Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 10, 2020 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Advanzeon Solutions, Inc. | |
Entity Central Index Key | 0000022872 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2020 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Entity Current Reporting Status | Yes | |
Entity File Number | 1-9927 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Incorporation, State or Country Code | DE | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding | 117,516,838 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
CURRENT ASSETS | ||
Cash | $ 145,915 | $ 69,327 |
Restricted cash | 845,340 | |
Accounts receivable | 40,990 | 29,769 |
Current portion of right of use asset | 136,230 | 113,911 |
Other current assets | 657,025 | 826,597 |
Total current assets | 1,825,500 | 1,039,604 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Property and equipment, net | 5,683 | 1,239 |
Leasehold improvements, net | ||
Total property, plant, and equipment | 5,683 | 1,239 |
RIGHT OF USE ASSET, NET OF CURRENT PORTION | 179,221 | 146,880 |
TOTAL ASSETS | 2,010,404 | 1,187,723 |
CURRENT LIABILITIES | ||
Related party loans payable | 102,229 | 342,670 |
Account payable | 403,265 | 99,441 |
Debt | 10,416,176 | 12,352,189 |
Contingent liability | 642,659 | 642,659 |
Current portion of lease liability | 136,230 | 113,911 |
Other accrued expenses | 13,742,192 | 15,891,787 |
Total current liabilities | 25,442,751 | 29,442,657 |
LEASE LIABILITY, NET OF CURRENT PORTION | 179,221 | 146,880 |
TOTAL LIABILITIES | 25,621,972 | 29,589,537 |
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock, value | ||
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 13,201,582 shares reserved 116,751,439 and 71,661,656 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively | 1,167,514 | 716,617 |
Additional paid in capital | 35,361,980 | 28,719,246 |
Accumulated deficit | (60,141,072) | (57,837,687) |
Total stockholders' deficiency | (23,611,568) | (28,401,814) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | 2,010,404 | 1,187,723 |
Series C Convertible Preferred [Member] | ||
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock, value | 10 | 10 |
Series D Convertible Preferred [Member] | ||
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock, value | ||
Remaining Preferred stock [Member] | ||
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock, value |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, issued | 116,751,439 | 71,661,656 |
Common stock, outstanding | 116,751,439 | 71,661,656 |
Common stock, share reserved | 13,201,582 | |
Series C Convertible Preferred [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 14,400 | 14,400 |
Preferred stock, issued | 10,434 | 10,434 |
Preferred stock, outstanding | 10,434 | 10,434 |
Series D Convertible Preferred [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 7,000 | 7,000 |
Preferred stock, issued | 250 | 250 |
Preferred stock, outstanding | 250 | 250 |
Remaining Preferred stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 978,600 | 978,600 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenues: | ||||
Obstructive sleep apnea (OSA) | $ 103,444 | $ 90,453 | $ 230,992 | $ 158,376 |
Total revenues | 103,444 | 90,453 | 230,992 | 158,376 |
Costs and expenses: | ||||
Costs of revenues | 65,000 | 66,157 | 129,909 | 107,817 |
General and administrative | 715,397 | 416,039 | 1,311,462 | 841,843 |
Depreciation and amortization | 312 | 235 | 623 | 440 |
Total costs and expenses | 780,709 | 482,431 | 1,441,994 | 950,100 |
Loss from operations | (677,265) | (391,978) | (1,211,002) | (791,724) |
Other income (expense): | ||||
Interest expense | (707,774) | (341,178) | (1,102,403) | (669,193) |
Interest income | 5,994 | 20 | 5,994 | |
Legal settlement | 112,172 | 112,172 | ||
Forgivable SBA EIBL loan advance | 10,000 | 10,000 | ||
Total other expense | (697,774) | (223,012) | (1,092,383) | (551,027) |
Net loss | $ (1,375,039) | $ (614,990) | $ (2,303,385) | $ (1,342,751) |
PER SHARE INFORMATION | ||||
Net Loss Per Common Share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.02) |
Weighted Average Number of Common Shares Outstanding | 79,534,495 | 67,361,656 | 75,598,076 | 67,027,954 |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (DEFICIENCY) (Unaudited) - USD ($) | Series C Convertible Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2018 | $ 10 | $ 666,617 | $ 28,012,007 | $ (54,581,873) | $ (25,903,239) |
Balance, shares at Dec. 31, 2018 | 10,434 | 66,661,656 | |||
Stock Issued for Services | $ 2,000 | 14,000 | 16,000 | ||
Stock Issued for Services (in shares) | 200,000 | ||||
Sale of stock | $ 5,000 | 10,000 | 15,000 | ||
Sale of stock, shares | 500,000 | ||||
Net loss | (727,761) | (727,761) | |||
Balance at Mar. 31, 2019 | $ 10 | $ 673,617 | 28,036,007 | (55,309,634) | (26,600,000) |
Balance, shares at Mar. 31, 2019 | 10,434 | 67,361,656 | |||
Stock Issued for Services | |||||
Stock Issued for Services (in shares) | |||||
Sale of stock | |||||
Sale of stock, shares | |||||
Net loss | (614,990) | (614,990) | |||
Balance at Jun. 30, 2019 | $ 10 | $ 673,617 | 28,036,007 | (55,924,624) | (27,214,990) |
Balance, shares at Jun. 30, 2019 | 10,434 | 67,361,656 | |||
Stock Issued for Services | |||||
Stock Issued for Services (in shares) | |||||
Sale of stock | |||||
Sale of stock, shares | |||||
Net loss | (747,801) | (747,801) | |||
Balance at Sep. 30, 2019 | $ 10 | $ 673,617 | 28,036,007 | (56,672,425) | (27,962,791) |
Balance, shares at Sep. 30, 2019 | 10,434 | 67,361,656 | |||
Stock Issued for Services | $ 43,000 | 430,000 | 473,000 | ||
Stock Issued for Services (in shares) | 4,300,000 | ||||
Sale of warrants | 253,239 | 253,239 | |||
Sale of stock | |||||
Net loss | (1,165,262) | (1,165,262) | |||
Balance at Dec. 31, 2019 | $ 10 | $ 716,617 | 28,719,246 | (57,837,687) | (28,401,814) |
Balance, shares at Dec. 31, 2019 | 10,434 | 71,661,656 | |||
Stock Issued for Services | |||||
Stock Issued for Services (in shares) | |||||
Sale of warrants | |||||
Sale of stock | |||||
Sale of stock, shares | |||||
Net loss | (928,346) | (928,346) | |||
Balance at Mar. 31, 2020 | $ 10 | $ 1,167,514 | 35,361,980 | (60,141,072) | (23,611,568) |
Balance, shares at Mar. 31, 2020 | 10,434 | 116,751,439 | |||
Sale of warrants | 18,251 | 18,251 | |||
Sale of stock | $ 450,897 | 6,624,483 | 7,075,380 | ||
Sale of stock, shares | 45,089,783 | ||||
Net loss | (1,375,039) | (1,375,039) | |||
Balance at Jun. 30, 2020 | $ 10 | $ 1,167,514 | $ 35,361,980 | $ (60,141,072) | $ (23,611,568) |
Balance, shares at Jun. 30, 2020 | 10,434 | 116,751,439 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (2,303,385) | $ (1,342,751) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 623 | 440 |
Stock issued for services | 16,000 | |
Amortization of right of use assets | 54,660 | 25,579 |
Net changes in assets and liabilities: | ||
Accounts receivable | (11,221) | (2,756) |
Other current assets | 169,572 | (712,065) |
Payments on lease liabilities | (54,660) | (25,579) |
Accounts payable | 51,383 | 210,951 |
Other accrued expenses | 1,215,572 | 742,356 |
Net cash used in operating activities | (877,456) | (1,087,825) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property, plant, and equipment | (5,067) | (1,549) |
Net cash used in investing activities | (5,067) | (1,549) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from promissory notes | 559,360 | 1,070,250 |
Proceeds from PPP loan | 1,243,840 | |
Payments on debt | (17,000) | |
Sale of stock | 18,251 | 15,000 |
Net cash provided by financing activities | 1,804,451 | 1,085,250 |
Net increase (decrease) in cash | 921,928 | (4,124) |
CASH - Beginning of Year | 69,327 | 25,036 |
CASH AND RESTRICTED CASH - END OF PERIOD | 991,255 | 20,912 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for: Interest | ||
Cash paid during the period for: Income taxes | ||
Recording of right of use assets under lease agreements (ASU 2016-02) | 119,640 | |
Schedule of non-cash investing transactions: | ||
Convertible promissory note and accrued interest converted to common stock | $ 7,075,380 |
Description of The Company's Bu
Description of The Company's Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF THE COMPANY'S BUSINESS AND BASIS OF PRESENTATION | 1. DESCRIPTION OF THE COMPANY’S BUSINESS AND BASIS OF PRESENTATION The consolidated financial statements include the accounts of Advanzeon Solutions, Inc and its wholly owned subsidiary, and its respective subsidiaries (collectively referred to herein as, the “Company” ,“Advanzeon” ,“we”, “us” or “our”). In the opinion of management, the accompanying unaudited financial statements contain all adjustments necessary to present fairly the Company's financial position as of December 31, 2019, the changes therein for the three and six-month periods then ended and the results of operations for the three and six-month periods ended June 30, 2020 and 2019. The financial statements included in the Form 10-Q are presented in accordance with the requirements of the Form and do not include all of the disclosures required by accounting principles general accepted in the United States of America. For additional information, reference is made to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2019, filed April 9, 2020. The results of operations for the three and six-month periods ended June 30, 2020 and 2019 are not necessarily indicative of operating results for the full year. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Established in 1969, Advanzeon Solutions, Inc., (formerly Comprehensive Care Corp.) (“Advanzeon”, “we”, “Parent”, or the “Company”), through its wholly-owned subsidiary Pharmacy Value Management Solutions, Inc., and its wholly-owned subsidiaries during 2015, and partly in 2016, provided managed care services by acting as the administrator for certain administrative service agreements in the behavioral health and substance abuse fields. We primarily offered these services to commercial, Medicare, Medicaid, Children’s Health Insurance Program (“CHIP”) health plans, as well as self-insured companies. Our managed care operations consisted solely of servicing administrative service agreements. Starting in July of 2015, we implemented our comprehensive sleep apnea program, called “SleepMaster Solutions” ™. SleepMaster Solutions (“SMS”) utilizes an administrative system for the convenient identification/testing and therapy of Obstructive Sleep Apnea (“OSA”). We partnered with a national health care provider by initiating a sleep apnea wellness program whereby we screened, tested and when needed, offered treatment programs for treating this disorder. We also contracted with a union to treat its driver members. Beginning in 2017, our only business was our SMS sleep apnea program. The Company has elected to not adopt the option available under United States generally accepted accounting principles (“GAAP”) to measure any eligible financial instruments or other items at fair market value at this time. Accordingly, the Company measures all of its assets and liabilities on the historical cost basis of accounting, except as otherwise required by GAAP. Inter-company accounts and transactions have been eliminated in consolidation. Certain minor reclassifications of prior period amounts have been made to conform to the current period presentation. Use of Estimates Accounts Receivable Revenue Recognition Property and Equipment Leasehold Improvement Fair Value Measurements The carrying amounts of long-term debt and estimated fair values of the attached warrants at June 30, 2020 and December 31, 2019 are as follows: June 30, 2020 December 31, 2019 Estimated Estimated Fair Value of Fair Value of Carrying Attached Carrying Attached Amount Warrants Amount Warrants Convertible promissory notes $ 5,956,533 $ — $ 7,564,173 $ — Short term notes payable 3,215,803 — 4,788,016 — Loan payable related party 102,229 — 342,670 — PPP Loan 1,243,840 — — — $ 10,518,405 $ — $ 12,694,859 $ — During the six-month period ended June 30, 2020, there have been 10 additional convertible notes issued totaling $547,360. During the six-month period ended June 30, 2020, 53 convertible notes totaling $3,727,213 plus accrued interest was converted to stock. Cost of Revenues Right of Use Assets and Lease Liabilities Income Taxes Management has evaluated our tax positions taken or to be taken on income tax returns that remain subject to examination (i.e., tax years 2017 and thereafter federally), and has concluded that there have been no uncertain tax positions (as defined in GAAP) taken that require recognition or disclosure in the consolidated financial statements. In the event of any income tax-related interest or penalties are incurred, they would be included in general and administrative expense. Concentration of Credit Risk Stock Options and Warrants |
Current Assets
Current Assets | 6 Months Ended |
Jun. 30, 2020 | |
Other Current Assets | |
CURRENT ASSETS | 3. CURRENT ASSETS Cash and Restricted Cash Cash and restricted cash consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Cash $ 145,915 $ 69,327 Restricted Cash 845,340 — Total cash and restricted cash shown in the consolidated statement of cash flows $ 991,255 $ 69,327 Other current assets consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Loans to others $ 34,406 $ 42,676 Security and lease deposits 3,500 3,500 Capitalized portion of lease 1,237 1,808 Prepaid expenses 288,487 452,953 Miscellaneous receivable 329,395 325,660 Other current asset $ 657,025 $ 826,597 |
Property and Equipment
Property and Equipment | 6 Months Ended |
Jun. 30, 2020 | |
PROPERTY, PLANT, AND EQUIPMENT | |
PROPERTY AND EQUIPMENT | 4. PROPERTY AND EQUIPMENT Property and equipment, net, consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Property and equipment $ 6,616 $ 1,549 Less accumulated depreciation (933 ) (310 ) Property and equipment - net $ 5,683 $ 1,239 Depreciation expense for the six-month periods ended June 30, 2020 and 2019 is $623 and $141, respectively. A laptop was acquired in January of 2020. |
Leasehold Improvement
Leasehold Improvement | 6 Months Ended |
Jun. 30, 2020 | |
Leases [Abstract] | |
LEASEHOLD IMPROVEMENT | 5. LEASEHOLD IMPROVEMENT Leasehold improvement, net, consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Leasehold improvements $ 2,992 $ 2,992 Less accumulated amortization (2,992 ) (2,992 ) Leasehold improvements - net $ — $ — Amortization expense for the six-month periods ended June 30, 2020 and 2019 is $0 and $299, respectively. |
Related Party Loans Payable
Related Party Loans Payable | 6 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
RELATED PARTY LOANS PAYABLE | 6. RELATED PARTY LOANS PAYABLE The Company has received financing from Management of the Company as well as from members of our Board of Directors. These individuals are deemed to be related parties to the Company and their indebtedness must be disclosed separately. As of June 30, 2020 and December 31, 2019, there are the following related party notes payable: June 30, 2020 December 31, 2019 Related party loans payable $ 102,229 $ 342,670 |
Debt
Debt | 6 Months Ended |
Jun. 30, 2020 | |
Notes Payable [Abstract] | |
Debt | 7. DEBT As of June 30, 2020 and December 31, 2019, the balance was as follows: June 30, 2020 December 31, 2019 Notes payable $ 10,416,176 $ 12,352,189 During the six-month period ended June 30, 2020, there have been 10 additional convertible-promissory notes totaling $547,360. There have been 53 convertible-promissory notes totaling $3,727,213 converted to 39,652,283 shares of common stock. On April 23, 2020, the Company’s wholly owned subsidiary, Pharmacy Value Management Solutions, Inc. (‘PVMS”) received a loan in the principal amount of $1,243,840 from Mechanics Bank (the “Bank”) pursuant to the PPP. On May 22, 2020, the Bank notified PVMS that the loan was in default as a result of false statements made in the loan application. PVMS disputes the Bank’s claim and believes that it made no false statements in its PPP loan application. The statements relate to the number of employees and the monthly payroll amounts. As a result, PVMS’ account with Mechanics Bank has been frozen with a balance of $845,340. Both PVMS and the Bank are seeking guidance from the Small Business Administration as to how to resolve this dispute. Until resolved, it is likely that this account will remain frozen. Break-out of debt between the parent company and our subsidiary PVMS is as follows: June 30, 2020 December 31, 2019 Advanzeon parent $ 3,381,163 $ 5,010,016 PVMS 7,035,013 7,342,173 $ 10,416,176 $ 12,352,189 At Advanzeon, the total notes issued year-to-date and their dollar values were as follows: June 30, 2020 December 31, 2019 Number of notes issued 2 — Dollar value $ 165,360 $ — All debts issued during the six-month period ended June 30, 2020 are short-term in nature and have a stated interest rate of 10%. At PVMS, the total of notes issued year-to-date and their dollar values were as follows: June 30, 2020 December 31, 2019 Number of notes issued 8 51 Dollar value $ 382,000 $ 2,289,250 All debt is short-term in nature, one-year maturity date. All debt issued has a stated interest rate of 12%. |
Contingent Liability
Contingent Liability | 6 Months Ended |
Jun. 30, 2020 | |
Contingent Liability | |
CONTINGENT LIABILITY | 8. CONTINGENT LIABILITY Contingent liability consisted of 3 items: 1. A lawsuit against the Company for $450,000 from the son of a deceased promissory note holder. This matter has been dismissed twice by the judge but is ongoing due to appeals. The case has been dormant over a year. The Court has not dismissed it for lack of prosecution yet. The Court does this on its own motion and because of COVID, it is not doing this at this time. 2. Interest payable in the amount of $171,247 to the same person listed in (1). This interest is related to the lawsuit referenced in (1). 3. Advanzeon won a decision on a court case against Universal Healthcare. The attorney's fees relating to this matter total $21,412. This fee will be paid out of the proceeds of the case when collected. As of June 30, 2020 and December 31, 2019, the balance of this indebtedness is as follows: June 30, 2020 December 31, 2019 Disputed note payable $ 450,000 $ 450,000 Disputed interest payable 171,247 171,247 Pending attorney fees 21,412 21,412 Total contingent liability $ 642,659 $ 642,659 |
Other Accrued Liabilities
Other Accrued Liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Other Accrued Liabilities | |
OTHER ACCRUED LIABILITIES | 9. OTHER ACCRUED LIABILITIES As of June 30, 2020 and December 31, 2019, the balance of other accrued liabilities is as follows: June 30, 2020 December 31, 2019 Management compensation $ 8,907,258 $ 8,873,802 Accrued interest non-related party 4,760,728 5,956,368 Board of Director fees 37,500 1,050,000 State fees — 2,800 Payroll liabilities 14,047 — Other accrued liabilities 22,659 8,817 Total other accrued debt $ 13,742,192 $ 15,891,787 |
Right of Use Assets
Right of Use Assets | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
RIGHT OF USE ASSETS | 10. RIGHT OF USE ASSETS The Company entered into two leases, one for office space and one for an automobile lease that are classified as right of use assets and lease liabilities. The Company pays the lease payments on a residential unit in California that is used as an office/residential unit for certain of its marketing personnel. The lease is on a month-to month basis. The Company has occupied this unit for the past approximately 1-1/2 year period and intends to do so for the foreseeable future. The lease for the Company’s office space expire in June 2022.The lease for the automobile expires in June 2021.As the implicit interest rate is not readily identifiable in the leases, the Company calculated the present value of the leases using the average commercial real estate interest rate of 5.50% at the commencement of the office leases and the interest of 2.99% for the automobile lease. Applying the commercial rate, the Company calculated the present value of $339,833 for the office leases and $29,037 for the automobile leasing that are being amortized over the life of the leases. As of June 30, 2020, the right of use assets associated with future operating leases are as follows: Total present value of right of use assets under lease agreements $ 368,870 Amortization of right of use assets (53,419 ) Total right of use assets as of June 30, 2020 $ 315,451 Total amortization expense related to the right of use assets under the lease agreements was $54,660 and $25,579 for the six-month periods ended June 30, 2020 and 2019, respectively. |
Right of Use Lease Liabilities
Right of Use Lease Liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
RIGHT OF USE LEASE LIABILITIES | 11. RIGHT OF USE LEASE LIABILITIES As disclosed in Note 10, the Company entered into two leases for office space prior to the quarter ended June 30, 2020 that are classified as right of use assets and lease liabilities. As of June 30, 2020, the lease liabilities associated with future payments due under the leases are as follows: Total present value of future lease payments $ 368,870 Principal payments made as of the six month period ended June 30, 2020 (53,419 ) Total right of use lease liabilities as of June 30, 2020 $ 315,451 The following is a schedule of future minimum lease payments under the right of use lease agreements together with the present value of the net minimum lease payments as of June 30, 2020: Total future minimum lease payments $ 336,671 Less present value discount 21,220 Total right of use lease liabilities as of June 30, 2020 315,451 Less current portion due within one year 136,230 Long-term right of use liabilities $ 179,221 Total maturities of lease liabilities as of June 30, 2020 are as follows: Total future minimum lease Present value Right of use payments discount lease liabilities 2021 $ 150,103 $ 13,873 $ 136,230 2022 146,568 6,358 140,210 2023 40,000 989 39,011 $ 336,671 $ 21,220 $ 315,451 |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2020 | |
Common Stock Abstract | |
COMMON STOCK | 12. COMMON STOCK During the six-month period ended June 30, 2020, the Company issued 45,089,783 shares of its common stock as follows: On April 01, 2020, the Company issued 3,262,500 shares of its common stock to a board of director member who elected to convert director’s fees and salary totaling $652,500. The stock was issued at $0.20 per share. On April 01, 2020, the Company issued 1,087,500 shares of its common stock to a board of director member who elected to convert director’s fees and salary totaling $217,500. The stock was issued at $0.20 per share. On April 01, 2020, the Company issued 1,087,500 shares of its common stock to a board of director member who elected to convert director’s fees and salary totaling $217,500. The stock was issued at $0.20 per share. On April 21, 2020, the Company issued 14,584,350 shares of its common stock to existing note holders who elected to convert promissory notes plus accrued and unpaid interest totaling $2,916,869. The stock was issued at $0.20 per share. On April 21, 2020, the Company issued 1,327,252 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $265,450. The stock was issued at $0.20 per share. On April 21, 2020, the Company issued 2,156,515 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $431,303. The stock was issued at $0.20 per share. On May 15, 2020, the Company issued 1,263,745 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $139,012. The stock was issued at $0.11 per share. On May 15, 2020, the Company issued 4,284,565 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $471,302. The stock was issued at $0.11 per share. On May 15, 2020, the Company issued 7,210,168 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $793,118. The stock was issued at $0.11 per share. On May 18, 2020, the Company issued 700,751 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $77,083. The stock was issued at $0.11 per share. On May 21, 2020, the Company issued 502,434 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $55,268. The stock was issued at $0.11 per share. On May 25, 2020, the Company issued 319,627 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $35,159. The stock was issued at $0.11 per share. On May 25, 2020, the Company issued 333,824 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $36,721. The stock was issued at $0.11 per share. On May 26, 2020, the Company issued 781,206 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $85,933. The stock was issued at $0.11 per share. On May 28, 2020, the Company issued 884,555 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $97,301. The stock was issued at $0.11 per share. On May 29, 2020, the Company issued 937,116 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $103,083. The stock was issued at $0.11 per share. On June 1, 2020, the Company issued 1,024,189 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $112,661. The stocks was issued at $0.11 per share. On June 05, 2020, the Company issued 668,797 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $73,568. The stock was issued at $0.11 per share. On June 05, 2020, the Company issued 603,987 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $66,439. The stock was issued at $0.11 per share. On June 12, 2020, the Company issued 1,564,245 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $172,067. The stock was issued at $0.11 per share. On June 18, 2020, the Company issued 504,957 shares of its common stock to an existing note holder who elected to convert promissory notes plus accrued and unpaid interest totaling $55,545. The stock was issued at $0.11 per share. During the six-month period ended June 30, 2019, the Company issued 700,000 shares of its common stock as follows: On March 21, 2019, the Company issued 200,000 shares of its common stock to its Securities Exchange Commission counsel, who elected to take common stock in the Company as partial payment of its legal fees. The total value shares were valued at $0.08 per share on the total value of $16,000. Additionally, on March 29, 2019, the Company issued 500,000 shares of its common stock to an existing shareholder and warrant holder, who elected to exercise his warrants to purchase 500,000 shares of the Company's common stock for $15,000. The warrants were issued during May of 2017 for $0.03 per share. |
Legal Proceedings
Legal Proceedings | 6 Months Ended |
Jun. 30, 2020 | |
Legal Proceedings | |
LEGAL PROCEEDINGS | 13. LEGAL PROCEEDINGS The Company previously reported that the litigation between Rotech Healthcare, Inc. and Pharmacy Value Management Solutions, Inc. settled. The Company rejected the draft settlement terms and continues to aggressively defend this litigation. Except as disclosed above and in Item 1, all of the legal proceedings for the six-month period ended June 30, 2020, are disclosed in our annual report on Form10-K filed on April 9, 2020. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 14. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, the Company evaluated subsequent events through August 19, 2020, the date these financial statements were available to be issued. During its evaluation, the following subsequent events were identified: Issuance of debt and warrants Subsequent to the balance sheet date, the Company has issued $56,180 of convertible-promissory notes. All of the debt matures in 2021 and has a stated interest rate of 22% and is unsecured. Concurrent with the issuance of debt, the Company has issued 300,000 warrants at an average exercise price of $0.25. At the time of issuance, all warrants had a three or five year term. Stock issued for conversion of debt and accrued interest The Company issued 765,399 shares of common stock for the conversion of debt and accrued interest. The total debt and accrued interest converted was $84,194 or $0.11 per share. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
Accounts Receivable | Accounts Receivable |
Revenue recognition | Revenue Recognition |
Property and Equipment | Property and Equipment |
Leasehold Improvement | Leasehold Improvement |
Fair Value Measurements | Fair Value Measurements The carrying amounts of long-term debt and estimated fair values of the attached warrants at June 30, 2020 and December 31, 2019 are as follows: June 30, 2020 December 31, 2019 Estimated Estimated Fair Value of Fair Value of Carrying Attached Carrying Attached Amount Warrants Amount Warrants Convertible promissory notes $ 5,956,533 $ — $ 7,564,173 $ — Short term notes payable 3,215,803 — 4,788,016 — Loan payable related party 102,229 — 342,670 — PPP Loan 1,243,840 — — — $ 10,518,405 $ — $ 12,694,859 $ — During the six-month period ended June 30, 2020, there have been 10 additional convertible notes issued totaling $547,360. During the six-month period ended June 30, 2020, 53 convertible notes totaling $3,727,213 plus accrued interest was converted to stock. Cost of Revenues |
Cost of Revenues | Cost of Revenues |
Right of Use Assets and Lease Liabilities | Right of Use Assets and Lease Liabilities |
Income Taxes | Income Taxes Management has evaluated our tax positions taken or to be taken on income tax returns that remain subject to examination (i.e., tax years 2017 and thereafter federally), and has concluded that there have been no uncertain tax positions (as defined in GAAP) taken that require recognition or disclosure in the consolidated financial statements. In the event of any income tax-related interest or penalties are incurred, they would be included in general and administrative expense. |
Concentration of Credit Risk | Concentration of Credit Risk |
Stock Options and Warrants | Stock Options and Warrants |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Schedule of carrying and estimated fair values of financial instruments | The carrying amounts of long-term debt and estimated fair values of the attached warrants at June 30, 2020 and December 31, 2019 are as follows: June 30, 2020 December 31, 2019 Estimated Estimated Fair Value of Fair Value of Carrying Attached Carrying Attached Amount Warrants Amount Warrants Convertible promissory notes $ 5,956,533 $ — $ 7,564,173 $ — Short term notes payable 3,215,803 — 4,788,016 — Loan payable related party 102,229 — 342,670 — PPP Loan 1,243,840 — — — $ 10,518,405 $ — $ 12,694,859 $ — |
Current Assets (Tables)
Current Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other Current Assets | |
Schedule of Cash and restricted cash | Cash and restricted cash consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Cash $ 145,915 $ 69,327 Restricted Cash 845,340 — Total cash and restricted cash shown in the consolidated statement of cash flows $ 991,255 $ 69,327 |
Schedule of other current assets | Other current assets consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Loans to others $ 34,406 $ 42,676 Security and lease deposits 3,500 3,500 Capitalized portion of lease 1,237 1,808 Prepaid expenses 288,487 452,953 Miscellaneous receivable 329,395 325,660 Other current asset $ 657,025 $ 826,597 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
PROPERTY, PLANT, AND EQUIPMENT | |
Schedule of property and equipment, net | Property and equipment, net, consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Property and equipment $ 6,616 $ 1,549 Less accumulated depreciation (933 ) (310 ) Property and equipment - net $ 5,683 $ 1,239 |
Leasehold Improvement (Tables)
Leasehold Improvement (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Leases [Abstract] | |
Schedule of leasehold improvement, net | Leasehold improvement, net, consists of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Leasehold improvements $ 2,992 $ 2,992 Less accumulated amortization (2,992 ) (2,992 ) Leasehold improvements - net $ — $ — |
Related Party Loans Payable (Ta
Related Party Loans Payable (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of related party notes payable | As of June 30, 2020 and December 31, 2019, there are the following related party notes payable: June 30, 2020 December 31, 2019 Related party loans payable $ 102,229 $ 342,670 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Schedule of notes payable | As of June 30, 2020 and December 31, 2019, the balance was as follows: June 30, 2020 December 31, 2019 Notes payable $ 10,416,176 $ 12,352,189 |
Schedule of break-out of debt | Break-out of debt between the parent company and our subsidiary PVMS is as follows: June 30, 2020 December 31, 2019 Advanzeon parent $ 3,381,163 $ 5,010,016 PVMS 7,035,013 7,342,173 $ 10,416,176 $ 12,352,189 |
Advanzeon Parent [Member] | |
Schedule of notes issued | At Advanzeon, the total notes issued year-to-date and their dollar values were as follows: June 30, 2020 December 31, 2019 Number of notes issued 2 — Dollar value $ 165,360 $ — |
Pharmacy Value Management Solutions Inc.[Member] | |
Schedule of notes issued | At PVMS, the total of notes issued year-to-date and their dollar values were as follows: June 30, 2020 December 31, 2019 Number of notes issued 8 51 Dollar value $ 382,000 $ 2,289,250 |
Contingent Liability (Tables)
Contingent Liability (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Contingent Liability | |
Schedule of contingent liability | As of June 30, 2020 and December 31, 2019, the balance of this indebtedness is as follows: June 30, 2020 December 31, 2019 Disputed note payable $ 450,000 $ 450,000 Disputed interest payable 171,247 171,247 Pending attorney fees 21,412 21,412 Total contingent liability $ 642,659 $ 642,659 |
Other Accrued Liabilities (Tabl
Other Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other Accrued Liabilities | |
Schedule of other accrued liabilities | As of June 30, 2020 and December 31, 2019, the balance of other accrued liabilities is as follows: June 30, 2020 December 31, 2019 Management compensation $ 8,907,258 $ 8,873,802 Accrued interest non-related party 4,760,728 5,956,368 Board of Director fees 37,500 1,050,000 State fees — 2,800 Payroll liabilities 14,047 — Other accrued liabilities 22,659 8,817 Total other accrued debt $ 13,742,192 $ 15,891,787 |
Right of Use Assets (Tables)
Right of Use Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Schedule of right of use assets associated with future operating leases | As of June 30, 2020, the right of use assets associated with future operating leases are as follows: Total present value of right of use assets under lease agreements $ 368,870 Amortization of right of use assets (53,419 ) Total right of use assets as of June 30, 2020 $ 315,451 |
Right of Use Lease Liabilities
Right of Use Lease Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Schedule of lease liabilities associated with future payments due under the leases | As of June 30, 2020, the lease liabilities associated with future payments due under the leases are as follows: Total present value of future lease payments $ 368,870 Principal payments made as of the six month period ended June 30, 2020 (53,419 ) Total right of use lease liabilities as of June 30, 2020 $ 315,451 |
Schedule of future minimum lease payments under the right of use lease agreements | The following is a schedule of future minimum lease payments under the right of use lease agreements together with the present value of the net minimum lease payments as of June 30, 2020: Total future minimum lease payments $ 336,671 Less present value discount 21,220 Total right of use lease liabilities as of June 30, 2020 315,451 Less current portion due within one year 136,230 Long-term right of use liabilities $ 179,221 |
Schedule of maturities of lease liabilities | Total maturities of lease liabilities as of June 30, 2020 are as follows: Total future minimum lease Present value Right of use payments discount lease liabilities 2021 $ 150,103 $ 13,873 $ 136,230 2022 146,568 6,358 140,210 2023 40,000 989 39,011 $ 336,671 $ 21,220 $ 315,451 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Schedule of carrying and estimated fair values of financial instruments | ||
Carrying Amount | $ 10,518,405 | $ 12,694,859 |
Estimated Fair Value of Attached Warrants | ||
Convertible Promissory Notes [Member] | ||
Schedule of carrying and estimated fair values of financial instruments | ||
Carrying Amount | 5,956,533 | 7,564,173 |
Estimated Fair Value of Attached Warrants | ||
Short Term Notes Payable [Member] | ||
Schedule of carrying and estimated fair values of financial instruments | ||
Carrying Amount | 3,215,803 | 4,788,016 |
Estimated Fair Value of Attached Warrants | ||
Loans Payable Related Party [Member] | ||
Schedule of carrying and estimated fair values of financial instruments | ||
Carrying Amount | 102,229 | 342,670 |
Estimated Fair Value of Attached Warrants | ||
PPP Loan [Member] | ||
Schedule of carrying and estimated fair values of financial instruments | ||
Carrying Amount | 1,243,840 | |
Estimated Fair Value of Attached Warrants |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details Narrative) | 6 Months Ended | |
Jun. 30, 2020USD ($)Number | Dec. 31, 2019USD ($) | |
Convertible notes | $ 547,360 | |
Convertible notes plus accured interest | 3,727,213 | |
Amount insured by FDIC | 250,000 | |
Uninsured cash balance | $ 595,340 | $ 0 |
Short Term One Note [Member] | ||
Number of additional notes | Number | 10 | |
Number of convertible notes | Number | 53 | |
Property and equipment [Member] | Minimum [Member] | ||
Useful Life | 2 years | |
Property and equipment [Member] | Maximum [Member] | ||
Useful Life | 12 years |
Current Assets (Details)
Current Assets (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Current Assets | ||||
Cash | $ 145,915 | $ 69,327 | ||
Restricted Cash | 845,340 | |||
Total cash and restricted cash shown in the consolidated statement of cash flows | $ 991,255 | $ 69,327 | $ 20,912 | $ 25,036 |
Current Assets (Details 1)
Current Assets (Details 1) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Other Current Assets | ||
Loans to others | $ 34,406 | $ 42,676 |
Security deposit | 3,500 | 3,500 |
Capitalized portion of lease | 1,237 | 1,808 |
Prepaid expenses | 288,487 | 452,953 |
Miscellaneous receivable | 329,395 | 325,660 |
Other current asset | $ 657,025 | $ 826,597 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Property and equipment | $ 6,616 | $ 1,549 |
Less accumulated depreciation | (933) | (310) |
Property and equipment - net | $ 5,683 | $ 1,239 |
Property and Equipment (Detai_2
Property and Equipment (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
PROPERTY, PLANT, AND EQUIPMENT | ||
Depreciation expense | $ 623 | $ 141 |
Leasehold Improvement (Details)
Leasehold Improvement (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Leasehold improvement | ||
Leasehold Improvements [Member] | ||
Leasehold improvement | 2,992 | 2,992 |
Less accumulated amortization | (2,992) | (2,992) |
Leasehold improvement - net |
Leasehold Improvement (Details
Leasehold Improvement (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Leases [Abstract] | ||
Amortization expense | $ 0 | $ 299 |
Related Party Loans Payable (De
Related Party Loans Payable (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Related Party Transactions [Abstract] | ||
Related party loans payable | $ 102,229 | $ 342,670 |
Debt (Details)
Debt (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Notes Payable [Abstract] | ||
Notes payable | $ 10,416,176 | $ 12,352,189 |
Debt (Details 1)
Debt (Details 1) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Notes payable | $ 10,416,176 | $ 12,352,189 |
Advanzeon Parent [Member] | ||
Notes payable | 3,381,163 | 5,010,016 |
Pharmacy Value Management Solutions Inc.[Member] | ||
Notes payable | $ 7,035,013 | $ 7,342,173 |
Debt (Details 2)
Debt (Details 2) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Advanzeon Parent [Member] | ||
Number of notes issued | 2 | |
Dollar value | $ 165,360 | |
Pharmacy Value Management Solutions Inc.[Member] | ||
Number of notes issued | 8 | 51 |
Dollar value | $ 382,000 | $ 2,289,250 |
Debt (Details Narrative)
Debt (Details Narrative) | 6 Months Ended |
Jun. 30, 2020USD ($)Numbershares | |
Maturity date | One-year |
Description of interest rate | All debt issued has a stated interest rate of 12% |
Stated interest rate | 10.00% |
Convertible notes plus accured interest | $ 3,727,213 |
Notes converted in shares | shares | 39,652,283 |
Pharmacy Value Management Solutions Inc.[Member] | Mechanics Bank [Member] | |
Frozen account balance | $ 845,340 |
Short Term One Note [Member] | |
Stated interest rate | 12.00% |
Number of additional notes | Number | 10 |
Debt converted into stock | $ 547,360 |
Number of convertible notes | Number | 53 |
PPP Loan [Member] | Pharmacy Value Management Solutions Inc.[Member] | Mechanics Bank [Member] | |
Loan received | $ 1,243,840 |
Contingent Liability (Details)
Contingent Liability (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Contingent Liability | ||
Disputed note payable | $ 450,000 | $ 450,000 |
Disputed interest payable | 171,247 | 171,247 |
Pending attorney fees | 21,412 | 21,412 |
Total contingent liability | $ 642,659 | $ 642,659 |
Contingent Liability (Details N
Contingent Liability (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Disputed interest payable | $ 171,247 | $ 171,247 |
Attorney fees | 21,412 | $ 21,412 |
Son of Former Note Holder [Member] | ||
Contingent liability | 450,000 | |
Disputed interest payable | 171,247 | |
Attorney fees | $ 21,412 |
Other Accrued Liabilities (Deta
Other Accrued Liabilities (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Other Accrued Liabilities | ||
Management compensation | $ 8,907,258 | $ 8,873,802 |
Accrued interest non-related party | 4,760,728 | 5,956,368 |
Board of Director fees | 37,500 | 1,050,000 |
State fees | 2,800 | |
Payroll liabilities | 14,047 | |
Accrued wages and related | 22,659 | 8,817 |
Total other accrued debt | $ 13,742,192 | $ 15,891,787 |
Right of Use Assets (Details)
Right of Use Assets (Details) | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Right Of Use Assets | |
Total present value of right of use assets under lease agreements | $ 368,870 |
Amortization of right of use assets | (53,419) |
Total right of use assets | $ 315,451 |
Right of Use Assets (Details Na
Right of Use Assets (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Lease, description | The Company entered into two leases, one for office space and one automobile lease that are classified as right of use assets and lease liabilities. The Company pays the lease payments on a residential unit in California that is used as an office/residential unit for certain of its marketing personnel. The lease is on a month-to month basis. The Company has occupied this unit for the past approximately 1-1/2 year period and intends to do so for the foreseeable future. The lease for the Company’s office space expire in June 2022.The lease for the automobile expires in June 2021.As the implicit interest rate is not readily identifiable in the leases, the Company calculated the present value of the leases using the average commercial real estate interest rate of 5.50% at the commencement of the office leases and the interest of 2.99% for the automobile lease. Applying the commercial rate, the Company calculated the present value of $339,833 for the office leases and $29,037 for the automobile leasing that are being amortized over the life of the leases. | |
Total amortization expenses | $ 54,660 | $ 25,579 |
Automobiles [Member] | ||
Present value of lease | $ 29,037 | |
Interest rate | 2.99% | |
Office [Member] | ||
Present value of lease | $ 339,833 | |
Interest rate | 5.50% |
Right of Use Lease Liabilitie_2
Right of Use Lease Liabilities (Details) | Jun. 30, 2020USD ($) |
Right Of Use Lease Liabilities | |
Total present value of future lease payments | $ 368,870 |
Principal payments made | (53,419) |
Total right of use lease liabilities | $ 315,451 |
Right of Use Lease Liabilitie_3
Right of Use Lease Liabilities (Details 1) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Right Of Use Lease Liabilities | ||
Total future minimum lease payments | $ 336,671 | |
Less present value discount | 21,220 | |
Total right of use lease liabilities | 315,451 | |
Less current portion due within one year | 136,230 | $ 113,911 |
Long-term right of use liabilities | $ 179,221 | $ 146,880 |
Right of Use Lease Liabilitie_4
Right of Use Lease Liabilities (Details 2) | Jun. 30, 2020USD ($) |
Total future minimum lease payments | $ 336,671 |
Present value discount | 21,220 |
Right of use lease liabilities | 315,451 |
2021 [Member] | |
Total future minimum lease payments | 150,103 |
Present value discount | 13,873 |
Right of use lease liabilities | 136,230 |
2022 [Member] | |
Total future minimum lease payments | 146,568 |
Present value discount | 6,358 |
Right of use lease liabilities | 140,210 |
2023 [Member] | |
Total future minimum lease payments | 40,000 |
Present value discount | 989 |
Right of use lease liabilities | $ 39,011 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | Jun. 12, 2020 | Jun. 05, 2020 | Jun. 01, 2020 | May 15, 2020 | Apr. 02, 2020 | Jun. 18, 2020 | May 29, 2020 | May 28, 2020 | May 26, 2020 | May 25, 2020 | May 21, 2020 | May 18, 2020 | Apr. 21, 2020 | Mar. 29, 2019 | Mar. 21, 2019 | Jun. 30, 2019 |
Board Of Director | ||||||||||||||||
Share price | $ 0.20 | |||||||||||||||
Stock issued for services, Shares | 3,262,500 | |||||||||||||||
Stock issued for services, value | $ 652,500 | |||||||||||||||
Board Of Director | ||||||||||||||||
Share price | $ 0.20 | |||||||||||||||
Stock issued for services, Shares | 1,087,500 | |||||||||||||||
Stock issued for services, value | $ 217,500 | |||||||||||||||
Board Of Director | ||||||||||||||||
Share price | $ 0.20 | |||||||||||||||
Stock issued for services, Shares | 1,087,500 | |||||||||||||||
Stock issued for services, value | $ 217,500 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.20 | |||||||||||||||
Stock issued for debt conversion, Shares | 14,584,350 | |||||||||||||||
Stock issued for debt conversion, Value | $ 2,916,869 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.20 | |||||||||||||||
Stock issued for debt conversion, Shares | 1,327,252 | |||||||||||||||
Stock issued for debt conversion, Value | $ 265,450 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.20 | |||||||||||||||
Stock issued for debt conversion, Shares | 2,156,515 | |||||||||||||||
Stock issued for debt conversion, Value | $ 431,303 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 1,263,745 | |||||||||||||||
Stock issued for debt conversion, Value | $ 139,012 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 4,284,565 | |||||||||||||||
Stock issued for debt conversion, Value | $ 471,302 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 7,210,168 | |||||||||||||||
Stock issued for debt conversion, Value | $ 793,118 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 700,751 | |||||||||||||||
Stock issued for debt conversion, Value | $ 77,083 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 502,434 | |||||||||||||||
Stock issued for debt conversion, Value | $ 55,268 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 319,627 | |||||||||||||||
Stock issued for debt conversion, Value | $ 35,159 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 333,824 | |||||||||||||||
Stock issued for debt conversion, Value | $ 36,721 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 781,206 | |||||||||||||||
Stock issued for debt conversion, Value | $ 85,933 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 884,555 | |||||||||||||||
Stock issued for debt conversion, Value | $ 97,301 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 937,116 | |||||||||||||||
Stock issued for debt conversion, Value | $ 103,083 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 1,024,189 | |||||||||||||||
Stock issued for debt conversion, Value | $ 112,661 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 668,797 | |||||||||||||||
Stock issued for debt conversion, Value | $ 73,568 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 603,987 | |||||||||||||||
Stock issued for debt conversion, Value | $ 66,439 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 1,564,245 | |||||||||||||||
Stock issued for debt conversion, Value | $ 172,067 | |||||||||||||||
Existing note holders [Member] | ||||||||||||||||
Share price | $ 0.11 | |||||||||||||||
Stock issued for debt conversion, Shares | 504,957 | |||||||||||||||
Stock issued for debt conversion, Value | $ 55,545 | |||||||||||||||
Common Stock | ||||||||||||||||
Number of shares issued | 500,000 | 200,000 | 700,000 | |||||||||||||
Share price | $ 0.08 | |||||||||||||||
Stock issued for partial payment of legal fees, value | $ 16,000 | |||||||||||||||
Warrants to purchase shares | 500,000 | |||||||||||||||
Value of common stock issued | $ 15,000 | |||||||||||||||
Warrants issued price | $ 0.03 | |||||||||||||||
Stock issued for services, Shares | 200,000 | |||||||||||||||
Stock issued for services, value | $ 2,000 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended |
Jul. 30, 2020 | Jun. 30, 2020 | |
Interest rate | 10.00% | |
Conversion of Stock, Amount Converted | 39,652,283 | |
Subsequent Event [Member] | ||
Interest rate | 11.00% | |
Conversion of Stock, Amount Converted | 84,194 | |
Conversion of Stock, shares issued | 765,399 | |
Subsequent Event [Member] | Warrant [Member] | ||
Number of warrant issued | 300,000 | |
Exercise price of warrants (in dollars per share) | $ 0.25 | |
Subsequent Event [Member] | Convertible-promissory notes [Member] | ||
Face amount | $ 56,180 | |
Interest rate | 22.00% |