Boxlight (BOXL) 10-Q/A 16 Aug 18 2018 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 14, 2018
Document And Entity Information
Entity Registrant Name	Boxlight Corp
Entity Central Index Key	1,624,512
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2018
Amendment Flag	true
Amendment Description	This Amendment No. 1 on Form 10-Q/A for the quarter ended March 31, 2018 amends the Form 10-Q that was originally filed on May 15, 2018. Subsequent to the filing of the Company's Form 10-Q filed on May 15, 2018, the Company identified (1) misstatements of stock compensation expense and (2) improper classification of certain warrants with net cash and non-fixed settlement provisions through internal discussions and reviews. The Company is filing this amendment to (i) correct the misstatement to stock compensation and to reflect the reclassification of certain warrants from equity to liabilities, and (ii) make corresponding amendments to Item 2 - "Management's Discussion and Analysis of Financial Condition and Results of Operations" ("MD&A"). This Amendment No. 1 does not reflect subsequent events occurring after the original filing date of the Original 10-Q or modify or update in any way disclosures made in the Original 10-Q except as noted above. This Amendment No. 1 should be read in conjunction with the Original 10-Q and with other Company filings with the Securities and Exchange Commission subsequent to the filing of the Original 10-Q.
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,648,198
Trading Symbol	BOXL
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current asset:
Cash and cash equivalents	$ 448,345	$ 2,010,325
Accounts receivable - trade, net of allowances	3,083,668	3,089,932
Inventories, net of reserve	3,738,723	4,626,569
Prepaid expenses and other current assets	1,227,995	388,006
Total current assets	8,498,731	10,114,832
Property and equipment, net of accumulated depreciation	25,095	29,752
Intangible assets, net of accumulated amortization	5,943,368	6,126,558
Goodwill	4,181,991	4,181,991
Other assets	316	292
Total assets	18,649,501	20,453,425
Current liabilities:
Accounts payable and accrued expenses	2,415,090	2,994,918
Accounts payable and accrued expenses - related parties	4,739,569	4,391,713
Short-term debt	819,960	752,449
Short-term debt - related party	54,000	54,000
Convertible notes payable - related party	50,000	50,000
Deferred revenues - short-term	483,243	1,127,423
Derivative liabilities	846,319	1,857,252
Total current liabilities	9,408,181	11,227,755
Deferred revenues - long-term	175,915	175,294
Total liabilities	9,584,096	11,403,049
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value, 50,000,000 shares authorized; 250,000 shares issued and outstanding	25	25
Common stock, $0.0001 par value, 200,000,000 shares authorized; 9,648,197 and 9,558,997 Class A shares issued and outstanding, respectively	965	956
Additional paid-in capital	22,041,151	21,125,956
Subscriptions receivable	(325)	(325)
Accumulated deficit	(12,933,426)	(12,028,388)
Other comprehensive loss	(42,985)	(47,848)
Total stockholders' equity	9,065,405	9,050,376
Total liabilities and stockholders' equity	$ 18,649,501	$ 20,453,425

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	250,000	250,000
Preferred stock, shares outstanding	250,000	250,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Class A Common Stock [Member]
Common stock, shares issued	9,648,197	9,558,997
Common stock, shares outstanding	9,648,197	9,558,997

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 5,996,685	$ 4,194,429
Cost of revenues	4,515,713	2,994,683
Gross profit	1,480,972	1,199,746
Operating expense:
General and administrative expenses	3,194,013	2,451,206
Research and development	92,505	190,445
Total operating expense	3,286,518	2,641,651
Loss from operations	(1,805,546)	(1,441,905)
Other income (expense):
Interest expense, net	(146,928)	(169,091)
Other income (expense), net	(13,461)	49,646
Gain on settlement of liabilities	25,738
Change in fair value of derivative liabilities	1,035,159
Total other income (expense)	900,508	(119,445)
Net loss	(905,038)	(1,561,350)
Comprehensive loss:
Net loss	(905,038)	(1,561,350)
Other comprehensive loss:
Foreign currency translation gain (loss)	4,863	(23,713)
Total comprehensive loss	$ (900,175)	$ (1,585,063)
Net loss per common share -basic and diluted	$ (0.09)	$ (0.34)
Weighted average number of common shares outstanding - basic and diluted	9,617,234	4,621,687

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (905,038)	$ (1,561,350)
Adjustments to reconcile net loss to net cash used in operating activities:
Bad debt expense	49,432	78,708
Change in allowance for sales returns and volume rebate	(34,828)	56,233
Change in inventory reserve	(54,267)	(11,476)
Stock compensation expense	520,914	47,165
Depreciation and amortization	187,847	192,225
Gain on settlement of accounts payable	(25,738)
Gain on derivative liabilities	(1,035,159)
Changes in operating assets and liabilities:
Accounts receivable -trade	(8,240)	(87,053)
Inventories	942,113	584,062
Prepaid expenses and other current assets	(838,031)	(771,039)
Accounts payable and accrued expenses	(553,436)	265,145
Accounts payable and accrued expenses -related parties	347,858	1,119,606
Deferred revenues	(643,559)	(65,557)
Other short-term liabilities		(263)
Accrued interest on long-term debt - related parties		40,220
Net cash used in operating activities	(2,050,132)	(113,374)
Cash flows from financing activities:
Proceeds from short-term debt	4,714,094
Proceeds from convertible note payable		1,000,000
Principal payments on short-term debt	(4,646,582)	(720,291)
Principal payments on short-term debt-related party		(195,000)
Proceeds from issuance of common stock	420,000
Proceeds from issuance of common stock upon exercise of options	3
Net cash provided by financing activities	487,515	84,709
Effect of foreign currency exchange rates	637	(26,263)
Net decrease in cash and cash equivalents	(1,561,980)	(54,928)
Cash and cash equivalents, beginning of the period	2,010,325	456,502
Cash and cash equivalents, end of the period	448,345	401,574
Supplemental cash flow disclosures:
Cash paid for interest	144,364	112,915
Cash paid for income taxes

Organization and Significant Ac

Organization and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	NOTE 1 – ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES THE COMPANY Boxlight Corporation (the “Company” or “Boxlight Parent”) was incorporated in the State of Nevada on September 18, 2014 with its headquarters in Atlanta, Georgia for the purpose of becoming a technology company that sells interactive educational products. In 2016, the Company acquired Boxlight, Inc., Boxlight Latinoamerica, S.A. DE C.V. (“BLA”) and Boxlight Latinoamerica Servicios, S.A. DE C.V. (“BLS”) (together, “Boxlight Group”), Mimio LLC (“Mimio”) and Genesis Collaboration, LLC (“Genesis”). The Company currently designs, produces and distributes interactive technology solutions to the education market. BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Boxlight Corporation, Boxlight Group, Mimio and Genesis. Transactions and balances among Boxlight Corporation, Boxlight Group, Mimio and Genesis have been eliminated. The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim unaudited consolidated financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2017 and notes thereto contained in the Company’s Annual Report on Form 10-K. ESTIMATES AND ASSUMPTIONS The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, 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 amounts could differ from those estimates. Significant estimates include estimates of allowances for bad debts, inventory obsolescence, initial valuations and recoverability of intangible assets including goodwill, stock compensation, and estimates for contingent liabilities related to debt obligations and litigation matters. FOREIGN CURRENCIES The Company’s functional currency is the U.S. dollar. BLA and BLS’s functional currency is the Mexican Peso. The Company translates their financial statements from their functional currencies into the U.S. dollar. An entity’s functional currency is the currency of the primary economic environment in which it operates and is generally the currency in which the business generates and expends cash. BLA and BLS, whose functional currency is the Mexican Peso, translate their assets and liabilities into U.S. dollars at the exchange rates in effect as of the balance sheet date. Revenues and expenses are translated into U.S. dollars at the average exchange rates for the period. Translation adjustments are included in accumulated other comprehensive loss, a separate component of equity (deficit). Foreign exchange gains and losses included in net income result from foreign exchange fluctuations on transactions denominated in a currency other than an entity’s functional currency. CASH AND CASH EQUIVALENTS The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. The Company maintains cash balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits of $250,000 for banks located in the U.S. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any rick of loss on its cash bank accounts. ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable are stated at historical carrying amounts, net of write-offs and allowance for doubtful accounts. Allowance for doubtful accounts represents management’s estimate of the amount that ultimately will be realized in cash. The Company reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical payment trends, the age of receivables and knowledge of the individual customers. When the analysis indicates, management increases or decreases the allowance accordingly. However, if the financial condition of our customers were to deteriorate, additional allowances might be required. INVENTORIES Inventories are stated at the lower of cost or net realizable value and included spare parts and finished goods. Inventories are primarily determined using the specific identification method and the first-in, first-out (“FIFO”) cost method. Cost includes direct cost from the contract manufacturer (“CM”) or original equipment from manufacturer (“OEM”), plus material overhead related to the purchase, inbound freight and import duty costs. The Company continuously reviews its inventory levels to identify slow-moving merchandise and markdowns necessary to clear slow-moving merchandise, which reduces the cost of inventories to its estimated net realizable value. Consideration is given to a number of quantitative and qualitative factors, including current pricing levels and the anticipated need for subsequent markdowns, aging of inventories, historical sales trends, and the impact of market trends and economic conditions. Estimates of markdown requirements may differ from actual results due to changes in quantity, quality and mix of products in inventory, as well as changes in consumer preferences, market and economic conditions. PROPERTY AND EQUIPMENT Property and equipment is stated at cost and depreciated using the straight-line method over the estimated life of the asset. Repairs and maintenance are charged to expense as incurred. LONG–LIVED ASSETS Long-lived assets to be held and used or disposed of other than by sale are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When required, impairment losses on assets to be held and used or disposed of other than by sale are recognized based on the fair value of the asset. Long-lived assets to be disposed of by sale are reported at the lower of its carrying amount or fair value less cost to sell. Intangible assets Intangible assets are amortized using the straight-line method over their estimated period of benefit. We evaluate the recoverability of intangible assets periodically and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. No material impairments of intangible assets have been identified during any of the periods presented. Intangible assets and goodwill are tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist, using a fair-value-based approach. Goodwill is not amortized and is not deductible for tax purposes. DERIVATIVES The Company classifies Common Stock purchase warrants and other free standing derivative financial instruments as equity if the contracts (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement), or (iii) contain reset provisions as either an asset or a liability. The Company assesses classification of its freestanding derivatives at each reporting date to determine whether a change in classification between equity and liabilities is required. The Company determined that certain warrants to purchase common stock do not satisfy the criteria for classification as equity instruments due to the existence of certain net cash and non-fixed settlement provisions that are not within the sole control of the Company. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments primarily include cash, accounts receivable, prepayments, derivative liabilities and accounts payable. Due to the short-term nature of cash, receivables, prepayments and accounts payable the carrying amounts of these assets and liabilities approximate their fair value. Derivatives are recorded at fair value at each period end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). As required by Accounting Standard Codification (“ASC”) Topic No. 820 - 10 Fair Value Measurement The following table sets forth, by level within the fair value hierarchy, the Company’s financial liabilities that were accounted for at fair value on a recurring basis as of March 31, 2018: Markets for Identical Assets Other Observable Inputs Significant Unobservable Inputs Carrying Value as of March 31, Description (Level 1) (Level 2) (Level 3) 2018 Derivative liabilities - warrant instruments $ - $ - $ 846,319 $ 846,319 $ 846,319 $ 846,319 DEFERRED REVENUE Deferred revenue represents amounts collected for any extended warranty that is separately priced. The Company recognizes revenue from extended warranty contracts using the straight-line method over the estimated life of the product which is three years. REVENUE RECOGNITION Revenue is comprised of product sales and service revenue, net of sales returns, co-operative advertising credits, early payment discounts, and special incentive payments (“SPIFF”) paid to the value-added resellers (“VARs”). The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is reasonably assured. Revenue from product sales is derived from the sale of projectors, interactive panels and related accessories. Evidence of an arrangement consists of an order from its distributors, resellers or end users. The Company considers delivery to have occurred once title and risk of loss has been transferred. Service revenue is comprised of product installation services and training services. These service revenues are normally entered into at the time products are sold. Service prices are established depending on product equipment sold and include a cost value for the estimated services to be performed based on historical experience. The Company outsources installation and training services to third parties and recognizes revenue upon completion of the services. The Company evaluates the criteria outlined in FASB ASC Subtopic 605-45, Principal Agent Considerations, in determining whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as revenue. Generally, when the Company is primarily obligated in a transaction, is subject to inventory risk, has latitude in establishing prices and selecting suppliers, or has several but not all of these indicators, revenue is recorded at the gross amount. If the Company is not primarily obligated and amounts earned are determined using a fixed percentage, a fixed-payment schedule, or a combination of the two, the Company generally records the net amounts as revenue earned. The Company’s standard terms and conditions of sale do not allow for product returns and it generally does not allow product returns other than under warranty. However, the Company, on a case by case basis, will grant exceptions, mostly “buyer’s remorse” where the VAR’s end user customer either did not understand what they were ordering, or determined that the product did not meet their needs. An allowance for sales returns is estimated based on an analysis of historical trends. While the Company uses resellers and distributors to sell its products, the Company’s sale agreements do not contain any special pricing incentives, right of return or other post shipment obligations. The Company has warranty policy to provide 12 to 36 months warranty coverage on projectors, displays, accessories, batteries and computers except when sold through a “Premier Education Partner” or sold to schools where the Company provides a 60 month warranty. The Company establishes a liability for estimated product warranty costs at the time product revenue is recognized, if the liability is expected to be material. The warranty obligation is affected by product failure rates and the related use of materials, labor costs and freight incurred in correcting any product failure. Should actual product failure rates, use of materials, or other costs differ from the Company’s estimates, additional warranty liabilities could be required, which would reduce its gross profit. The Company offers sales incentives where the Company offers discounted products delivered by the Company to its resellers and distributors that are redeemable only if the resellers and distributors complete specified cumulative levels of revenue agreed to and written into their reseller and distributor agreements through an executed addendum. The resellers and distributors have to submit a request for the discounted products and cannot redeem additional discounts within 180 days from the date of the discount given on like products. The value of the award products as compared to the value of the transactions necessary to earn the award is generally insignificant in relation to the value of the transactions necessary to earn the award. The Company estimates and records the cost of the products related to the incentive as marketing expense based on analyses of historical data. RESEARCH AND DEVELOPMENT EXPENSES Research and development costs are expensed as incurred and consists primarily of personnel related costs, prototype and sample costs, design costs, and global product certifications mostly for wireless certifications. INCOME TAXES An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carryforwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. SHARE-BASED COMPENSATION The Company estimates the fair value of each share-based compensation award at the grant date by using the Black-Scholes option pricing model. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest. Excess tax benefits, if any, are recognized as an addition to paid-in capital. SUBSEQUENT EVENTS The Company has evaluated all transactions through the financial statement issuance date for subsequent event disclosure consideration. NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606).” The new guidance provides new criteria for recognizing revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new guidance requires expanded disclosures to provide greater insight into both revenue that has been recognized and revenue that is expected to be recognized in the future from existing contracts. Quantitative and qualitative information will be provided about the significant judgments and changes in those judgments that management made to determine the revenue that is recorded. This accounting standard update, as amended, will be effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. Early adoption is permitted, but no earlier than fiscal 2017. Since the company is an Emerging Growth Company, adoption is not required until 2019. The Company is currently assessing the provisions of the guidance and has not determined the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, a pronouncement was issued by FASB that creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The new standard is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of the new pronouncement on its financial statements. There were various other accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 2 – GOING CONCERN These financial statements have been prepared on a going concern basis, which assumes the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt or equity financing to continue operations, and the attainment of profitable operations. As of March 31, 2018, the Company had an accumulated deficit of $12,933,426 and a working capital deficit of $909,450. During the three months ended March 31, 2018, the Company incurred a net loss of $905,038 and net cash used in operations was $2,050,132. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company is seeking to obtain funds for operations from its public or private sales of equity or debt securities or from bank or other loans.

Accounts Receivable - Trade

Accounts Receivable - Trade	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Accounts Receivable - Trade	NOTE 3 – ACCOUNTS RECEIVABLE - TRADE Accounts receivable consisted of the following at March 31, 2018 and December 31, 2017: 2018 2017 Accounts receivable - trade $ 3,855,064 $ 3,846,724 Allowance for doubtful accounts (250,306 ) (200,874 ) Allowance for sales returns and volume rebates (521,090 ) (555,918 ) Accounts receivable - trade, net of allowances $ 3,083,668 $ 3,089,932

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	NOTE 4 – INVENTORIES Inventories consisted of the following at March 31, 2018 and December 31, 2017: 2018 2017 Finished goods $ 3,691,197 $ 4,611,973 Spare parts 165,821 187,158 Reserves for inventory obsolescence (118,295 ) (172,562 ) Inventories, net $ 3,738,723 $ 4,626,569 During the three months ended March 31, 2018 and 2017, the Company wrote off obsolete inventories of $0 and $24,531, respectively.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	NOTE 5 – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following at March 31, 2018 and December 31, 2017: 2018 2017 Prepayments to vendors $ 881,024 $ 295,448 Employee receivables - 6,203 Prepaid local taxes - 1,015 Prepaid and refundable income taxes 1,262 33,435 Prepaid insurance 122,832 - Prepaid licenses and other 222,877 51,905 Prepaid expenses and other current assets $ 1,227,995 $ 388,006

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following at March 31, 2018 and December 31, 2017: Useful lives 2018 2017 Leasehold improvements 9-10 years $ 3,355 $ 3,355 Office equipment 3-5 years 21,341 21,341 Other equipment 5 years 42,485 42,485 Property and equipment, at cost 67,181 67,181 Accumulated depreciation (42,086 ) (37,429 ) Property and equipment, net of accumulated depreciation $ 25,095 $ 29,752 For the three months ended March 31, 2018 and 2017, the Company recorded depreciation expense of $4,657 and $15,189 respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	NOTE 7 – INTANGIBLE ASSETS AND GOODWILL Intangible assets and goodwill consisted of the following at March 31, 2018 and December 31, 2017: Useful lives 2018 2017 Patents 10 years $ 67,395 $ 67,395 Customer relationships 10 years 3,567,396 3,567,396 Trademarks 10 years 3,554,932 3,554,932 Intangible assets, at cost 7,189,723 7,189,723 Accumulated amortization (1,246,355 ) (1,063,165 ) Intangible assets, net of accumulated amortization $ 5,943,368 $ 6,126,558 Goodwill from acquisition of Mimio N/A $ 44,931 $ 44,931 Goodwill from acquisition of Boxlight N/A 4,137,060 4,137,060 $ 4,181,991 $ 4,181,991 For the three months ended March 31, 2018 and 2017, the Company recorded amortization expense of $183,190 and $177,036, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	NOTE 8 – DEBT The following is a summary of our debt at March 31, 2018 and December 31, 2017 March 31, 2018 December 31, 2017 Short-term debt – third parties Note payable – AHA 125,000 250,000 Accounts receivable financing – Sallyport Commercial 694,960 502,449 Total short-term debt –third parties 819,960 752,449 Short-term debt – related parties Note payable – Logical Choice Corporation - Delaware 54,000 54,000 Convertible debt – related party Convertible note payable – Mark Elliott 50,000 50,000 Total debt $ 923,960 $ 856,449 Short-Term Debt - Third Parties: AHA Note On June 3, 2016, prior to the Company’s acquisition of Boxlight Group, Boxlight Group issued a promissory note to AHA Inc. Co Ltd. (“AHA”), a Korean corporation, in the amount of $1,895,413 to settle unpaid accounts payable of $1,866,418 for purchases of inventory. Interest shall be payable in the amount of 6.5% per annum. The principal was due and payable in eight equal monthly principal payments in the amount of $236,926 beginning on June 30, 2016. Interest was to be paid in consecutive monthly installments for eight months. On November 29, 2017, the outstanding principal and interest were reduced to $500,000 related to a settlement agreement reached with AHA, resulting in a gain on settlement of $304,913. Pursuant to the settlement agreement, the Company was required to pay $250,000 on or before December 2017 and the remaining principal is due in six equal monthly payment of $41,667 commencing January 2018. The outstanding balance on the note payable to AHA was $125,000 and $250,000 at March 31, 2018 and December 31, 2017, respectively. The Company has made monthly payments in 2018 pursuant to the repayment schedule. Accounts Receivable Financing – Sallyport Commercial Finance On August 15, 2017, Boxlight Inc., and Genesis entered into a 12-month term account sale and purchase agreement with Sallyport Commercial Finance, LLC (“Sallyport”). Pursuant to the agreement, Sallyport agreed to purchase 85% of the eligible accounts receivable of the Company with a right of recourse back to the Company if the receivables are not collectible. This agreement requires a minimum monthly sales volume of $1,250,000 with a maximum facility limit of $6,000,000. Advances against this agreement accrue interest at 4% in excess of the highest prime rate publicly announced from time to time with a floor of 4.25%. In addition, the Company is required to pay a $950 audit fee per day. The Company granted Sallyport a security interest in all of Boxlight Inc. and Genesis’ assets. As of March 31, 2018, outstanding principal and accrued interest were $694,960 and $0, respectively. For the three months ended March 31, 2018, the Company incurred interest expense of $144,364. Short-Term Debt - Related Parties: Line of Credit - Logical Choice Corporation-Delaware On May 21, 2014, the Company entered into a line of credit agreement with Logical Choice Corporation-Delaware (“LCC-Delaware”), former sole member of Genesis. The line of credit allowed the Company to borrow up to $500,000 for working capital and business expansion. The funds when borrowed accrued interest at 10% per annum. Interest accrued on any advanced funds was due monthly and the outstanding principal and any accrued interest were due in full on May 21, 2015. In May 2016, the maturity date was extended to May 21, 2018. The assets of Genesis have been pledged as a security interest against any advances on the line of credit. As of March 31, 2018, outstanding principal and accrued interest under this agreement was $54,000 and $16,789, respectively. As of December 31, 2017, outstanding principal and accrued interest under this agreement was $54,000 and $15,916, respectively. Convertible Notes Payable - Third Parties: Convertible Note Payable – Mark Elliott On January 16, 2015, the Company issued a note to Mark Elliott, the Company’s Chief Executive Officer, in the amount of $50,000. The note as amended is due on December 31, 2018and bears interest at an annual rate of 10%, compounded monthly. The noted is currently in default and bears a 15% default rate. The note is convertible into the Company’s common stock at the lesser of (i) $6.28 per share, (ii) a discount of 20% to the stock price if the Company’s common stock is publicly traded, or (iii) if applicable, such other amount negotiated by the Company. The note holder may convert all, but not less than all, of the outstanding principal and interest due under this note. As of March 31, 2018, outstanding principal and accrued interest under this note were $50,000 and $16,041, respectively. As of December 31, 2017, outstanding principal and accrued interest under this note were $50,000 and $14,808, respectively.

Deferred Revenue

Deferred Revenue	3 Months Ended
	Mar. 31, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Deferred Revenue	NOTE 9 – DEFERRED REVENUE The Company has future performance obligations for separately priced extended warranties sold related to its Lamps for Life program and advances from customers. Deferred revenue consisted of the following as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Balance, beginning of the period $ 1,302,717 $ 767,726 Additions 71,903 1,070,528 Amortization or earned (715,462 ) (535,537 ) Balance, ending of the period 659,158 1,302,717 Deferred revenue – short-term 483,243 1,127,423 Deferred revenue – long-term $ 175,915 $ 175,294

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10 – INCOME TAXES The Company operates in the United States and Mexico. Income taxes have been provided based upon the tax laws and rates of the countries in which operations are conducted and income is earned. The Company idled its office in Mexico in 2016. For the three months ended March 31, 2018 and the year ended December 31, 2017, the Company has incurred net losses and, therefore, has no tax liability. The cumulative net operating loss carry-forward on tax basis was approximately $9.0 and $7.6 million at March 31, 2018 and December 31, 2017, respectively. The value of these carryforwards depends on the Company’s ability to generate taxable income. A change in ownership, as defined by federal income tax regulations, could significantly limit the Company’s ability to utilize our net operating loss carryforwards. Additionally, because federal tax laws limit the time during which the net operating loss carryforwards may be applied against future taxes, if the Company fails to generate taxable income prior to the expiration dates the Company may not be able to fully utilize the net operating loss carryforwards to reduce future income taxes. The Company has cumulative losses and there is no assurance of future taxable income, therefore, valuation allowances have been recorded to fully offset the deferred tax asset at March 31, 2018 and December 31, 2017.

Equity

Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Equity	NOTE 11 – EQUITY Preferred Shares The Company’s articles of incorporation provide that the Company is authorized to issue 50,000,000 preferred shares consisting of: 1) 250,000 shares of voting Series A preferred stock, with a par value of $0.0001 per share; 2) 1,200,000 shares of voting Series B preferred stock, with a par value of $0.0001 per share; 3) 270,000 shares of voting Series C preferred stock, with a par value of $0.0001 per share; and 4) 48,280,000 shares to be designated by the Company’s Board of Directors. The Company issued 1,000,000 shares of Series B preferred stock for the acquisition of Genesis and 270,000 shares of Series C preferred stock for the acquisition of Boxlight Group. Upon the completion of the IPO in November 2017, all shares of Series B and C preferred stock related to the acquisitions of Genesis and Boxlight Group were converted to Class A common stock. Upon completion of the Company’s IPO, an aggregate of 250,000 shares of the Company’s non-voting convertible Series A preferred stock were issued to Vert Capital for the acquisition of Genesis. All of the Series A preferred stock shall be automatically converted into Class A common stock no later than November 30, 2018. Common Stock In January 2015, the Company amended its articles of incorporation to state that the Company’s common stock consists of: 1) 150,000,000 shares of Class A voting common stock and 2) 50,000,000 shares of Class B non-voting common stock. Class A and Class B common stock have the same rights except that Class A common stock is entitled to one vote per share while Class B common stock has no voting rights. Upon any public or private sale or disposition by any holder of Class B common stock, such shares of Class B common stock shall automatically convert into shares of Class A common stock. As of March 31, 2018, and December 31, 2017, the Company had 9,648,197 and 9,558,997 shares of Class A common stock issued and outstanding, respectively. No Class B shares were outstanding at March 31, 2018 and December 31, 2017. Issuance of common stock On January 8, 2018, the Company issued 60,000 shares of common stock to K Laser at $7.00 per share for cash of $420,000. Exercise of stock options On March 20, 2018, the former Chief Financial Officer exercised 29,200 stock options and paid a total of $3 for the exercise price.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	NOTE 12 – SHARE-BASED COMPENSATION On September 19, 2014, the Board approved the Company’s 2014 Stock Option Plan. The total number of underlying shares of the Company’s Class A common stock available for grant to directors, officers, key employees, and consultants of the Company or a subsidiary of the Company under the plan is 2,390,438 shares. Grants made under this plan must be approved by the Company’s Board of Directors. As of March 31, 2018, the Company had 684,060 shares reserved for issuance under the plan. In 2018, the Board of Directors approved an increase in the number of shares available for grant by 300,000 shares to 2,690,438 shares. The increase is not finalized and subject to shareholder approval. Stock Options Under our stock option program, an employee receives an award that provides the opportunity in the future to purchase the Company’s shares at the market price of our stock on the date the award is granted (strike price). The options become exercisable over a range of immediate to 4-year vesting period and expire 5 years from the grant date, unless stated differently in the option agreements, if they are not exercised. Stock options have no financial statement effect on the date they are granted but rather are reflected over time through recording compensation expense and increasing shareholder’s equity. We record compensation expense based on the estimated fair value of the awards that vest and that amount is amortized as compensation expense on a straight- line basis over the vesting period. Accordingly, total expense related to the award is reduced by the fair value of options that are forfeited by employees that leave the Company prior to vesting. Following is a summary of the option activities during the three months ended March 31, 2018: Number of Units Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding, December 31, 2017 812,574 $ 3.01 5.64 Granted 927,500 $ 5.10 Exercised (29,200 ) $ 0.0001 Cancelled (4,495 ) $ 7.00 Outstanding, March 31, 2018 1,706,379 $ 4.19 5.10 Exercisable, March 31, 2018 573,955 $ 2.26 5.73 The Company estimates the fair value of each stock option award on the date of grant using a Black- Scholes option pricing model. Outstanding stock option awards may be dilutive to earnings per share when they are in the money (i.e. the market price of the Company’s stock is greater than the strike price of the option). When an option is dilutive, it increases the number of shares used in the diluted earnings per share calculation which will decrease earnings per share. However, the effect stock options have on the number of shares added to the diluted earnings in not one-for-one. The average amount of unrecognized compensation expense (the portion of the fair value of these option awards not yet amortized) and the market price of the Company’s stock during the reporting period affect how many of these potential shares are included in the calculation. The calculation assumes that proceeds received from the exercise and the unrecognized compensation expense are used to buy back shares, which reduces the dilutive impact. As of March 31, 2018, the options had an intrinsic value of approximately $1.7 million. On January 2, 2018, the Company granted 100,000 stock options each, 300,000 options in total, to its President, Chief Executive Officer and former Chief Financial Officer with an exercise price of $5.01 per share vesting monthly over one year. The expiration date of these options is five years from the grant date. These options had an aggregated fair value of approximately $689,000 on the grant date that was calculated using the Black-Scholes option-pricing model. On January 2, 2018, the Company granted 200,000 stock options to its Chief Operating Officer with an exercise price of $5.01 per share vesting monthly over one year. The expiration date of these options is five years from the grant date. These options had a fair value of approximately $459,000 on the grant date that was calculated using the Black-Scholes option-pricing model. On February 14, 2018, the Company granted an aggregate of 367,500 stock options in total to its employees with an exercise price of $5.40 per share vesting quarterly over four years. The expiration date of these options is five years from the grant date. These options had an aggregated fair value of approximately $998,000 on the grant date that was calculated using the Black-Scholes option-pricing model. On March 19, 2018, the Company granted 35,000 stock options to its Chief Financial Officer with an exercise price of $4.00 per share vesting monthly over one year. The expiration date of these options is five years from the grant date. These options had an aggregated fair value of approximately $65,000 on the grant date that was calculated using the Black-Scholes option-pricing model. On March 29, 2018, the Company granted 25,000 stock options to one of its Board of Directors with an exercise price of $4.06 per share vesting quarterly over one year. The expiration date of these options is five years from the grant date. These options had an aggregated fair value of approximately $47,000 on the grant date that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model for options granted during the three months ended March 31, 2018 include: (1) discount rate of 2.01% – 2.45% (2) expected life of 3 – 3.75 years, (3) expected volatility of 66% – 68%, and (4) zero expected dividends. Warrants Following is a summary of the warrants activities during the three months ended March 31, 2018: Number of Units Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding, December 31, 2017 1,070,717 $ 7.57 2.12 Granted 12,000 $ 7.00 1.98 Outstanding, March 31, 2018 1,082,717 $ 7.56 1.88 Exercisable, March 31, 2018 1,032,717 $ 7.56 1.75 During the three months ended March 31, 2018, the Company committed to grant additional 9,000 and 3,000 warrants to Dynamic Capital LLC (“Dynamic”) and Canaan Parish LLC (“Canaan”), entities associated with Adam Levin and to Michael Pope, respectively, in associated with a qualified equity event as defined in the warrants agreements. These warrants had a fair value of $24,226 on measurement date using the binomial option-pricing model and were immediately exercisable upon the issuance. Variables used in the Black-Scholes option-pricing model for options granted during the three months ended March 31, 2018 include: (1) discount rate of 1.96% (2) expected life of 1.98 years, (3) expected volatility of 69%, and (4) zero expected dividends. The warrants granted to Dynamic and Canaan contain net cash settlement provision and do not have fixed settlement provisions because their exercise prices may be lowered if the Company issues securities at lower prices in the future. The Company concluded that the instruments are not indexed to the Company’s stock and are to be treated as derivative liabilities. See Note 17. Stock compensation expense For the three months ended March 31, 2018 and 2017, the Company recorded the following stock compensation expense: 2018 2017 Stock options $ 496,688 $ 47,165 Warrants 24,226 - Total stock compensation expense $ 520,914 $ 47,165 As of March 31, 2018, there was approximately $2.8 million of unrecognized compensation expense related to unvested options, which will be amortized over the remaining vesting period. Of that total, approximately $1.5 million is estimated to be recorded as compensation expense in the remaining nine-months of 2018.

Other Related Party Transaction

Other Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Other Related Party Transactions	NOTE 13 – OTHER RELATED PARTY TRANSACTIONS Management Agreement Effective November 30, 2017, the Company entered into a management agreement with Dynamic Capital, LLC, a Delaware limited liability company owned by the AEL Irrevocable Trust and managed by Adam Levin (“Dynamic Capital”). Pursuant to the agreement, Dynamic Capital shall perform consulting services for the Company relating to, among other things, sourcing and analyzing strategic acquisitions and introductions to various financing sources. Dynamic Capital shall receive a management fee payable in cash equal to 1.125% of total consolidated net revenues for the fiscal years ended December 31, 2017 and 2018, payable in monthly installments. The annual fee is subject to a cap of $750,000 in each of 2017 and 2018. At its option, Dynamic Capital may defer payment until the end of each year and receive payment in the form of shares of Class A common stock of the Company. Dynamic Capital agreed it shall not, nor shall it permit any of its affiliates, members, officers or associates, including the AEL Irrevocable Trust, to purchase, sell or otherwise trade in any shares of Boxlight common stock during the term of the agreement. As of March 31, 2018 and December 31, 2017, the Company had a payable of $94,998 and $35,632, respectively, pursuant to the agreement. On January 31, 2018, the Company entered into a management agreement with an entity owned and controlled by our President and Director, Michael Pope. Effective as of the first day of the same month that Mr. Pope’s employment with the Company shall terminate, and for a term of 13 months, Mr. Pope shall provide consulting services to the Company including sourcing and analyzing strategic acquisitions, assisting with financing activities, and other services. As consideration for the services provided, the Company shall pay a management fee equal to 0.375% of the consolidated net revenues of the Company, payable in monthly installments, not to exceed $250,000 in any calendar year. At his option, Mr. Pope may defer payment until the end of each year and receive payment in the form of shares of Class A common stock of the Company. Sales and Purchases - EDI Everest Display Inc. (“EDI”), an affiliate of the Company’s major shareholder K-Laser, is a major supplier of products to the Company. For the three months ended March 31, 2018 and 2017, the Company had purchases of $1,926,324 and $1,307,918, respectively, from EDI. For the three months ended March 31, 2018 and 2017, the Company had sales of $5,100 and $0, respectively, to EDI. As of March 31, 2018, and December 31, 2017, the Company had accounts payable of approximately of $4,611,000 and $4,325,000, respectively, to EDI.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 14 – COMMITMENTS AND CONTINGENCIES Litigation In July 2015, a supplier filed a lawsuit against the Company for outstanding payables owed by the Company of approximately $72,000. In February 2016, the supplier and the Company agreed to settle the indebted balance for $43,000 provided that the Company pays on or before March 16, 2016. The Company failed to make the payment and the judgement amount was therefore increased to approximately $70,000 plus interest and court costs of approximately $2,300. The Company is currently negotiating new terms with the supplier. On January 29, 2018, the Company entered into a Compromise Settlement and Release Agreement with the supplier, where the Company agreed to settle the indebted balance for $39,000. On January 30, 2018 the Company paid the settlement in full and received a release from the Court. The Company recorded a gain from the settlement of approximately $26,000. On April 2017, a Garnishment Action was filed by Asahi Net, Inc. (“Asahi”) against Vert. Asahi was seeking to garnish funds in the amount of $2,180,881. The Company was listed as a garnishee in the Action because Vert had loaned money to the Company. The Company had already paid Vert in full satisfaction of the loan. On March 1, 2018, the Company was served a claim under the Georgia Uniform Voidable Transactions Act by Asahi, which was seeking to void transactions between the Company and Vert. The Company disputed these allegations. On April 26, 2018, Asahi filed a Notice of Dismissal for both the Garnishment Action as well as the claim under the Georgia Uniform Voidable Transactions Act. On June 1, 2017, the Company was served with a lawsuit from Skyview seeking judgment on the $1,460,508 outstanding balance due under the currently defaulted Skyview Note, plus accrued interest thereon, and also seeking to foreclose on the assets of Mimio that is now owned and operated by our Boxlight, Inc. The Company paid off the $1,460,508 outstanding balance in November 2017. Skyview filed a request for additional attorney fees in the amount of $67,826. On March 14, 2018, the Company satisfied the claim and the acknowledgement of satisfaction of judgement was received on March 21, 2018 from the Court. Operating Lease Commitments The Company leases two offices under non-cancelable lease agreements. The leases provide that the Company pays only a monthly rental and is not responsible for taxes, insurance or maintenance expenses related to the property. Future minimum lease payments of the Company’s operating leases with a term over one year subsequent to March 31, 2018 are as follows: Year ending December 31, Amount 2018 $ 197,700 2019 40,400 Net Minimum Lease Payments $ 238,100 The Company also has another office lease on a month-to-month basis. For the three months ended March 31, 2018 and 2017, aggregate rent expense was approximately $67,000 and $98,000, respectively.

Customer and Supplier Concentra

Customer and Supplier Concentration	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Customer and Supplier Concentration	NOTE 15 – CUSTOMER AND SUPPLIER CONCENTRATION Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases. The Company’s revenues were concentrated among few customers for the three months ended March 31, 2018: Customer Total revenues from the customer to total revenues for the three months ended March 31, 2018 Accounts receivable (deferred revenue) from the customer as of March 31, 2018 (rounded to 000’s) 1 13 % $ 45,000 2 12 % $ (111,000 ) 3 11 % $ 654,000 The loss of the significant customer or the failure to attract new customers could have a material adverse effect on our business, results of operations and financial condition. The Company’s purchases were concentrated among few vendors for the three months ended March 31, 2018: Vendor Total purchases from the vendor to total purchases for the three months ended March 31, 2018 Accounts payable (prepayment) to the vendor as of March 31, 2018 (rounded to 000’s) 1* 44 % $ 4,611,000 2 29 % $ (7,000 ) * EDI, a related party. See note 13. The Company believes there are numerous other suppliers that could be substituted should the supplier become unavailable or non-competitive.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 16 – SUBSEQUENT EVENTS On May 9, 2018, the Company acquired 100% of Cohuborate, Ltd., a developer of touch display technology based in the United Kingdom, for 257,200 shares of the Company’s Class A common stock and $100 British pound sterling. The closing of the acquisition is subject to delivery of Boxlight and Cohuborate’s shares and exchange of documents and shall take place no later than May 15, 2018. The Company will account for the acquisition using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date on the balance sheet. Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired is recorded as goodwill.

Restatement

Restatement	3 Months Ended
	Mar. 31, 2018
Restatement
Restatement	NOTE 17 – RESTATEMENT Subsequent to the issuance of the Company’s consolidated financial statements for the three months ended March 31, 2018 on May 15, 2018, the Company realized that (1) warrants which contain certain net cash settlement and down-round provisions were incorrectly accounted for as equity instruments instead of derivative liabilities; and (2) understatement of stock compensation from not recognizing additional warrants issued to Dynamic and Cannan. The Company recorded derivative liabilities of $846,319 and decreased additional paid in capital and accumulated deficit by $2,614,795 and $1,768,476, respectively at March 31, 2018. The Company also adjusted stock compensation expense and gain on derivative liability for the three months ended March 31, 2018 by $24,226 and $1,035,159, respectively. Following is a summary of the restatement changes made to the consolidated financial statements previously issued as of and for the three months ended March 31, 2018: Originally Reported Restatement As Restated 2018 2018 2018 Consolidated balance sheet: Derivative liabilities $ - $ 846,319 $ 846,319 Additional paid-in capital $ 24,655,946 $ (2,614,795 ) $ 22,041,151 Accumulated deficit $ 14,701,902 $ (1,768,476 ) $ 12,933,426 Consolidated Statement of Operations and Comprehensive Loss: General and administrative $ 3,169,787 $ 24,226 $ 3,194,013 Change in fair value of derivative liabilities $ - $ 1,035,159 $ 1,035,159 Net loss $ 1,915,971 $ (1,010,933 ) $ 905,038 Total comprehensive loss $ 1,911,108 $ (1,010,933 ) $ 900,175 Consolidated Statements of Cash Flows: Net loss $ 1,915,971 $ (1,010,933 ) $ 905,038 Stock compensation $ 496,688 $ 24,226 $ 520,914 Change in fair value of derivative liabilities $ - $ 1,035,159 $ 1,035,159 Derivative liabilities ASC Topic No. 815 - Derivatives and Hedging provides guidance on determining what types of instruments or embedded features in an instrument issued by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in the pronouncement on accounting for derivatives. These requirements can affect the accounting for warrants issued by the Company. At March 31, 2018, the Company had warrants resulting from equity offerings in November 30, 2017 and additional warrants issued upon qualified equity event as defined in the warrants agreements that contain net cash settlement provision and do not have fixed settlement provisions because their conversion and exercise prices may be lowered if the Company issues securities at lower prices in the future, the Company concluded that the instruments are not indexed to the Company’s stock and are to be treated as derivative liabilities. In determining the fair value of the derivative liabilities, the Company used the Black-Scholes option pricing model at March 31, 2018: March 31, 2018 Common stock issuable upon exercise of warrants 1,032,717 Market value of common stock on measurement date $ 4.06 Exercise price $ 7.70 to $7.0 Risk free interest rate(1) 2.27 % Expected life in years 1.76 years Expected volatility (2) 72.36 % Expected dividend yields (3) 0 % (1) The risk-free interest rate was determined by management using the applicable Treasury Bill as of the measurement date. (2) The historical trading volatility was determined by calculating the volatility of the Company’s peers common stock. (3) The Company does not expect to pay a dividend in the foreseeable future. The following table shows the change in the Company’s derivative liabilities that were accounted for at fair value on a recurring basis as of March 31, 2018: Amount Balance, December 31, 2017 $ 1,857,252 Initial valuation of derivative liabilities upon issuance of warrants 24,226 Change in fair value of derivative liabilities (1,035,159 ) Balance, March 31, 2018 846,319

Organization and Significant 23

Organization and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	THE COMPANY Boxlight Corporation (the “Company” or “Boxlight Parent”) was incorporated in the State of Nevada on September 18, 2014 with its headquarters in Atlanta, Georgia for the purpose of becoming a technology company that sells interactive educational products. In 2016, the Company acquired Boxlight, Inc., Boxlight Latinoamerica, S.A. DE C.V. (“BLA”) and Boxlight Latinoamerica Servicios, S.A. DE C.V. (“BLS”) (together, “Boxlight Group”), Mimio LLC (“Mimio”) and Genesis Collaboration, LLC (“Genesis”). The Company currently designs, produces and distributes interactive technology solutions to the education market.
Basis of Presentation and Principles of Consolidation	BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Boxlight Corporation, Boxlight Group, Mimio and Genesis. Transactions and balances among Boxlight Corporation, Boxlight Group, Mimio and Genesis have been eliminated. The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim unaudited consolidated financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2017 and notes thereto contained in the Company’s Annual Report on Form 10-K.
Estimates and Assumptions	ESTIMATES AND ASSUMPTIONS The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, 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 amounts could differ from those estimates. Significant estimates include estimates of allowances for bad debts, inventory obsolescence, initial valuations and recoverability of intangible assets including goodwill, stock compensation, and estimates for contingent liabilities related to debt obligations and litigation matters.
Foreign Currencies	FOREIGN CURRENCIES The Company’s functional currency is the U.S. dollar. BLA and BLS’s functional currency is the Mexican Peso. The Company translates their financial statements from their functional currencies into the U.S. dollar. An entity’s functional currency is the currency of the primary economic environment in which it operates and is generally the currency in which the business generates and expends cash. BLA and BLS, whose functional currency is the Mexican Peso, translate their assets and liabilities into U.S. dollars at the exchange rates in effect as of the balance sheet date. Revenues and expenses are translated into U.S. dollars at the average exchange rates for the period. Translation adjustments are included in accumulated other comprehensive loss, a separate component of equity (deficit). Foreign exchange gains and losses included in net income result from foreign exchange fluctuations on transactions denominated in a currency other than an entity’s functional currency.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. The Company maintains cash balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits of $250,000 for banks located in the U.S. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any rick of loss on its cash bank accounts.
Accounts Receivable and Allowance for Doubtful Accounts	ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable are stated at historical carrying amounts, net of write-offs and allowance for doubtful accounts. Allowance for doubtful accounts represents management’s estimate of the amount that ultimately will be realized in cash. The Company reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical payment trends, the age of receivables and knowledge of the individual customers. When the analysis indicates, management increases or decreases the allowance accordingly. However, if the financial condition of our customers were to deteriorate, additional allowances might be required.
Inventories	INVENTORIES Inventories are stated at the lower of cost or net realizable value and included spare parts and finished goods. Inventories are primarily determined using the specific identification method and the first-in, first-out (“FIFO”) cost method. Cost includes direct cost from the contract manufacturer (“CM”) or original equipment from manufacturer (“OEM”), plus material overhead related to the purchase, inbound freight and import duty costs. The Company continuously reviews its inventory levels to identify slow-moving merchandise and markdowns necessary to clear slow-moving merchandise, which reduces the cost of inventories to its estimated net realizable value. Consideration is given to a number of quantitative and qualitative factors, including current pricing levels and the anticipated need for subsequent markdowns, aging of inventories, historical sales trends, and the impact of market trends and economic conditions. Estimates of markdown requirements may differ from actual results due to changes in quantity, quality and mix of products in inventory, as well as changes in consumer preferences, market and economic conditions.
Property and Equipment	PROPERTY AND EQUIPMENT Property and equipment is stated at cost and depreciated using the straight-line method over the estimated life of the asset. Repairs and maintenance are charged to expense as incurred.
Long - Lived Assets	LONG–LIVED ASSETS Long-lived assets to be held and used or disposed of other than by sale are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When required, impairment losses on assets to be held and used or disposed of other than by sale are recognized based on the fair value of the asset. Long-lived assets to be disposed of by sale are reported at the lower of its carrying amount or fair value less cost to sell.
Intangible Assets	INTANGIBLE ASSETS Intangible assets are amortized using the straight-line method over their estimated period of benefit. We evaluate the recoverability of intangible assets periodically and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. No material impairments of intangible assets have been identified during any of the periods presented. Intangible assets and goodwill are tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist, using a fair-value-based approach. Goodwill is not amortized and is not deductible for tax purposes.
Derivatives	DERIVATIVES The Company classifies Common Stock purchase warrants and other free standing derivative financial instruments as equity if the contracts (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement), or (iii) contain reset provisions as either an asset or a liability. The Company assesses classification of its freestanding derivatives at each reporting date to determine whether a change in classification between equity and liabilities is required. The Company determined that certain warrants to purchase common stock do not satisfy the criteria for classification as equity instruments due to the existence of certain net cash and non-fixed settlement provisions that are not within the sole control of the Company.
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments primarily include cash, accounts receivable, prepayments, derivative liabilities and accounts payable. Due to the short-term nature of cash, receivables, prepayments and accounts payable the carrying amounts of these assets and liabilities approximate their fair value. Derivatives are recorded at fair value at each period end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). As required by Accounting Standard Codification (“ASC”) Topic No. 820 - 10 Fair Value Measurement The following table sets forth, by level within the fair value hierarchy, the Company’s financial liabilities that were accounted for at fair value on a recurring basis as of March 31, 2018: Markets for Identical Assets Other Observable Inputs Significant Unobservable Inputs Carrying Value as of March 31, Description (Level 1) (Level 2) (Level 3) 2018 Derivative liabilities - warrant instruments $ - $ - $ 846,319 $ 846,319 $ 846,319 $ 846,319
Deferred Revenue	DEFERRED REVENUE Deferred revenue represents amounts collected for any extended warranty that is separately priced. The Company recognizes revenue from extended warranty contracts using the straight-line method over the estimated life of the product which is three years.
Revenue Recognition	REVENUE RECOGNITION Revenue is comprised of product sales and service revenue, net of sales returns, co-operative advertising credits, early payment discounts, and special incentive payments (“SPIFF”) paid to the value-added resellers (“VARs”). The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is reasonably assured. Revenue from product sales is derived from the sale of projectors, interactive panels and related accessories. Evidence of an arrangement consists of an order from its distributors, resellers or end users. The Company considers delivery to have occurred once title and risk of loss has been transferred. Service revenue is comprised of product installation services and training services. These service revenues are normally entered into at the time products are sold. Service prices are established depending on product equipment sold and include a cost value for the estimated services to be performed based on historical experience. The Company outsources installation and training services to third parties and recognizes revenue upon completion of the services. The Company evaluates the criteria outlined in FASB ASC Subtopic 605-45, Principal Agent Considerations, in determining whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as revenue. Generally, when the Company is primarily obligated in a transaction, is subject to inventory risk, has latitude in establishing prices and selecting suppliers, or has several but not all of these indicators, revenue is recorded at the gross amount. If the Company is not primarily obligated and amounts earned are determined using a fixed percentage, a fixed-payment schedule, or a combination of the two, the Company generally records the net amounts as revenue earned. The Company’s standard terms and conditions of sale do not allow for product returns and it generally does not allow product returns other than under warranty. However, the Company, on a case by case basis, will grant exceptions, mostly “buyer’s remorse” where the VAR’s end user customer either did not understand what they were ordering, or determined that the product did not meet their needs. An allowance for sales returns is estimated based on an analysis of historical trends. While the Company uses resellers and distributors to sell its products, the Company’s sale agreements do not contain any special pricing incentives, right of return or other post shipment obligations. The Company has warranty policy to provide 12 to 36 months warranty coverage on projectors, displays, accessories, batteries and computers except when sold through a “Premier Education Partner” or sold to schools where the Company provides a 60 month warranty. The Company establishes a liability for estimated product warranty costs at the time product revenue is recognized, if the liability is expected to be material. The warranty obligation is affected by product failure rates and the related use of materials, labor costs and freight incurred in correcting any product failure. Should actual product failure rates, use of materials, or other costs differ from the Company’s estimates, additional warranty liabilities could be required, which would reduce its gross profit. The Company offers sales incentives where the Company offers discounted products delivered by the Company to its resellers and distributors that are redeemable only if the resellers and distributors complete specified cumulative levels of revenue agreed to and written into their reseller and distributor agreements through an executed addendum. The resellers and distributors have to submit a request for the discounted products and cannot redeem additional discounts within 180 days from the date of the discount given on like products. The value of the award products as compared to the value of the transactions necessary to earn the award is generally insignificant in relation to the value of the transactions necessary to earn the award. The Company estimates and records the cost of the products related to the incentive as marketing expense based on analyses of historical data.
Research and Development Expenses	RESEARCH AND DEVELOPMENT EXPENSES Research and development costs are expensed as incurred and consists primarily of personnel related costs, prototype and sample costs, design costs, and global product certifications mostly for wireless certifications.
Income Taxes	INCOME TAXES An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carryforwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized.
Share-Based Compensation	SHARE-BASED COMPENSATION The Company estimates the fair value of each share-based compensation award at the grant date by using the Black-Scholes option pricing model. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest. Excess tax benefits, if any, are recognized as an addition to paid-in capital.
Subsequent Events	SUBSEQUENT EVENTS The Company has evaluated all transactions through the financial statement issuance date for subsequent event disclosure consideration.
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606).” The new guidance provides new criteria for recognizing revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new guidance requires expanded disclosures to provide greater insight into both revenue that has been recognized and revenue that is expected to be recognized in the future from existing contracts. Quantitative and qualitative information will be provided about the significant judgments and changes in those judgments that management made to determine the revenue that is recorded. This accounting standard update, as amended, will be effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. Early adoption is permitted, but no earlier than fiscal 2017. Since the company is an Emerging Growth Company, adoption is not required until 2019. The Company is currently assessing the provisions of the guidance and has not determined the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, a pronouncement was issued by FASB that creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The new standard is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of the new pronouncement on its financial statements. There were various other accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

Organization and Significant 24

Organization and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Derivative Liabilities on Recurring Basis	The following table sets forth, by level within the fair value hierarchy, the Company’s financial liabilities that were accounted for at fair value on a recurring basis as of March 31, 2018: Markets for Identical Assets Other Observable Inputs Significant Unobservable Inputs Carrying Value as of March 31, Description (Level 1) (Level 2) (Level 3) 2018 Derivative liabilities - warrant instruments $ - $ - $ 846,319 $ 846,319 $ 846,319 $ 846,319

Accounts Receivable - Trade (Ta

Accounts Receivable - Trade (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consisted of the following at March 31, 2018 and December 31, 2017: 2018 2017 Accounts receivable - trade $ 3,855,064 $ 3,846,724 Allowance for doubtful accounts (250,306 ) (200,874 ) Allowance for sales returns and volume rebates (521,090 ) (555,918 ) Accounts receivable - trade, net of allowances $ 3,083,668 $ 3,089,932

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following at March 31, 2018 and December 31, 2017: 2018 2017 Finished goods $ 3,691,197 $ 4,611,973 Spare parts 165,821 187,158 Reserves for inventory obsolescence (118,295 ) (172,562 ) Inventories, net $ 3,738,723 $ 4,626,569

Prepaid Expenses and Other Cu27

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following at March 31, 2018 and December 31, 2017: 2018 2017 Prepayments to vendors $ 881,024 $ 295,448 Employee receivables - 6,203 Prepaid local taxes - 1,015 Prepaid and refundable income taxes 1,262 33,435 Prepaid insurance 122,832 - Prepaid licenses and other 222,877 51,905 Prepaid expenses and other current assets $ 1,227,995 $ 388,006

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following at March 31, 2018 and December 31, 2017: Useful lives 2018 2017 Leasehold improvements 9-10 years $ 3,355 $ 3,355 Office equipment 3-5 years 21,341 21,341 Other equipment 5 years 42,485 42,485 Property and equipment, at cost 67,181 67,181 Accumulated depreciation (42,086 ) (37,429 ) Property and equipment, net of accumulated depreciation $ 25,095 $ 29,752

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Intangible assets and goodwill consisted of the following at March 31, 2018 and December 31, 2017: Useful lives 2018 2017 Patents 10 years $ 67,395 $ 67,395 Customer relationships 10 years 3,567,396 3,567,396 Trademarks 10 years 3,554,932 3,554,932 Intangible assets, at cost 7,189,723 7,189,723 Accumulated amortization (1,246,355 ) (1,063,165 ) Intangible assets, net of accumulated amortization $ 5,943,368 $ 6,126,558 Goodwill from acquisition of Mimio N/A $ 44,931 $ 44,931 Goodwill from acquisition of Boxlight N/A 4,137,060 4,137,060 $ 4,181,991 $ 4,181,991

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following is a summary of our debt at March 31, 2018 and December 31, 2017 March 31, 2018 December 31, 2017 Short-term debt – third parties Note payable – AHA 125,000 250,000 Accounts receivable financing – Sallyport Commercial 694,960 502,449 Total short-term debt –third parties 819,960 752,449 Short-term debt – related parties Note payable – Logical Choice Corporation - Delaware 54,000 54,000 Convertible debt – related party Convertible note payable – Mark Elliott 50,000 50,000 Total debt $ 923,960 $ 856,449

Deferred Revenue (Tables)

Deferred Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Deferred Revenue	Deferred revenue consisted of the following as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Balance, beginning of the period $ 1,302,717 $ 767,726 Additions 71,903 1,070,528 Amortization or earned (715,462 ) (535,537 ) Balance, ending of the period 659,158 1,302,717 Deferred revenue – short-term 483,243 1,127,423 Deferred revenue – long-term $ 175,915 $ 175,294

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activities	Following is a summary of the option activities during the three months ended March 31, 2018: Number of Units Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding, December 31, 2017 812,574 $ 3.01 5.64 Granted 927,500 $ 5.10 Exercised (29,200 ) $ 0.0001 Cancelled (4,495 ) $ 7.00 Outstanding, March 31, 2018 1,706,379 $ 4.19 5.10 Exercisable, March 31, 2018 573,955 $ 2.26 5.73
Schedule of Warrant Activity	Following is a summary of the warrants activities during the three months ended March 31, 2018: Number of Units Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding, December 31, 2017 1,070,717 $ 7.57 2.12 Granted 12,000 $ 7.00 1.98 Outstanding, March 31, 2018 1,082,717 $ 7.56 1.88 Exercisable, March 31, 2018 1,032,717 $ 7.56 1.75
Schedule of Stock Compensation Expenses	For the three months ended March 31, 2018 and 2017, the Company recorded the following stock compensation expense: 2018 2017 Stock options $ 496,688 $ 47,165 Warrants 24,226 - Total stock compensation expense $ 520,914 $ 47,165

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments	Future minimum lease payments of the Company’s operating leases with a term over one year subsequent to March 31, 2018 are as follows: Year ending December 31, Amount 2018 $ 197,700 2019 40,400 Net Minimum Lease Payments $ 238,100

Customer and Supplier Concent34

Customer and Supplier Concentration (Tables)	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Schedule of Concentration Risk	The Company’s revenues were concentrated among few customers for the three months ended March 31, 2018: Customer Total revenues from the customer to total revenues for the three months ended March 31, 2018 Accounts receivable (deferred revenue) from the customer as of March 31, 2018 (rounded to 000’s) 1 13 % $ 45,000 2 12 % $ (111,000 ) 3 11 % $ 654,000 The Company’s purchases were concentrated among few vendors for the three months ended March 31, 2018: Vendor Total purchases from the vendor to total purchases for the three months ended March 31, 2018 Accounts payable (prepayment) to the vendor as of March 31, 2018 (rounded to 000’s) 1* 44 % $ 4,611,000 2 29 % $ (7,000 ) * EDI, a related party. See note 13.

Restatement (Tables)

Restatement (Tables)	3 Months Ended
	Mar. 31, 2018
Restatement
Schedule of Consolidated Financial Statements Previously Issued	Following is a summary of the restatement changes made to the consolidated financial statements previously issued as of and for the three months ended March 31, 2018: Originally Reported Restatement As Restated 2018 2018 2018 Consolidated balance sheet: Derivative liabilities $ - $ 846,319 $ 846,319 Additional paid-in capital $ 24,655,946 $ (2,614,795 ) $ 22,041,151 Accumulated deficit $ 14,701,902 $ (1,768,476 ) $ 12,933,426 Consolidated Statement of Operations and Comprehensive Loss: General and administrative $ 3,169,787 $ 24,226 $ 3,194,013 Change in fair value of derivative liabilities $ - $ 1,035,159 $ 1,035,159 Net loss $ 1,915,971 $ (1,010,933 ) $ 905,038 Total comprehensive loss $ 1,911,108 $ (1,010,933 ) $ 900,175 Consolidated Statements of Cash Flows: Net loss $ 1,915,971 $ (1,010,933 ) $ 905,038 Stock compensation $ 496,688 $ 24,226 $ 520,914 Change in fair value of derivative liabilities $ - $ 1,035,159 $ 1,035,159
Schedule of Fair Value Assumption Used	In determining the fair value of the derivative liabilities, the Company used the Black-Scholes option pricing model at March 31, 2018: March 31, 2018 Common stock issuable upon exercise of warrants 1,032,717 Market value of common stock on measurement date $ 4.06 Exercise price $ 7.70 to $7.0 Risk free interest rate(1) 2.27 % Expected life in years 1.76 years Expected volatility (2) 72.36 % Expected dividend yields (3) 0 % (1) The risk-free interest rate was determined by management using the applicable Treasury Bill as of the measurement date. (2) The historical trading volatility was determined by calculating the volatility of the Company’s peers common stock. (3) The Company does not expect to pay a dividend in the foreseeable future.
Schedule of Fair Value of Derivative Liabilities on a Recurring Basis	The following table shows the change in the Company’s derivative liabilities that were accounted for at fair value on a recurring basis as of March 31, 2018: Amount Balance, December 31, 2017 $ 1,857,252 Initial valuation of derivative liabilities upon issuance of warrants 24,226 Change in fair value of derivative liabilities (1,035,159 ) Balance, March 31, 2018 846,319

Organization and Significant 36

Organization and Significant Accounting Policies (Details Narrative)	3 Months Ended
	Mar. 31, 2018USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Federal deposit insurance corporation insured limits (FDIC)	$ 250,000
Warrant term	3 years

Organization and Significant 37

Organization and Significant Accounting Policies - Schedule of Derivative Liabilities on Recurring Basis (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Derivative liabilities - warrant instruments	$ 846,319
Derivative liabilities	846,319	$ 1,857,252
Fair Value, Inputs, Level 1 [Member]
Derivative liabilities - warrant instruments
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Derivative liabilities - warrant instruments
Derivative liabilities
Fair Value, Inputs, Level 3 [Member]
Derivative liabilities - warrant instruments	846,319
Derivative liabilities	$ 846,319

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 12,933,426		$ 12,028,388
Working capital deficit	909,450
Net loss	(905,038)	$ (1,561,350)
Net cash used in operations	$ (2,050,132)	$ (113,374)

Accounts Receivable - Trade - S

Accounts Receivable - Trade - Schedule of Accounts Receivable (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Accounts receivable - trade	$ 3,855,064	$ 3,846,724
Allowance for doubtful accounts	(250,306)	(200,874)
Allowance for sales returns and volume rebates	(521,090)	(555,918)
Accounts receivable - trade, net of allowances	$ 3,083,668	$ 3,089,932

Inventories (Details Narrative)

Inventories (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories write off	$ 0	$ 24,531

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 3,691,197	$ 4,611,973
Spare parts	165,821	187,158
Reserves for inventory obsolescence	(118,295)	(172,562)
Inventories, net	$ 3,738,723	$ 4,626,569

Prepaid Expenses and Other Cu42

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Prepaid expenses and other current assets	$ 1,227,995	$ 388,006
Prepayments to Vendors [Member]
Prepaid expenses and other current assets	881,024	295,448
Employee Receivables [Member]
Prepaid expenses and other current assets		6,203
Prepaid Local Taxes [Member]
Prepaid expenses and other current assets		1,015
Prepaid and Refundable Income Taxes [Member]
Prepaid expenses and other current assets	1,262	33,435
Prepaid Insurance [Member]
Prepaid expenses and other current assets	122,832
Prepaid Licenses and Other [Member]
Prepaid expenses and other current assets	$ 222,877	$ 51,905

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 4,657	$ 15,189

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Property and equipment, at cost	$ 67,181	$ 67,181
Accumulated depreciation	(42,086)	(32,429)
Property and equipment, net of accumulated depreciation	25,095	29,752
Leasehold Improvements [Member]
Property and equipment, at cost	$ 3,355	3,355
Leasehold Improvements [Member] | Minimum [Member]
Useful lives	9 years
Leasehold Improvements [Member] | Maximum [Member]
Useful lives	10 years
Office Equipment [Member]
Property and equipment, at cost	$ 21,341	21,341
Office Equipment [Member] | Minimum [Member]
Useful lives	3 years
Office Equipment [Member] | Maximum [Member]
Useful lives	5 years
Other Equipment [Member]
Useful lives	5 years
Property and equipment, at cost	$ 42,485	$ 42,485

Intangible Assets and Goodwil45

Intangible Assets and Goodwill (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 183,190	$ 177,036

Intangible Assets and Goodwil46

Intangible Assets and Goodwill - Schedule of Intangible Assets and Goodwill (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Intangible assets, at cost	$ 7,189,723	$ 7,189,723
Accumulated amortization	(1,246,355)	(1,063,165)
Intangible assets, net of accumulated amortization	5,943,368	6,126,558
Goodwill	4,181,991	4,181,991
Mimio [Member]
Goodwill	44,931	44,931
Boxlight [Member]
Goodwill	$ 4,137,060	4,137,060
Patents [Member]
Useful lives	10 years
Intangible assets, at cost	$ 67,395	67,395
Customer Relationships [Member]
Useful lives	10 years
Intangible assets, at cost	$ 3,567,396	3,567,396
Trademarks [Member]
Useful lives	10 years
Intangible assets, at cost	$ 3,554,932	$ 3,554,932

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	Nov. 29, 2017	Aug. 15, 2017	Jun. 03, 2016	Jan. 16, 2015	May 21, 2014	Dec. 31, 2017	Nov. 30, 2017	Mar. 31, 2018	Mar. 31, 2017
Gain on settlement								$ 25,738
Auditor fee							$ 67,826
Interest expenses								146,928	$ 169,091
Sallyport Commercial Finance, LLC [Member]
Notes payable								694,960
Accrued interest								0
Interest expenses								144,364
AHA Note [Member]
Proceeds from promissory note			$ 1,895,413
Settle unpaid accounts payable			$ 1,866,418
Debt interest rate percentage			6.50%
Repayment of principal amount						$ 236,926
Notes payable						250,000		125,000
Mark Elliott [Member]
Debt interest rate percentage				10.00%
Notes payable						50,000		50,000
Accrued interest						14,808		16,041
Debt maturity date				Dec. 31, 2018
Convertible notes payable				$ 50,000
Debt default rate				15.00%
Common stock conversion price per share				$ 6.28
Percentage of discount stock price				20.00%
Settlement Agreement [Member] | AHA Note [Member]
Repayment of principal amount	$ 41,667
Notes payable	500,000
Gain on settlement	304,913
Repayment of debt amount	$ 250,000
Line of Credit Agreement [Member] | Sallyport Commercial Finance, LLC [Member]
Purchase of eligible accounts receivable percentage		85.00%
Minimum monthly draw		$ 1,250,000
Line of credit maximum borrowing capacity		6,000,000
Auditor fee		$ 950
Line of Credit Agreement [Member] | Prime Rate [Member] | Sallyport Commercial Finance, LLC [Member] | Maximum [Member]
Accrued interest rate percentage		4.00%
Accrued interest rate		4.25%
Line of Credit Agreement [Member] | Logical Choice Corporation [Member]
Notes payable						54,000		54,000
Line of credit maximum borrowing capacity					$ 500,000
Accrued interest rate percentage					10.00%
Accrued interest						$ 15,916		$ 16,789
Debt maturity date					May 21, 2018

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Total short-term debt -third parties	$ 819,960	$ 752,449
Total short-term debt -related parties	54,000	54,000
Total debt	923,960	856,449
Note Payable - AHA [Member]
Total short-term debt -third parties	125,000	250,000
Accounts Receivable Financing - Sallyport Commercial [Member]
Total short-term debt -third parties	694,960	502,449
Note Payable - Logical Choice Corporation - Delaware [Member]
Total short-term debt -related parties	54,000	54,000
Convertible Note Payable - Mark Elliott [Member]
Total notes payable - related parties	$ 50,000	$ 50,000

Deferred Revenue - Schedule of

Deferred Revenue - Schedule of Deferred Revenue (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Revenue Recognition and Deferred Revenue [Abstract]
Balance, beginning	$ 1,302,717	$ 767,726
Additions	71,903	1,070,528
Amortization or earned	(715,462)	(535,537)
Balance, ending	659,158	1,302,717
Deferred revenue - short-term	483,243	1,127,423
Deferred revenue - long-term	$ 175,915	$ 175,294

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Operating loss carry forward	$ 9,000,000	$ 7,600,000

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Mar. 20, 2018	Jan. 08, 2018	Jan. 31, 2015	Mar. 31, 2018	Dec. 31, 2017
Preferred stock, shares authorized				50,000,000	50,000,000
Preferred stock, par value				$ 0.0001	$ 0.0001
Preferred stock, shares issued				250,000	250,000
Preferred stock designated				48,280,000
Number of options exercised				29,200
K Laser [Member]
Number of shares issued during period		60,000
Number of shares issued during period, value		$ 420,000
Share issued price per share		$ 7
Chief Financial Officer [Member]
Number of options exercised	29,200
Number of options exercised, value	$ 3
Series A Preferred Stock [Member]
Preferred voting shares				250,000 shares of voting
Preferred stock, par value				$ 0.0001
Preferred non voting shares				250,000 shares of non-voting
Series B Preferred Stock [Member]
Preferred voting shares				1,200,000 shares of voting
Preferred stock, par value				$ 0.0001
Preferred stock, shares issued				1,000,000
Number of shares acquire during period				1,000,000
Series C Preferred Stock [Member]
Preferred voting shares				270,000 shares of voting
Preferred stock, par value				$ 0.0001
Number of shares acquire during period				270,000
Class A Common Stock [Member]
Preferred voting shares			150,000,000 shares of Class A voting common stock
Common stock, shares issued				9,648,197	9,558,997
Common stock, shares outstanding				9,648,197	9,558,997
Class B Non Voting Common Stock [Member]
Preferred voting shares			50,000,000 shares of Class B non-voting common stock
Class B Common Stock [Member]
Common stock, shares outstanding

Share-Based Compensation (Detai

Share-Based Compensation (Details Narrative) - USD ($)	Mar. 29, 2018	Mar. 19, 2018	Feb. 14, 2018	Jan. 02, 2018	Mar. 31, 2018	Sep. 19, 2014
Option vested years				1 year
Option expiration term				5 years	2 years 1 month 13 days
Options intrinsic value					$ 1,700,000
Number of stock options granted				100,000	927,500
Option purchase price per share				$ 5.01
Fair value of option				$ 689,000
Unrecognized compensation expense					$ 2,800,000
Remaining Nine Months of 2018 [Member]
Stock compensation expense					$ 1,500,000
Warrant [Member]
Discount rate					1.96%
Expected life					1 year 11 months 23 days
Volatility range					69.00%
Dividend yield					0.00%
Fair value of warrants					$ 24,226
Warrant [Member] | Dynamic Capital LLC [Member]
Share based compensation stock option available for grant					9,000
Warrant [Member] | Canaan Parish LLC [Member]
Share based compensation stock option available for grant					3,000
President [Member]
Number of stock options granted				300,000
Chief Executive Officer [Member]
Number of stock options granted				300,000
Former Chief Financial Officer [Member]
Number of stock options granted				300,000
Chief Operating Officer [Member]
Option vested years				1 year
Option expiration term				5 years
Number of stock options granted				200,000
Option purchase price per share				$ 5.01
Fair value of option				$ 459,000
Employee [Member]
Option vested years			4 years
Option expiration term			5 years
Number of stock options granted			367,500
Option purchase price per share			$ 5.40
Fair value of option			$ 998,000
Chief Financial Officer [Member]
Option vested years		1 year
Option expiration term		5 years
Number of stock options granted		35,000
Option purchase price per share		$ 4
Fair value of option		$ 65,000
Board of Directors [Member]
Option vested years	1 year
Option expiration term	5 years
Number of stock options granted	25,000
Option purchase price per share	$ 4.06
Fair value of option	$ 47,000
Stock Options [Member]
Option vested years					4 years
Option expiration term					5 years
Dividend yield					0.00%
Minimum [Member] | Stock Options [Member]
Discount rate					2.01%
Expected life					3 years
Volatility range					66.00%
Maximum [Member] | Stock Options [Member]
Discount rate					2.45%
Expected life					3 years 9 months
Volatility range					68.00%
2014 Stock Option Plan [Member]
Number of shares reserved for future issuance					684,060
Directors Officers Key Employees Consultants [Member]
Share based compensation stock option available for grant						2,390,438
Borad of Directors [Member] | Minimum [Member]
Share based compensation stock option available for grant					300,000
Borad of Directors [Member] | Maximum [Member]
Share based compensation stock option available for grant					2,690,438

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Stock Option Activities (Details) - $ / shares	Jan. 02, 2018	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares Outstanding, Beginning balance		812,574
Shares, Granted	100,000	927,500
Shares, Exercised		(29,200)
Shares, Cancelled		(4,495)
Shares Outstanding, Ending balance		1,706,379
Shares Exercisable		573,955
Weighted-Average Exercise Price, Outstanding, Beginning		$ 3.01
Weighted-Average Exercise Price, Granted		5.10
Weighted-Average Exercise Price, Exercised		0.0001
Weighted-Average Exercise Price, Cancelled		7
Weighted-Average Exercise Price, Outstanding, Ending		4.19
Weighted-Average Exercise Price, Exercisable		$ 2.26
Weighted-Average Remaining Contractual Terms (in Years), Outstanding Beginning		5 years 7 months 21 days
Weighted-Average Remaining Contractual Terms (in Years), Outstanding Ending		5 years 1 month 6 days
Weighted-Average Remaining Contractual Terms (in Years), Exercisable		5 years 8 months 23 days

Share-Based Compensation - Sc54

Share-Based Compensation - Schedule of Stock Warrant Activities (Details) - $ / shares	Jan. 02, 2018	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Warrant Outstanding, Beginning balance		1,070,717
Warrant Granted		12,000
Warrant Outstanding, ending balance		1,082,717
Warrant Exercisable ending balance		1,032,717
Weighted Average Exercise Price beginning balance		$ 7.57
Weighted Average Exercise Price Granted		7
Weighted Average Exercise Price ending balance		7.56
Weighted Average Exercise Price exercisable ending balance		$ 7.56
Weighted Average Remaining Contractual Term beginning balance	5 years	2 years 1 month 13 days
Weighted Average Remaining Contractual Term		1 year 11 months 23 days
Weighted Average Remaining Contractual Term ending balance		1 year 10 months 17 days
Weighted Average Remaining Contractual Term excercisable ending balance		1 year 9 months

Share-Based Compensation - Sc55

Share-Based Compensation - Schedule of Stock Compensation expenses (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total stock compensation expense	$ 520,914	$ 47,165
Warrant [Member]
Total stock compensation expense	24,226
Stock Options [Member]
Total stock compensation expense	$ 496,688	$ 47,165

Other Related Party Transacti56

Other Related Party Transactions (Details Narrative) - USD ($)	Jan. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Percentage of annual management fee payable in cash	0.375%
Revenues	$ 250,000	$ 5,996,685	$ 4,194,429
Everest Display, Inc [Member]
Payments to acquire products		1,926,324	1,307,918
Proceeds from sale		5,100	$ 0
Accounts payable		4,611,000		$ 4,325,000
Management Agreement [Member]
Accounts payable		$ 94,998		$ 35,632
IPO [Member]
Percentage of annual management fee payable in cash				1.125%
Annual fee for future				$ 750,000
IPO [Member] | December 31, 2018 [Member]
Percentage of annual management fee payable in cash		1.125%
Annual fee for future		$ 750,000

Commitments and Contingencies57

Commitments and Contingencies (Details Narrative) - USD ($)	Jan. 30, 2018	Jun. 01, 2017	Nov. 30, 2017	Apr. 30, 2017	Feb. 29, 2016	Jul. 31, 2015	Mar. 31, 2018	Mar. 31, 2017	Jan. 29, 2018
Commitments and Contingencies Disclosure [Abstract]
Lawsuit against company amount		$ 1,460,508		$ 2,180,881		$ 72,000
Litigation settlement amount					$ 43,000
Increase decrease litigation settlement					70,000
Interest and court costs					$ 2,300
Indebted balance									$ 39,000
Gain from the settlement	$ 26,000
Outstanding debt and accrued interest			$ 1,460,508
Attorney fees			$ 67,826
Rent expense							$ 67,000	$ 98,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details)	Mar. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 197,700
2,019	40,400
Net Minimum Lease Payments	$ 238,100

Customer and Supplier Concent59

Customer and Supplier Concentration (Details Narrative)	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Concentration risk, description	Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases.

Customer and Supplier Concent60

Customer and Supplier Concentration - Schedule of Concentration Risk (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue [Member] | Customer One [Member]
Concentration risk percentage	13.00%
Revenue [Member] | Customer Two [Member]
Concentration risk percentage	12.00%
Revenue [Member] | Customer Three [Member]
Concentration risk percentage	11.00%
Accounts Receivable [Member] | Customer One [Member]
Accounts receivable	$ 45,000
Accounts Receivable [Member] | Customer Two [Member]
Accounts receivable	(111,000)
Accounts Receivable [Member] | Customer Three [Member]
Accounts receivable	$ 654,000
Purchases [Member] | Vendor One [Member]
Concentration risk percentage	44.00%	[1]
Purchases [Member] | Vendor Two [Member]
Concentration risk percentage	29.00%
Accounts Payable [Member] | Vendor One [Member]
Accounts payable	$ 4,611,000	[1]
Accounts Payable [Member] | Vendor Two [Member]
Accounts payable	$ (7,000)
[1]	EDI, a related party. See note 13.

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member]	May 09, 2018GBP (£)shares
Class A Common Stock [Member]
Stock issued during period, acquisition | shares	257,200
Stock issued during period, acquisition, value | £	£ 100
Cohuborate, Ltd [Member]
Acquired ownership percentage	100.00%

Restatement (Details Narrative)

Restatement (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative liabilities	$ 846,319		$ 1,857,252
Additional paid-in capital	22,041,151		21,125,956
Accumulated deficit	(12,933,426)		$ (12,028,388)
General and administrative	3,194,013	$ 2,451,206
Change in fair value of derivative liabilities	1,035,159
DynamicCapitalLLC and Canaan Parish LLC [Member]
Derivative liabilities	846,319
Additional paid-in capital	2,614,795
Accumulated deficit	1,768,476
General and administrative	24,226
Change in fair value of derivative liabilities	$ 1,035,159

Restatement - Schedule of Conso

Restatement - Schedule of Consolidated Financial Statements Previously Issued (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative liabilities	$ 846,319		$ 1,857,252
Additional paid-in capital	22,041,151		21,125,956
Accumulated deficit	(12,933,426)		$ (12,028,388)
General and administrative	3,194,013	$ 2,451,206
Change in fair value of derivative liabilities	1,035,159
Net loss	(905,038)	(1,561,350)
Total comprehensive loss	(900,175)	(1,585,063)
Stock compensation	520,914	$ 47,165
Scenario Previously Reported [Member]
Derivative liabilities
Additional paid-in capital	24,655,946
Accumulated deficit	14,701,902
General and administrative	3,169,787
Change in fair value of derivative liabilities
Net loss	1,915,971
Total comprehensive loss	1,911,108
Stock compensation	496,688
Restatement [Member]
Derivative liabilities	846,319
Additional paid-in capital	(2,614,795)
Accumulated deficit	(1,768,476)
General and administrative	24,226
Change in fair value of derivative liabilities	1,035,159
Net loss	(1,010,933)
Total comprehensive loss	(1,010,933)
Stock compensation	$ 24,226

Restatement - Schedule of Fair

Restatement - Schedule of Fair Value Assumption Used (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Common stock issuable upon exercise of warrants | shares	1,032,717
Market value of common stock on measurement date	$ 4.06
Risk free interest rate	2.27%	[1]
Expected life in years	1 year 9 months 3 days
Expected volatility	72.36%	[2]
Expected dividend yields	0.00%	[3]
Minimum [Member]
Exercise price	$ 7.70
Maximum [Member]
Exercise price	$ 7
[1]	The risk-free interest rate was determined by management using the applicable Treasury Bill as of the measurement date.
[2]	The historical trading volatility was determined by calculating the volatility of the Company's peers common stock.
[3]	The Company does not expect to pay a dividend in the foreseeable future.

Restatement - Schedule of Fai65

Restatement - Schedule of Fair Value of Derivative Liabilities on a Recurring Basis (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Restatement
Derivative liabilities beginning balance	$ 1,857,252
Initial valuation of derivative liabilities upon issuance of warrants	24,226
Change in fair value of derivative liabilities	(1,035,159)
Derivative liabilities ending balance	$ 846,319