaction experience to seem like any other ordinary credit/debit card transaction to the consumer and merchant. While our blockchain ledger records transaction details instantaneously, the final cash settlement of each transaction can take days to weeks, depending upon contract terms between us and the gateways we use, between us and our ISOs, and between us and/or our ISOs and merchants who use our services. In the case where we have received transaction funds, but not yet paid a merchant or an ISO, we hold funds in either a trust account or as cash deemed restricted within our operating accounts. We record the total of such funds as Cash due from gateways, net – a Current Asset. Of these funds, we record the sum balance due to Merchants and ISOs as Payment processing liabilities, net – a Current Liability.

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	5. CONVERTIBLE NOTES PAYABLE Convertible notes payable consisted of the following: June 30, 2021 December 31, 2020 October 27, 2020 ($3,850,000) $ - $ 3,850,000 Total convertible notes payable - 3,850,000 Debt discount - (2,993,408 ) Total convertible notes payable, net of debt discount $ - $ 856,592 Kingswood Capital (Syndicate Convertible Note) - $3,850,000 On October 27, 2020, the Company issued a convertible promissory note for $3,850,000 to various lenders through its placement agent, Kingswood Capital (“Kingswood Note”), due July 27, 2021 (the “Maturity Date”) with conversion price to common stock of $1.98 per share. The Kingswood Note included an original issue discount of $350,000, netting the balance received by the Company from Kingswood Note at $3,500,000. The Company also provided warrant of 1,944,444 with a fixed exercise price to common stock of $1.98 per share under the Kingswood Note. The Company valued its warrant of 1,944,444 with fixed exercise price of $1.98 using Black-Scholes valuation method which amounted to $3,498,667 and recorded as a debt discount at the time of issuance of warrant. The convertible debt was converted in February 2021.

NOTE PAYABLE, PAYROLL PROTECTIO

NOTE PAYABLE, PAYROLL PROTECTION PLAN LOAN	6 Months Ended
	Jun. 30, 2021
Note Payable [Abstract]
Note Payable [Text Block]	6. PAYROLL PROTECTION PROGRAM LOAN On April 29, 2020, the Company obtained a $272,713, 2-year loan from a regional bank (the “Lender”) pursuant to the U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) under Title 1 of the CARES Act. The loan bears interest of 1.00% per annum and no payments were due for the first six months. The Company certified in the Application that 100% of the loaned funds were utilized during the 24-week covered period commencing April 29, 2020 to pay for qualified payroll and payroll related costs, and as such, requested that the entire principal balance be forgiven. The Company expects the entire PPP loan to be forgiven and the Company is awaiting SBA approval to extinguish the loan.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	7. LONG-TERM DEBT On June 9, 2020, the Company entered into a 30 year loan agreement with the SBA under the CARES Act in the amount of $149,900. The loan bears interest at 3.75% per annum and requires monthly principal and interest payments of $731 beginning June 9, 2021. Both the Chief Executive Officer and Chairman of the Company signed personal guarantees under this loan.

STOCK OPTION AWARDS

STOCK OPTION AWARDS	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	8. STOCK OPTION AWARDS The Company adopted the 2020 Incentive and Non-statutory Stock Option Plan (“2020 Plan”) in June 2020, which provided for the grant of incentive stock options and nonqualified stock options to our employees and directors. The 2020 Plan provides for up to 3.3 million shares of Common Stock. Options granted under the 2020 Plan generally have a term of ten years and generally vest and become exercisable at various times from the option grant dates. The 2020 Plan provide for the grant of incentive stock options, non-qualified stock options and restricted stock to our employees, directors and independent contractors. These options will have such vesting or other provisions as may be established by the Board of Directors at the time of each grant. The Company applies the provisions of ASC 718, “Compensation - Stock Compensation,” using a modified prospective application, and the Black-Scholes model to value stock options. Under this application, the Company records compensation expense for all awards granted. Compensation costs will be recognized over the period that an employee provides service in exchange for the award. The fair value of each share option award on the date of grant was estimated using the Black-Scholes method based on the following weighted-average assumptions: June 30, 2021 December 31, 2020 Risk-free interest rate 0.29 % 0.29 % Expected term 5 years 5 years Expected volatility 396.64 % 289.33% to 279.18 % Expected dividend yield - - The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected term of the option award; the expected term represents the weighted-average period of time that option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based upon the Company’s dividend rate at the time fair value is measured and future expectations. The Company recorded stock compensation expense of $2,089,500 and $12,130 for the six months ended June 30, 2021 and 2020, respectively, and $1,291,887 and $12,130 for the three months ended June 30, 2021 and 2020, respectively. A summary of the status of our stock options is presented below as of June 30, 2021: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding at December 31, 2020 514,607 $ 2.30 0.00 $ 3,365,527 Granted 230,122 10.59 Exercised (100,802 ) 0.46 Forfeited or expired (68,428 ) 2.50 Outstanding at June 30, 2021 575,499 7.06 0.21 6,865,703 Exercisable as of June 30, 2021 446,295 5.37 0.21 5,324,299 Vested and expected to Vest as of June 30, 2021 547,834 6.80 0.21 6,535,660 The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based upon the Company’s closing stock price of $11.93 as of June 30, 2021, which would have been received by the option holders had all option holders exercised their options as of that date. As of June 30, 2021, there was unrecognized compensation cost related to non-vested stock options granted in the amount of $329,599.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	9. GOODWILL AND OTHER INTANGIBLE ASSETS As of June 31, 2021 goodwill and intangible assets consists of the following: June 30, 2021 Amortization Period Cost Accumulated Amortization Net Customer relationships 5 years $ 264,663 $ 6,915 $ 257,748 Goodwill $ 2,305,394 $ - $ 2,305,394 Total goodwill and intangibles $ 2,563,142 Intangible assets with finite lives are amortized over the estimated periods benefitted on a straight- line basis. Amortization expense on intangible assets with finite lives for the period from May 21, 2021 (the acquisition date of Northeast) to June 30, 2021 was $6,915 and is included in depreciation and amortization expense in the unaudited condensed consolidated statement of operations and comprehensive loss. Amortization expense related to intangible assets for each of the next five fiscal years and thereafter is expected as follows: Years Ending December 31, 2021 $ 26,466 2022 52,932 2023 52,932 2024 52,932 2025 52,932 Thereafter 19,554 $ 257,748

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	6 Months Ended
	Jun. 30, 2021
Brokers and Dealers [Abstract]
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]	10. STOCK REPURCHASE PROGRAM On May 13, 2021, the Company announced a plan to repurchase a portion of its outstanding shares not to exceed a dollar maximum established by the Board. From May 13, 2021 to June 30, 2021, the Company has repurchased a total of 90,000 shares at an aggregate cost of $933,343.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	11. RELATED PARTY TRANSACTIONS The Company had the following related party transactions: ● Kenneth Haller and the Haller Companies Kenneth Haller (“Haller”) became the Company’s Senior Vice President of Payment Systems in November 2018. The Company began working indirectly with Haller earlier in 2018, both individually and through our relationship with MTrac Tech Corporation (“MTrac”), which in turn has business relationships with Haller. Haller brings considerable advantages to the Company’s platform development and business development efforts and capabilities, including transactional business relations and a large network of agents (the “Haller Network”). The Haller Network is an amalgamation of the collective networks of Haller and two companies owned or majority-owned by Haller, which are Sky Financial & Intelligence, LLC (“Sky”), and Charge Savvy, LLC (collectively, the “Haller Companies”), each of which has formalized business relationships with the Company, as well as with some of the Company’s partners, which the Company believes allows the Company to maximize and diversity the Company’s market penetration capabilities. Haller, through Sky, owns controlling interests in Charge Savvy, LLC with whom the Company does business through their respective business relationship with MTrac. The following are certain transactions between the Company and the Haller Companies: ■ Sky Financial & Intelligence, LLC ■ Charge Savvy, LLC – Sky owns 68.4% of Charge Savvy, LLC (“Charge Savvy”), an Illinois limited liability company. Haller serves as one of three Managing Members of Charge Savvy, along with Higher Ground Capital, LLC (owns 14%), and Jeff Nickel (owns 17.4%). The Company did not pay any commissions to the related parties mentioned above for the three and six months ended June 30, 2021 and 2020.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	12. COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company has the following legal proceedings: ● Corporate Performance Consulting, LLC (CPC) v. GreenBox POS ● GreenBox POS v. A.M.P of Florida, Inc. (AMP) ● America 2030 Capital Limited and Bentley Rothschild Capital Limited ● The Good People Farms, LLC (TGPF) Operating Leases The Company entered into the following operating facility leases: ● Hyundai Rio Vista – On October 4, 2018, the Company entered into an operating facility lease for its corporate office located in San Diego with 38 months term and with option to renew. The lease started on October 4, 2018 and expires on October 3, 2021. ● Camino Del Rio – On and effective April 2021, the Company entered into an operating facility lease for its corporate office located in San Diego with monthly lease payments of $33,135 per month. For operating leases, we calculated right of use assets and lease liabilities based on the present value of the remaining lease payments as of the date of adoption using the incremental borrowing rate. The Company has recorded operating lease right of use assets and operating lease liabilities of $832,636 and $833,231 respectively, as of June 30, 2021. The difference between the operating lease ROU asset and operating lease liabilities represents differences in the cash paid and straight-line lease expense recognized. The adoption of ASC 842 did not materially impact our results of operations, cash flows, or presentation thereof.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events [Text Block]	13. SUBSEQUENT EVENTS The Company follows the guidance in FASB ASC Topic 855, Subsequent Events (“ASC 855”), which provides guidance to establish general standards of accounting for and disclosures of events that occur after the balance sheet date but before the consolidated financial statements are issued or are available to be issued. ASC 855 sets forth (i) the period after the balance sheet date during which management of a reporting entity evaluates events or transactions that may occur for potential recognition or disclosure in the consolidated financial statements, (ii) the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its consolidated financial statements, and (iii) the disclosures that an entity should make about events or transactions that occurred after the balance sheet date. Accordingly, the Company did not have any subsequent events that require disclosure other than the following: ● July 13, 2021 (Acquisition of Charge Savvy LLC)

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Revenue [Policy Text Block]	Revenue Recognition Revenue is recognized upon transfer of control of promised goods or services to the Company’s customers or when the Company satisfies any performance obligations under contract. The amount of revenue reflects the consideration the Company expects to be entitled to in exchange for the respective goods or services provided. Further, under Accounting Standards Codification 606, “ Revenue from Contracts with Customers , The Company’s primary revenue source is generated from payment processing services. Payment processing services revenue is based on a percentage of each transaction’s value and/or upon fixed amounts specified per each transaction or service and is recognized as such transactions or services are performed, at a point in time.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurement The standard describes three levels of inputs that may be used to measure fair value: Level 1- Quoted prices in active markets for identical assets or liabilities. Level 2- Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3- Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table describes the valuation techniques used to calculate the fair value for assets in Level 3. The significant unobservable input used in the fair value measurement of the Company’s identifiable intangible assets is discount rate. The change in this input could result in a change of fair value measurement: Fair Value at May 21, 2021 Valuation Technique Unobservable Input Range Customer Relationship $ 264,663 Multiple-period excess earnings method Discount rate 15.90 %
Property, Plant and Equipment, Policy [Policy Text Block]	Goodwill and Other Intangible Assets The Company accounts for acquisitions of businesses in accordance with the acquisition method. Goodwill represents the excess of the purchase price of acquired businesses over the fair value of the identifiable assets acquired and liabilities assumed. Acquisition costs are expensed as incurred. Goodwill and other intangible assets acquired in a business combination determined to have an indefinite useful life are generally not amortized, but instead are tested for impairment at least annually and more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. Other intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever management believes that events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. To the extent that the carrying value is determined to be unrecoverable, an impairment loss is recognized through a charge to expense. As of December 31, 2020, the Company does not believe that impairment indicators are present, and accordingly, based on this assessment, no further impairment analysis was performed.
Income Tax, Policy [Policy Text Block]	Income Taxes
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share A basic earnings per share is computed by dividing net income to common stockholders by the weighted average number of shares outstanding for the year. Dilutive earnings per share include the effect of any potentially dilutive debt or equity under the treasury stock method, if including such instruments is dilutive. The Company’s diluted earnings/loss per share is the same as the basic earnings/loss per share for the three and six months ended June 30, 2021 and 2020, as there are no potential shares outstanding other than options that would have a dilutive effect.
Stockholders' Equity, Policy [Policy Text Block]	Reverse Common Stock Split (1 for 6) On February 17, 2021, the Company effected a reverse stock split of the Company’s shares of common stock outstanding and a proportional decrease of the Company’s authorized shares of common stock at a ratio of one-for-six (the “Stock Split”). Following the Stock Split, the Company has 82,500,000 shares of common stock authorized (the number of authorized shares of Preferred Stock remains 5,000,000). As a result, common shares information has been retrospectively restated accordingly in the financial statements as of and for the three and six months ended June 30, 2020.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Updates In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This standard removes, modifies, and adds certain disclosure requirements for fair value measurements, and is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company adopted ASU No. 2018-13 in the first quarter of fiscal 2020, coinciding with the standard’s effective date, and the adoption did not have any impact to the Company’s financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company’s accounting for the service element of a hosting arrangement that is a service contract is not affected by the proposed amendments and will continue to be expensed as incurred in accordance with existing guidance. This standard does not expand on existing disclosure requirements except to require a description of the nature of hosting arrangements that are service contracts. This standard is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, and can be adopted either prospectively or retrospectively. Accordingly, the Company adopted the updated disclosure requirements of ASU No. 2018-15 prospectively in the first quarter of fiscal 2020, coinciding with the standard’s effective date, and the adoption did not have any impact to the Company’s financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes. This standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740, Income Taxes, while also clarifying and amending existing guidance, including interim-period accounting for enacted changes in tax law. This standard is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company adopted ASU No. 2019-12 in the first quarter of fiscal 2020 and the adoption did not have any impact to the Company’s financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard provides optional guidance for a limited time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this standard apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The amendments in this standard are elective and are effective upon issuance for all entities. The Company is evaluating the expedients and exceptions provided by the amendments in this standard to determine their impact. Other recently issued accounting updates are not expected to have a material impact on the Company’s Interim Financial Statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table describes the valuation techniques used to calculate the fair value for assets in Level 3. The significant unobservable input used in the fair value measurement of the Company’s identifiable intangible assets is discount rate. The change in this input could result in a change of fair value measurement: Fair Value at May 21, 2021 Valuation Technique Unobservable Input Range Customer Relationship $ 264,663 Multiple-period excess earnings method Discount rate 15.90 %

ACQUISITION (Tables)

ACQUISITION (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following summarizes the estimated fair values of the net assets acquired: Tangible assets (liabilities): Net assets and liabilities $ (70,057 ) Intangible assets: Customer relationships 264,663 Goodwill 2,305,394 2,570,057 Total net assets acquired $ 2,500,000

CONVERTIBLE NOTES PAYABLE (Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Convertible Debt [Table Text Block]	Convertible notes payable consisted of the following: June 30, 2021 December 31, 2020 October 27, 2020 ($3,850,000) $ - $ 3,850,000 Total convertible notes payable - 3,850,000 Debt discount - (2,993,408 ) Total convertible notes payable, net of debt discount $ - $ 856,592

STOCK OPTION AWARDS (Tables)

STOCK OPTION AWARDS (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair value of each share option award on the date of grant was estimated using the Black-Scholes method based on the following weighted-average assumptions: June 30, 2021 December 31, 2020 Risk-free interest rate 0.29 % 0.29 % Expected term 5 years 5 years Expected volatility 396.64 % 289.33% to 279.18 % Expected dividend yield - -
Share-based Payment Arrangement, Option, Activity [Table Text Block]	A summary of the status of our stock options is presented below as of June 30, 2021: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding at December 31, 2020 514,607 $ 2.30 0.00 $ 3,365,527 Granted 230,122 10.59 Exercised (100,802 ) 0.46 Forfeited or expired (68,428 ) 2.50 Outstanding at June 30, 2021 575,499 7.06 0.21 6,865,703 Exercisable as of June 30, 2021 446,295 5.37 0.21 5,324,299 Vested and expected to Vest as of June 30, 2021 547,834 6.80 0.21 6,535,660

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of June 31, 2021 goodwill and intangible assets consists of the following: June 30, 2021 Amortization Period Cost Accumulated Amortization Net Customer relationships 5 years $ 264,663 $ 6,915 $ 257,748 Goodwill $ 2,305,394 $ - $ 2,305,394 Total goodwill and intangibles $ 2,563,142
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Intangible assets with finite lives are amortized over the estimated periods benefitted on a straight- line basis. Amortization expense on intangible assets with finite lives for the period from May 21, 2021 (the acquisition date of Northeast) to June 30, 2021 was $6,915 and is included in depreciation and amortization expense in the unaudited condensed consolidated statement of operations and comprehensive loss. Amortization expense related to intangible assets for each of the next five fiscal years and thereafter is expected as follows: Years Ending December 31, 2021 $ 26,466 2022 52,932 2023 52,932 2024 52,932 2025 52,932 Thereafter 19,554 $ 257,748

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	Jun. 30, 2021	Feb. 17, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Common Stock, Shares Authorized	82,500,000	82,500,000	82,500,000
Preferred Stock, Shares Authorized	5,000,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation	6 Months Ended
	Jun. 30, 2021USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Customer Relationship, Fair Value	$ 264,663
Customer Relationship, Valuation Technique	Multiple-period excess earnings method
Customer Relationship, Unobservable Input	Discount rate
Customer Relationship, Range	0.1590

ACQUISITION (Details)

ACQUISITION (Details) - Charge Savvy LLC [Member]	May 21, 2021USD ($)
ACQUISITION (Details) [Line Items]
Business Combination, Consideration Transferred	$ 2,500,000
Business Combination, Contingent Consideration, Liability	$ 500,000

ACQUISITION (Details) - Schedul

ACQUISITION (Details) - Schedule of Business Acquisitions, by Acquisition	May 21, 2021USD ($)
Tangible assets (liabilities):
Net assets and liabilities	$ (70,057)
Intangible assets:
Intangible assets	2,570,057
Total net assets acquired	2,500,000
Customer Relationships [Member]
Intangible assets:
Intangible assets	264,663
Goodwill [Member]
Intangible assets:
Intangible assets	$ 2,305,394

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details) - Kingswood Capital Markets [Member] - USD ($)	Oct. 27, 2020	Jun. 30, 2021
CONVERTIBLE NOTES PAYABLE (Details) [Line Items]
Debt Instrument, Face Amount	$ 3,850,000	$ 3,850,000
Debt Instrument, Maturity Date	Jul. 27, 2021	Jul. 27, 2021
Debt Instrument, Convertible, Conversion Price (in Dollars per share)	$ 1.98
Debt Instrument, Unamortized Discount	$ 350,000
Proceeds from Convertible Debt	$ 3,500,000
Class of Warrant or Rights, Granted (in Shares)	1,944,444
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)	$ 1.98
Adjustments to Additional Paid in Capital, Warrant Issued	$ 3,498,667

CONVERTIBLE NOTES PAYABLE (De_2

CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Oct. 27, 2020
Convertible Debt [Member]
CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt [Line Items]
Convertible notes payable	$ 0	$ 856,592
Kingswood Capital Markets [Member]
CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt [Line Items]
Convertible notes payable		3,850,000
Debt discount			$ (350,000)
Debt Date March 15, 2018 [Member] | Convertible Debt [Member]
CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt [Line Items]
Convertible notes payable	0	3,850,000
Convertible Debt [Member]
CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt [Line Items]
Debt discount	$ 0	$ (2,993,408)

CONVERTIBLE NOTES PAYABLE (De_3

CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt (Parentheticals) - Kingswood Capital Markets [Member] - USD ($)	Oct. 27, 2020	Jun. 30, 2021
CONVERTIBLE NOTES PAYABLE (Details) - Convertible Debt (Parentheticals) [Line Items]
Due	Jul. 27, 2021	Jul. 27, 2021
Interest		10.00%
Principal	$ 3,850,000	$ 3,850,000
Date		Oct. 27, 2020

NOTE PAYABLE, PAYROLL PROTECT_2

NOTE PAYABLE, PAYROLL PROTECTION PLAN LOAN (Details) - Preferred Bank PPP Loan [Member]	Apr. 29, 2020USD ($)
NOTE PAYABLE, PAYROLL PROTECTION PLAN LOAN (Details) [Line Items]
Debt Instrument, Face Amount	$ 272,713
Debt Instrument, Term	2 years
Debt Instrument, Interest Rate, Stated Percentage	1.00%

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - SBA CARES Act Loan [Member]	Jun. 09, 2020USD ($)
LONG-TERM DEBT (Details) [Line Items]
Debt Instrument, Term	30 years
Debt Instrument, Face Amount	$ 149,900
Debt Instrument, Interest Rate, Stated Percentage	3.75%
Debt Instrument, Periodic Payment	$ 731
Debt Instrument, Maturity Date	Jun. 9, 2021

STOCK OPTION AWARDS (Details)

STOCK OPTION AWARDS (Details) - Share-based Payment Arrangement, Option [Member] - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
STOCK OPTION AWARDS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares)	3,300,000		3,300,000		3,300,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Payment Arrangement, Noncash Expense		$ 1,291,887	$ 12,130	$ 2,089,500	$ 12,130
Share Price (in Dollars per share)		$ 11.93		$ 11.93
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares)		329,599		329,599

STOCK OPTION AWARDS (Details) -

STOCK OPTION AWARDS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
STOCK OPTION AWARDS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]
Risk-free interest rate	0.29%	0.29%
Expected term	5 years	5 years
Expected volatility	396.64%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
STOCK OPTION AWARDS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]
Expected volatility	289.33%
Maximum [Member]
STOCK OPTION AWARDS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]
Expected volatility		279.18%

STOCK OPTION AWARDS (Details)_2

STOCK OPTION AWARDS (Details) - Share-based Payment Arrangement, Option, Activity	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Share-based Payment Arrangement, Option, Activity [Abstract]
Outstanding, Shares | shares		514,607
Outstanding, Weighted- Average Exercise Price | $ / shares		$ 2.30
Outstanding, Weighted- Average Remaining Contractual Life	2 months 15 days	0 years
Outstanding, Aggregate Intrinsic Value | $	$ 6,865,703	$ 3,365,527
Granted, Shares | shares	230,122
Granted, Weighted- Average Exercise Price | $ / shares	$ 10.59
Exercise, Shares | shares	(100,802)
Exercised, Weighted- Average Exercise Price | $ / shares	$ 0.46
Forfeited or Expired, Shares | shares	(68,428)
Forfeited or Expired, Weighted- Average Exercise Price | $ / shares	$ 2.50
Outstanding, Shares | shares	575,499
Outstanding, Weighted- Average Exercise Price | $ / shares	$ 7.06
Outstanding, Aggregate Intrinsic Value | $	$ 6,865,703	$ 3,365,527
Exercisable, Shares | shares	446,295
Exercisable, Weighted- Average Exercise Price | $ / shares	$ 5.37
Exercisable, Weighted- Average Remaining Contractual Life	2 months 15 days
Exercisable at December 31, 2020 | $	$ 5,324,299
Vested and Expected to Vest, Shares | shares	547,834
Vested and Expected to Vest, Weighted- Average Exercise Price | $ / shares	$ 6.80
Vested and Expected to Vest, Weighted- Average Remaining Contractual Life	2 months 15 days
Vested and Expected to Vest, Aggregate Intrinsic Value | $	$ 6,535,660

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 6,915	$ 6,915	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - Schedule of Intangible Assets and Goodwill - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Schedule of Intangible Assets and Goodwill [Abstract]
Customer relationships	5 years
Customer relationships	$ 264,663
Customer relationships	6,915
Customer relationships	257,748
Goodwill	2,305,394
Goodwill	0
Goodwill	2,305,394	$ 0
Total goodwill and intangibles	$ 2,563,142

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [	Jun. 30, 2021USD ($)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [ [Abstract]
2021	$ 26,466
2022	52,932
2023	52,932
2024	52,932
2025	52,932
Thereafter	19,554
	$ 257,748

STOCK REPURCHASE PROGRAM (Detai

STOCK REPURCHASE PROGRAM (Details) - USD ($)	2 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2021
Brokers and Dealers [Abstract]
Stock Repurchased During Period, Shares	90,000
Stock Repurchased During Period, Value	$ 933,343	$ 933,343	$ 933,343

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2018	Dec. 31, 2018
Charge Savvy [Member]
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Equity Method Investment, Ownership Percentage	100.00%
Related Party Transaction, Description of Transaction		Sky owns 68.4% of Charge Savvy, LLC (“Charge Savvy”), an Illinois limited liability company. Haller serves as one of three Managing Members of Charge Savvy, along with Higher Ground Capital, LLC (owns 14%), and Jeff Nickel (owns 17.4%).
Monthly Consulting Fee [Member]
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Related Party Transaction, Amounts of Transaction	$ 10,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Nov. 05, 2019	Oct. 31, 2018	Apr. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Damages Sought	April 7, 2021 CPC filed a complaint against GreenBox in San Diego Superior Court. Plaintiff CPC alleges breach of contract, breach of implied covenant of good faith and fair dealing, goods and services rendered, negligent misrepresentation, violation of CA Business and Professions Code Section 17200, and unjust enrichment. The crux of CPC’s claim is that GreenBox failed to compensate for certain consulting and corporate advisory services. GreenBox believes the claims are without merit and intends to defend itself vigorously. On June 17, 2021 GreenBox filed a Cross-Complaint for breach of contract, breach of implied covenant of good faith and fair dealing, negligent misrepresentation, unjust enrichment, and rescission. The parties are now in the discovery phase, with Plaintiff’s first responses due August 30, 2021. The Case Management Conference is scheduled for April 29, 2022.      ● GreenBox POS v. A.M.P of Florida, Inc. (AMP) – On March 9, 2021, GreenBox POS (mistakenly identified as “GreenBox POS, LLC”) filed suit against AMP in U.S.D.C for the middle district of Florida alleging breach of oral contract, conversion, and civil theft. GreenBox filed suit in order to recover processed funds unlawfully withheld by AMP. The parties are in preliminary settlement negotiations. Although it is premature to provide a predicted outcome at this time, GreenBox is confident that this matter will be resolved well in advance of the 2022 trial date.      ● America 2030 Capital Limited and Bentley Rothschild Capital Limited – On or about October 31, 2018, Nisan and Errez received constitutive notice, regarding arbitration against Nisan, Errez, PrivCo and possibly PubCo, from Bentley Rothschild Capital Limited ("Bentley") and America 2030 Capital Limited (“America 2030”), both located in Nevis, West Indies, and both claiming breach of contract by Nisan and Errez of Nisan and Errez’s respective individual Master Loan Agreements and seeking forfeiture of 266,667 PubCo shares that PrivCo had transferred, on or about August 1, 2018, from PrivCo’s Control Shares under the terms of the MLAs. As of June 30, 2020, both parties have abandoned the matter and no further action was required by either party.      ● The Good People Farms, LLC (TGPF) – TGPF initiated an arbitration in AAA on or about April 20, 2020 against Greenbox POS, Fredi Nisan, Ben Errez, MTrac Tech., Vanessa Luna, and Jason LeBlanc. The matter was placed in abeyance for some time. On January 15, 2021 GreenBox filed a counter-claim for fraud – intentional misrepresentation, breach of contract, breach of covenant of good faith and fair dealing, violation of California Business and Professions Code Section 17200, and accounting. An arbitrator has been selected and the parties are awaiting the scheduling of the preliminary conference. The arbitration is stayed pending further proceedings in the separate but related action filed by MTrac in San Diego Superior Court.  Operating Leases The Company entered into the following operating facility leases:    ● Hyundai Rio Vista – On October 4, 2018, the Company entered into an operating facility lease for its corporate office located in San Diego with 38 months term and with option to renew. The lease started on October 4, 2018 and expires on October 3, 2021.    ● Camino Del Rio – On and effective April 2021, the Company entered into an operating facility lease for its corporate office located in San Diego with monthly lease payments of $33,135 per month.	● America 2030 Capital Limited and Bentley Rothschild Capital Limited – On or about October 31, 2018, Nisan and Errez received constitutive notice, regarding arbitration against Nisan, Errez, PrivCo and possibly PubCo, from Bentley Rothschild Capital Limited ("Bentley") and America 2030 Capital Limited (“America 2030”), both located in Nevis, West Indies, and both claiming breach of contract by Nisan and Errez of Nisan and Errez’s respective individual Master Loan Agreements and seeking forfeiture of 266,667 PubCo shares that PrivCo had transferred, on or about August 1, 2018, from PrivCo’s Control Shares under the terms of the MLAs.
Operating Lease, Expense			$ 33,135
Operating Lease, Right-of-Use Asset				$ 832,636	$ 117,795
Operating Lease, Liability				$ 833,231

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Charge Savvy LLC [Member] - Subsequent Event [Member]	Jul. 13, 2021ft²$ / sharesshares
SUBSEQUENT EVENTS (Details) [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	900,000
Common Stock, Shares Authorized	1,000,000
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares	$ 0.001
Remaining Shares	100,000
Area of Real Estate Property (in Square Feet) | ft²	61,000