NextTrip (NTRP) 10-Q 23 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 22, 2020
Document And Entity Information
Entity Registrant Name	SIGMA LABS, INC.
Entity Central Index Key	0000788611
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,926,362
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash	$ 2,445,766	$ 86,919
Accounts Receivable, net	286,405	55,540
Inventory	585,640	598,718
Prepaid Assets	118,031	199,727
Total Current Assets	3,435,842	940,904
Other Assets:
Property and Equipment, net	117,006	128,723
Intangible Assets, net	644,286	569,341
Investment in Joint Venture		500
Long-Term Prepaid Asset	52,000	52,000
Total Other Assets	813,292	750,564
TOTAL ASSETS	4,249,134	1,691,468
Current Liabilities:
Accounts Payable	295,220	727,114
Notes Payable		50,000
Deferred Revenue	99,588	139,447
Accrued Expenses	272,442	122,658
Total Current Liabilities	667,250	1,039,219
Long-Term Liabilities:
CARES Act Deferred Payroll Tax Liability	22,072
Total Long-Term Liabilities	22,072
TOTAL LIABILITIES	689,322	1,039,219
Stockholders' Equity
Preferred Stock, $0.001 par; 10,000,000 shares authorized; 333 and 0 issued and outstanding, respectively	1
Common Stock, $0.001 par; 12,000,000 shares authorized; 3,926,362 and 1,403,759 issued and outstanding, respectively	3,926	1,404
Additional Paid-In Capital	33,151,829	26,746,439
Accumulated Deficit	(29,595,944)	(26,095,594)
Total Stockholders' Equity	3,559,812	652,249
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 4,249,134	$ 1,691,468

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	333	0
Preferred stock, shares outstanding	333	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	12,000,000	12,000,000
Common stock, shares issued	3,926,362	1,403,759
Common stock, shares outstanding	3,926,362	1,403,759

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
REVENUES	$ 167,688	$ 33,582	$ 389,418	$ 98,032
COST OF REVENUE	57,684	60,625	302,387	157,180
GROSS PROFIT (LOSS)	110,004	(27,043)	87,031	(59,148)
OPERATING EXPENSES:
Salaries & Benefits	605,295	581,356	1,257,492	1,093,916
Stock-Based Compensation	270,818	220,360	424,989	474,566
Operating R&D Costs	111,647	118,845	165,335	264,117
Investor & Public Relations	171,287	157,318	409,555	315,107
Legal & Professional Service Fees	219,007	218,919	430,515	403,489
Office Expenses	78,843	184,068	226,590	350,178
Depreciation & Amortization	17,970	49,203	35,983	97,586
Other Operating Expenses	51,687	38,994	135,736	77,203
Total Operating Expenses	1,526,554	1,569,064	3,086,195	3,076,162
LOSS FROM OPERATIONS	(1,416,550)	(1,596,107)	(2,999,164)	(3,135,310)
OTHER INCOME (EXPENSE)
Interest Income	31	7,016	882	12,798
State Incentives	151,657		151,657	51,877
Exchange Rate Gain (Loss)	(31)	(2,264)	(1,422)	(2,710)
Interest Expense	(6,244)	(2,136)	(6,675)	(4,258)
Loss on Dissolution of Joint Venture	(201)		(201)
Other Income	361,700		361,700
Total Other Income (Expense)	506,912	2,616	505,941	57,707
LOSS BEFORE PROVISION FOR INCOME TAXES	(909,638)	(1,593,491)	(2,493,223)	(3,077,603)
Provision for income Taxes
Net Loss	(909,638)	(1,593,491)	(2,493,223)	(3,077,603)
Preferred Dividends	(691,880)		(1,007,127)
Net Loss Applicable to Common Stockholders	$ (1,601,518)	$ (1,593,491)	$ (3,500,350)	$ (3,077,603)
Net Loss per Common Share - Basic and Diluted	$ (0.49)	$ (1.5)	$ (1.48)	$ (3.1)
Weighted Average Number of Shares Outstanding - Basic and Diluted	3,256,098	1,077,759	2,359,862	1,006,381

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
Net Loss	$ (2,493,223)	$ (3,077,603)
Noncash Expenses:
Depreciation and Amortization	35,983	97,586
Stock Based Compensation	424,989	474,566
Securities Issued for Third Party Services	54,924
Change in assets and liabilities:
Accounts Receivable	(230,865)	818
Interest Receivable		27,038
Inventory	13,078	(330,340)
Prepaid Assets	81,695	(1,463)
Accounts Payable	(431,893)	150,567
Deferred Revenue	(39,860)	27,275
Accrued Expenses	149,785	(105,678)
NET CASH USED IN OPERATING ACTIVITIES	(2,435,387)	(2,737,650)
INVESTING ACTIVITIES
Purchase of Property and Equipment	(11,474)	(23,796)
Purchase of Intangible Assets	(87,736)	(107,124)
Payment Received from Notes Receivable		15,000
Dissolution of Joint Venture	500
NET CASH USED IN INVESTING ACTIVITIES	(98,710)	(115,920)
FINANCING ACTIVITIES
Gross Proceeds from Public and Private Issuances of Securities	3,600,000	2,521,220
Less Offering Costs	(820,228)	(326,890)
Payment of Note Payable	(50,000)
Proceeds from Exercise of Warrants	2,141,100	75,848
Deferral of Payroll Taxes under the CARES Act	22,072
NET CASH PROVIDED BY FINANCING ACTIVITIES	4,892,944	2,270,178
NET CHANGE IN CASH FOR PERIOD	2,358,847	(583,392)
CASH AT BEGINNING OF PERIOD	86,919	1,279,782
CASH AT END OF PERIOD	2,445,766	696,390
Noncash investing and financing activities disclosure:
Issuance of Common Shares for Conversion of Preferred Shares and Preferred Dividends	3,417,967
Issuance of Securities for services	62,794	153,000
Interest	9,359	2,514
Income Taxes

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2018		$ 878	$ 21,509,306	$ (19,774,745)	$ 1,735,439
Balance, shares at Dec. 31, 2018		877,663
Net loss				(3,077,603)	(3,077,603)
Shares sold in Public Offering		$ 140	1,679,190		1,679,330
Shares sold in Public Offering, shares		140,080
Shares Sold in Private Placement		$ 40	514,960		515,000
Shares Sold in Private Placement, shares		40,000
Shares issued for Exercise of Warrants		$ 7	75,841		75,848
Shares issued for Exercise of Warrants, shares		7,023
Shares Issued for Cashless Exchange of UPO's		$ 9	(9)
Shares Issued for Cashless Exchange of UPO's, shares		8,843
Shares Issued for Services		$ 20	152,980		153,000
Shares Issued for Services, shares		20,150
Stock Options Awarded to Employees			321,150		321,150
Balance at Jun. 30, 2019		$ 1,094	24,253,419	(22,852,348)	1,402,165
Balance, shares at Jun. 30, 2019		1,093,759
Balance at Mar. 31, 2019		$ 1,054	23,518,514	(21,258,857)	2,260,711
Balance, shares at Mar. 31, 2019		1,053,759
Net loss				(1,593,491)	(1,593,491)
Shares Sold in Private Placement		$ 40	514,960		515,000
Shares Sold in Private Placement, shares		40,000
Shares Issued for Services			75,000		75,000
Shares Issued for Services, shares
Stock Options Awarded to Employees			144,944		144,944
Balance at Jun. 30, 2019		$ 1,094	24,253,419	(22,852,348)	1,402,165
Balance, shares at Jun. 30, 2019		1,093,759
Balance at Dec. 31, 2019		$ 1,404	26,746,439	(26,095,594)	652,249
Balance, shares at Dec. 31, 2019		1,403,759
Preferred Stock Dividends, shares		86,801
Common Shares issued for Conversion of Preferred Shares, shares		321,517
Balance at Mar. 31, 2020	$ 2	$ 1,818	29,425,382	(27,994,426)	1,432,776
Balance, shares at Mar. 31, 2020	1,378	1,817,834
Balance at Dec. 31, 2019		$ 1,404	26,746,439	(26,095,594)	652,249
Balance, shares at Dec. 31, 2019		1,403,759
Net loss				(2,493,223)	(2,493,223)
Common Shares Sold in Public Offering		$ 493	1,499,507		1,500,000
Common Shares Sold in Public Offering, shares		493,027
Preferred Shares Sold in Private Offering	$ 3		2,099,997		2,100,000
Preferred Shares Sold in Private Offering, shares	1,973
Preferred Stock Dividends		$ 410	1,006,717	(1,007,127)
Preferred Stock Dividends, shares		410,425
Common Shares issued for Conversion of Preferred Shares	$ (4)	$ 1,602	(1,598)
Common Shares issued for Conversion of Preferred Shares, shares	(3,836)	1,601,877
Preferred Shares issued for Exercise of Preferred Warrants	$ 2		2,141,098		2,141,100
Preferred Shares issued for Exercise of Preferred Warrants, shares	2,196
Securities Issued for Third Party Services		$ 3	54,921		54,924
Securities Issued for Third Party Services, shares		2,500
Stock Options Awarded to Employees			417,120		417,120
Common Shares Awarded to Employees		$ 11	7,859		7,870
Common Shares Awarded to Employees, shares		11,517
Offering Costs			(820,228)		(820,228)
Issuance of Fractional Shares from Reverse Split		$ 3	(3)
Issuance of Fractional Shares from Reverse Split, shares		3,257
Balance at Jun. 30, 2020	$ 1	$ 3,926	33,151,829	(29,595,944)	3,559,812
Balance, shares at Jun. 30, 2020	333	3,926,362
Balance at Mar. 31, 2020	$ 2	$ 1,818	29,425,382	(27,994,426)	1,432,776
Balance, shares at Mar. 31, 2020	1,378	1,817,834
Net loss				(909,638)	(909,638)
Common Shares Sold in Public Offering		$ 493	1,499,507		1,500,000
Common Shares Sold in Public Offering, shares		493,027
Preferred Shares Sold in Private Offering
Preferred Stock Dividends		$ 323	691,557	(691,880)
Preferred Stock Dividends, shares		323,624
Common Shares issued for Conversion of Preferred Shares	$ (2)	$ 1,281	(1,279)
Common Shares issued for Conversion of Preferred Shares, shares	(2,729)	1,280,360
Preferred Shares issued for Exercise of Preferred Warrants	$ 1		1,641,899		1,641,900
Preferred Shares issued for Exercise of Preferred Warrants, shares	1,684
Securities Issued for Third Party Services			15,306		15,306
Stock Options Awarded to Employees			262,950		262,950
Common Shares Awarded to Employees		$ 11	7,859		7,870
Common Shares Awarded to Employees, shares		11,517
Offering Costs			(391,352)		(391,352)
Balance at Jun. 30, 2020	$ 1	$ 3,926	$ 33,151,829	$ (29,595,944)	$ 3,559,812
Balance, shares at Jun. 30, 2020	333	3,926,362

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 - Summary of Significant Accounting Policies Nature of Business Basis of Presentation Reclassification Loss Per Share - Six Months Ended June 30, 2020 2019 Warrants 1,845,722 362,061 Preferred Stock Warrants 2,147,277 - Stock Options 486,720 110,820 Preferred Stock 61,651 - Convertible Note Payable - 2,500 Total Underlying Common Shares 4,541,370 475,381 The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended June 30, 2020 and 2019: Three Months Ended June 30 Six Months Ended June 30 2020 2019 2020 2019 Net Loss per Common Share - Basic and Diluted $ (0.49 ) $ (1.50 ) (1.48 ) $ (3.10 ) Loss from continuing Operations available to Common stockholders (numerator) $ (1,601,518 ) $ (1,593,491 ) (3,500,350 ) $ (3,077,603 ) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 3,256,098 1,077,759 2,359,862 1,006,381 Recently Enacted Accounting Standards Accounting Estimates

Inventory

Inventory	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventory	NOTE 2 – Inventory At June 30, 2020 and December 31, 2019, the Company’s inventory was comprised of: June 30, 2020 December 31, 2019 Raw Materials $ 170,530 $ 173,102 Work in Process 16,072 92,493 Finished Goods 399,038 333,123 Total Inventory $ 585,640 $ 598,718

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Notes Payable	NOTE 3 - Notes Payable On January 31, 2020, the Company paid off its Secured Convertible Promissory Note in full in the amount of $56,458, including accrued interest of $1,458 and a late fee penalty of $5,000.

Paycheck Protection Plan Loan

Paycheck Protection Plan Loan	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Paycheck Protection Plan Loan	NOTE 4 – Paycheck Protection Plan Loan On April 14, 2020, the Company was granted a loan from BOKF, NA dba Bank of Oklahoma in the aggregate amount of $361,700, pursuant to the Paycheck Protection Program (the “ ” Coronavirus Aid, Relief and Economic Security Act (the “ ” As of June 30, 2020, The Company does not anticipate taking any action that would cause any portion of the loan to be ineligible for forgiveness. However, to the extent that any amount is deemed unforgivable, such amount is payable over two to five years at an interest rate of 1%, with a deferral of payments for the first six months.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	NOTE 5 - Stockholders’ Equity Common Stock Effective February 27, 2020, our Articles of Incorporation were amended to provide for a reverse stock split of the outstanding shares of our common stock on a 1-for-10 basis (the “Reverse Stock Split”), and a corresponding decrease in the number of shares of our common stock that we are authorized to issue (the “Share Decrease”). The effects of the stock split have been retroactively reflected to all periods presented. On March 27, 2020, at a special shareholders’ meeting, our authorized shares of common stock were increased from 2,250,000 to 8,000,000. At our annual shareholders’ meeting held on June 15, 2020, our authorized shares of common stock were increased from 8,000,000 to 12,000,000. On April 6, 2020, the Company closed a public offering of equity securities in which it issued 493,027 shares of common stock and pre-funded warrants to purchase up to 22,438 shares of the Company’s common stock. The Company also issued Series A Warrants to purchase an aggregate of 515,465 shares of the Company’s common stock pursuant to a private placement. In connection with this offering, the Company issued Dawson James Securities, Inc., its Placement Agent, a warrant to purchase an aggregate of 41,237 shares of the Company’s Common Stock (which amount is based on the number of Common Shares and shares underlying the Pre-Funded Warrants) at an exercise price of $3.64 per share. Net proceeds to the Company after deducting offering expenses were approximately $1,230,000. In the second quarter of 2020, the Company issued 1,280,360 shares of common stock in exchange for the conversion of 1,684 shares of Series D Convertible Preferred stock, and 323,624 shares of common stock as in-kind payment of preferred stock dividends. In April 2020, the Company granted 11,517 shares of common stock to employees under the 2013 Equity Incentive Plan. Such shares will vest on December 31, 2020 as long as the grantee is employed by the Company on that date. In the first quarter of 2020, the Company issued 321,517 shares of common stock in exchange for the conversion of 1,107 shares of Series D Convertible Preferred stock, and 86,801 shares of common stock as in-kind payment of preferred stock dividends. In February 2020, the Company issued 2,500 shares of common stock valued at $8.70 per share to MHZCI, LLC, an investor relations firm engaged by the Company, as partial compensation for services to be rendered. In January 2019, the Company issued a total of 200,000 shares of common stock to directors valued at $1.50 per share, or $300,000, with such shares to vest ratably over four quarterly instalments, subject in each case to such director’s continuing service as a director. Also in January 2019, the Company issued 88,431 shares of common stock upon the cashless exercise of Unit Purchase Options issued in our June 2018 public offering. In January and February 2019, the Company issued a total of 70,230 shares of common stock upon the exercise of 70,230 warrants having an exercise price of $1.08 resulting in gross cash proceeds of $75,848. In March 2019, the Company issued 1,500 shares of common stock to the Company’s Vice President of Business Development in connection with his achievement of performance milestones, with such shares vesting immediately. Also in March 2019, the Company closed a public offering of equity securities in which it issued 1,400,800 shares of common stock and warrants to purchase a total of 420,240 shares of common stock resulting in net proceeds of approximately $1,679,230, after deducting placement agent commissions and other offering expenses payable by the Company. In May 2019, the Company closed a private placement of equity securities in which it issued 400,000 shares of common stock and warrants to purchase a total of 220,000 shares of common stock resulting in net proceeds of approximately $515,000, after deducting placement agent commissions and other offering expenses payable by the Company. Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock, $0.001 par value. 333 and 0 shares of preferred stock were issued and outstanding at June 30, 2020 and 2019, respectively. In January 2020, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain institutional investors (the “Institutional Private Placement”). Pursuant to the SPA, the Company issued and sold 1,640 shares of the Company’s newly created Series D Convertible Preferred Stock (the “Series D Preferred Stock”). Under the Certificate of Designations for the Series D Preferred Stock, the Series D Preferred Stock has an initial stated value of $1,000 per share (the “Stated Value”). Dividends accrue at a dividend rate of 9% per annum (subject to increase upon the occurrence (and during the continuance) of certain triggering events described therein) and, on a monthly basis, shall be payable in kind by the increase of the Stated Value of the Series D Preferred Shares by said amount. The holders of the Series D Preferred Shares will have the right at any time to convert all or a portion of the Series D Preferred Shares (including, without limitation, accrued and unpaid dividends and make-whole dividends through the third anniversary of the closing date) into shares of the Company’s Common Stock at the conversion price then in effect, which is $2.50 (subject to adjustment for stock splits, dividends, recapitalizations and similar events and full ratchet price protection). In addition, a holder may at any time, alternatively, convert all, or any part, of its Series D Preferred Shares at an alternative conversion price, which equals the lower of the applicable conversion price then in effect, and the greater of (x) $1.80 and (y) 85% of the average volume weighted average price (“VWAP”) of the Common Stock for a five (5) trading day period prior to such conversion. Upon the occurrence of certain triggering events, described in the Certificate of Designations, including, but not limited to payment defaults, breaches of transaction documents, failure to maintain listing on the Nasdaq Capital Market, and other defaults set forth therein, the Series D Preferred Shares would become subject to redemption, at the option of a holder, at a 125% premium to the underlying value of the Series D Preferred Shares being redeemed At June 30, 2020 there were 0 shares of Series D Convertible Preferred stock outstanding. Concurrent with the Institutional Private Placement, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain of its directors and the Company’s largest shareholder (the “Other Private Placement”). Pursuant to the SPA, the Company issued and sold 333 shares of the Company’s newly created Series E Convertible Preferred Stock (the “Series E Preferred Stock”). Dividends accrue at a dividend rate of 9% per annum and, on a monthly basis, shall be payable in kind by the increase of the Stated Value of the Series E Preferred Shares by said amount. The Series E Preferred Stock is initially convertible into 48,544 shares of Common Stock. At June 30, 2020, all of the issued Series E Convertible Preferred Stock were outstanding, which if converted as of June 30, 2020, including the make-whole dividends, would have resulted in the issuance of 61,651 shares of common stock. Deferred Compensation In previous years and in the six months ended June 30, 2020, the Company issued to various employees, directors, and contractors shares of the Company’s common stock, subject to restrictions, pursuant to the 2013 Equity Incentive Plan (the “2013 Plan”). Such shares are valued at the fair value at the date of issue. The fair value is expensed as compensation over the vesting period and recorded as an increase to stockholders’ equity. During the six months ended June 30, 2020 and June 30, 2019, $7,870 and $153,000, respectively, of the unvested compensation cost related to these issues was recognized. At June 30, 2020, there was $15,740 of unrecognized deferred compensation expense to be recognized over the remainder of the year. Stock Options On June 15, 2020, at the Annual Meeting of Stockholders of the Company, the Company’s stockholders approved an amendment to the 2013 Plan to increase the number of shares of the Company’s common stock reserved for issuance under the 2013 Plan by 650,000 shares of our common stock to a total of 890,000 shares. In August 2019, the Company terminated its 2011 Equity Incentive Plan. As of June 30, 2020, an aggregate of 436,720 shares of common stock were reserved for issuance under the 2013 Plan. During the six months ended June 30, 2020, the Company granted options to purchase a total of 335,183 shares of common stock to 19 employees and 4 consultants with vesting periods ranging from immediately upon issuance to 3 years beginning June 15, 2020. During the six months ended June 30, 2019, the Company granted options to purchase a total of 286,925 shares of common stock to 18 employees and 1 consultant with vesting periods ranging from immediately upon issuance to 4 years beginning January 2019. The Company generally grants stock options to employees and directors at exercise prices equal to the fair market value of the Company’s stock on the dates of grant. Stock options are typically granted throughout the year and generally vest over four years of service and expire five years from the date of the award, unless otherwise specified. The Company recognizes compensation expense for the fair value of the stock options over the requisite service period for each stock option award. Total share-based compensation expense included in the statements of operations for the six months ended June 30, 2020 and 2019 is $424,989 and $474,566 of which $417,119 and $321,149 is related to stock options, respectively. The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the six months ended June 30, 2020 and 2019: Assumptions: 2020 2019 Dividend yield 0.00 0.00 Risk-free interest rate .22-1.52 % 1.90-2.54 % Expected volatility 113.8-117.2 % 105.2-106.1 % Expected life (in years) 5 5 Option activity for the six months ended June 30, 2020 and the year ended December 31, 2019 was as follows: Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic Options ($) Life (Yrs.) Value ($) Options outstanding at December 31, 2018 82,627 24.90 6.47 60,090 Granted 100,335 12.50 4.79 Exercised - - - Forfeited or cancelled (2,050 ) 16.80 - Options outstanding at December 31, 2019 180,912 18.11 5.09 25,988 Granted 335,183 2.58 4.94 52,214 Exercised - - - - Forfeited or cancelled (29,375 ) 28.01 Options outstanding June 30, 2020 486,720 6.82 4.70 62,384 Options expected to vest in the future as of June 30, 2020 305,715 5.23 4.82 41,480 Options exercisable at June 30, 2020 181,005 9.51 4.49 20,904 Options vested, exercisable, and options expected to vest at June 30, 2020 486,720 62,384 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of our common stock for those awards that have an exercise price currently below the $2.67 closing price of our common stock on June 30, 2020. 324,833 of the 2020 option grants have an exercise price currently below $2.67. At June 30, 2020, there was $1,088,934 of unrecognized share-based compensation expense related to unvested share options with a weighted average remaining recognition period of 3.13 years. Stock Appreciation Rights On June 23, 2020, the board of directors (the “Board”) of the Company adopted the Sigma Labs, Inc. 2020 Stock Appreciation Rights Plan (the “Plan”). The purposes of the Plan are to: (i) enable the Company to attract and retain the types of employees, consultants and directors (collectively, “Service Providers”) who will contribute to the Company’s long range success; (ii) provide incentives that align the interests of Service Providers with those of the shareholders of the Company; and (iii) promote the success of the Company’s business. The Plan provides for incentive awards that are only made in the form of stock appreciation rights payable in cash (“SARs”). No shares of common stock were reserved in connection with the adoption of the Plan since no shares will be issued pursuant to the Plan. SARs may be granted to any Service Provider. A SAR is the right to receive an amount equal to the Spread with respect to a share of the Company’s common stock (“Share”) upon the exercise of the SAR. The “Spread” is the difference between the exercise price per share specified in a SAR agreement on the date of grant and the fair market value per share on the date of exercise of the SAR. The exercise price per share will not be less than 100% of the fair market value of a Share on the date of grant of the SAR. The administrator of the Plan will have the authority to, among other things, prescribe the terms and conditions of each SAR, including, without limitation, the exercise price and medium of payment and vesting provisions, and to specify the provisions of the SAR Agreement relating to such grant. On June 23, 2020, the Company granted, pursuant to the Plan, (i) 60,094 SARs to its President and Chief Executive Officer, (ii) 12,019 SARs to its Vice President of Business Development, (iii) 24,038 SARs to its Chief Technology Officer, and (iv) 18,028 SARs to its Chief Financial Officer. The exercise price of each such SAR is $2.63, which was the closing price of the Company’s common stock on the date of grant. Such SARs expire on the fifth anniversary of the grant date and may be settled only in cash. Additionally, each such SAR will vest and become exercisable in three equal (as closely as possible) installments on each of the first, second and third anniversaries of the grant date, subject, in each case, to the applicable SAR holder being in the continuous employ of the Company on the applicable vesting date, and, in the event of a Change in Control (as defined in the Plan), will become immediately vested and exercisable as long as the applicable holder is in the Company’s employ immediately prior to the Change in Control, and will otherwise be on such other terms set forth in the form of Stock Appreciation Rights Agreement. The Company recognizes compensation expense and a corresponding liability for the fair value of the SARs over the requisite service period for each SAR award. The SAR’s are revalued at each reporting date in accordance with ASC 718 “Compensation-Stock Compensation”, and any changes in fair value are reflected in income as of the applicable reporting date. The fair value of SAR awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the six months ended June 30, 2020: Assumptions: 2020 Dividend yield 0.00 Risk-free interest rate .22 % Expected volatility 116.9 % Expected life (in years) 5 SARs activity for the six months ended June 30, 2020 was as follows: Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic SARs ($) Life (Yrs.) Value ($) SARs outstanding at December 31, 2019 - - - - Granted 114,179 2.63 4.98 - Exercised - - - - Forfeited or cancelled - - SARs outstanding June 30, 2020 114,129 2.63 4.98 5,709 SARs expected to vest in the future as of June 30, 2020 114,179 2.63 4.98 5,709 SARs exercisable at June 30, 2020 - - - - SARs vested, exercisable, and options expected to vest at June 30, 2020 114,179 2.63 4.98 5,709 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of our common stock for those awards that have an exercise price currently below the $2.67 closing price of our common stock on June 30, 2020. All of the 2020 SARs grants have an exercise price currently below $2.67. At June 30, 2020, there was $236,419 of unrecognized share-based compensation expense related to unvested SARs with a weighted average remaining recognition period of 2.98 years. Warrants Warrant activity for the six months ended June 30, 2020 and 2019 was as follows: Weighted Average Weighted Average Exercise Remaining Price Contractual Warrants ($) Life (Yrs.) Warrants outstanding at December 31, 2018 305,060 27.50 3.86 Granted 64,024 16.00 4.94 Exercised (7,023 ) 10.80 - Forfeited or cancelled - - - Warrants outstanding at June 30, 2019 362,061 25.80 3.63 Warrants outstanding at December 31, 2019 363,727 25.60 3.12 Granted 1,481,995 3.22 5.14 Exercised - Forfeited or cancelled - Warrants outstanding at June 30, 2020 1,845,722 7.64 4.64 In connection with its January 2020 private placement, the Company issued 6,156 warrants to purchase its Series D Preferred Stock (the Preferred Warrants”). The Preferred Warrants have an exercise price of $975 per warrant and expire on February 15, 2021. Pursuant to the terms of the Securities Purchase Agreement, the Company forced the exercise of 512 warrants on March 27, 2020. During the second quarter, an additional 1,684 warrants were exercised, resulting in the issuance of 1,603,984 shares of common stock. As of June 30, 2020, there were 3,960 Preferred Warrants outstanding, which if exercised would result in the issuance of 3,960 shares of Series D Convertible Preferred Stock. The Series D Convertible Preferred stock, including make-whole dividends, was convertible into 2,147,277 shares of common stock on June 30, 2020.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 6 - Subsequent Events The Company performed an evaluation of subsequent events through the date of filing of these condensed financial statements with the SEC. There were no material subsequent events which affected, or could affect, the amounts or disclosures in the condensed financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Nature of Business	Nature of Business -Sigma Labs, Inc., formerly named Framewaves, Inc., a Nevada corporation, was founded by a group of scientists, engineers and businessmen to develop and commercialize novel and unique manufacturing and materials technologies. Sigma believes that some of these technologies will fundamentally redefine conventional quality assurance and process control practices by embedding them into the manufacturing processes in real time, enabling process intervention and ultimately leading to closed loop process control. The Company anticipates that its core technologies will allow its clientele to combine advanced manufacturing quality assurance and process control protocols with novel materials to achieve breakthrough product potential in many industries including aerospace, defense, oil and gas, bio-medical, and power generation. The terms the “Company,” “Sigma,” “we,” “us” and “our” refer to Sigma Labs, Inc.
Basis of Presentation	Basis of Presentation
Reclassification	Reclassification
Loss Per Share	Loss Per Share - Six Months Ended June 30, 2020 2019 Warrants 1,845,722 362,061 Preferred Stock Warrants 2,147,277 - Stock Options 486,720 110,820 Preferred Stock 61,651 - Convertible Note Payable - 2,500 Total Underlying Common Shares 4,541,370 475,381 The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended June 30, 2020 and 2019: Three Months Ended June 30 Six Months Ended June 30 2020 2019 2020 2019 Net Loss per Common Share - Basic and Diluted $ (0.49 ) $ (1.50 ) (1.48 ) $ (3.10 ) Loss from continuing Operations available to Common stockholders (numerator) $ (1,601,518 ) $ (1,593,491 ) (3,500,350 ) $ (3,077,603 ) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 3,256,098 1,077,759 2,359,862 1,006,381
Recently Enacted Accounting Standards	Recently Enacted Accounting Standards
Accounting Estimates	Accounting Estimates

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per	At June 30, 2020 and 2019, the Company had the following common shares underlying these instruments: Six Months Ended June 30, 2020 2019 Warrants 1,845,722 362,061 Preferred Stock Warrants 2,147,277 - Stock Options 486,720 110,820 Preferred Stock 61,651 - Convertible Note Payable - 2,500 Total Underlying Common Shares 4,541,370 475,381
Schedule of Earnings Per Share, Basic and Diluted	The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended June 30, 2020 and 2019: Three Months Ended June 30 Six Months Ended June 30 2020 2019 2020 2019 Net Loss per Common Share - Basic and Diluted $ (0.49 ) $ (1.50 ) (1.48 ) $ (3.10 ) Loss from continuing Operations available to Common stockholders (numerator) $ (1,601,518 ) $ (1,593,491 ) (3,500,350 ) $ (3,077,603 ) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 3,256,098 1,077,759 2,359,862 1,006,381

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	At June 30, 2020 and December 31, 2019, the Company’s inventory was comprised of: June 30, 2020 December 31, 2019 Raw Materials $ 170,530 $ 173,102 Work in Process 16,072 92,493 Finished Goods 399,038 333,123 Total Inventory $ 585,640 $ 598,718

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the six months ended June 30, 2020 and 2019: Assumptions: 2020 2019 Dividend yield 0.00 0.00 Risk-free interest rate .22-1.52 % 1.90-2.54 % Expected volatility 113.8-117.2 % 105.2-106.1 % Expected life (in years) 5 5
Schedule of Stock Option Activity	Option activity for the six months ended June 30, 2020 and the year ended December 31, 2019 was as follows: Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic Options ($) Life (Yrs.) Value ($) Options outstanding at December 31, 2018 82,627 24.90 6.47 60,090 Granted 100,335 12.50 4.79 Exercised - - - Forfeited or cancelled (2,050 ) 16.80 - Options outstanding at December 31, 2019 180,912 18.11 5.09 25,988 Granted 335,183 2.58 4.94 52,214 Exercised - - - - Forfeited or cancelled (29,375 ) 28.01 Options outstanding June 30, 2020 486,720 6.82 4.70 62,384 Options expected to vest in the future as of June 30, 2020 305,715 5.23 4.82 41,480 Options exercisable at June 30, 2020 181,005 9.51 4.49 20,904 Options vested, exercisable, and options expected to vest at June 30, 2020 486,720 62,384
Summary of Warrant Activity	Warrant activity for the six months ended June 30, 2020 and 2019 was as follows: Weighted Average Weighted Average Exercise Remaining Price Contractual Warrants ($) Life (Yrs.) Warrants outstanding at December 31, 2018 305,060 27.50 3.86 Granted 64,024 16.00 4.94 Exercised (7,023 ) 10.80 - Forfeited or cancelled - - - Warrants outstanding at June 30, 2019 362,061 25.80 3.63 Warrants outstanding at December 31, 2019 363,727 25.60 3.12 Granted 1,481,995 3.22 5.14 Exercised - Forfeited or cancelled - Warrants outstanding at June 30, 2020 1,845,722 7.64 4.64
2020 Stock Appreciation Rights Plan [Member]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of SAR awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the six months ended June 30, 2020: Assumptions: 2020 Dividend yield 0.00 Risk-free interest rate .22 % Expected volatility 116.9 % Expected life (in years) 5
Schedule of Stock Option Activity	SARs activity for the six months ended June 30, 2020 was as follows: Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic SARs ($) Life (Yrs.) Value ($) SARs outstanding at December 31, 2019 - - - - Granted 114,179 2.63 4.98 - Exercised - - - - Forfeited or cancelled - - SARs outstanding June 30, 2020 114,129 2.63 4.98 5,709 SARs expected to vest in the future as of June 30, 2020 114,179 2.63 4.98 5,709 SARs exercisable at June 30, 2020 - - - - SARs vested, exercisable, and options expected to vest at June 30, 2020 114,179 2.63 4.98 5,709

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Total Underlying Common Shares	4,541,370	475,381
Warrants [Member]
Total Underlying Common Shares	1,845,722	362,061
Preferred Stock Warrants [Member]
Total Underlying Common Shares	2,147,277
Stock Options [Member]
Total Underlying Common Shares	486,720	110,820
Preferred Stock [Member]
Total Underlying Common Shares	61,651
Convertible Note Payable [Member]
Total Underlying Common Shares		2,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Net Loss per Common Share - Basic and Diluted	$ (0.49)	$ (1.5)	$ (1.48)	$ (3.1)
Loss from continuing Operations available to Common stockholders (numerator)	$ (1,601,518)	$ (1,593,491)	$ (3,500,350)	$ (3,077,603)
Weighted average number of common shares Outstanding used in loss per share during the Period (denominator)	3,256,098	1,077,759	2,359,862	1,006,381

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw Materials	$ 170,530	$ 173,102
Work in Process	16,072	92,493
Finished Goods	399,038	333,123
Total Inventory	$ 585,640	$ 598,718

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - Secured Convertible Promissory Note [Member]	Jan. 31, 2020USD ($)
Repayments of convertible debt	$ 56,458
Accrued interest	1,458
Late fee penalty	$ 5,000

Paycheck Protection Plan Loan (

Paycheck Protection Plan Loan (Details Narrative) - Bank of Oklahoma [Member] - Paycheck Protection Program [Member] - USD ($)	Apr. 14, 2020	Jun. 30, 2020
Proceeds from loan	$ 361,700
Debt instrument payment terms description		Amount is payable over two to five years at an interest rate of 1%, with a deferral of payments for the first six months.
Debt instrument, interest rate		1.00%

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Jul. 15, 2020	Jun. 23, 2020	Apr. 06, 2020	Feb. 27, 2020	Apr. 30, 2020	Feb. 29, 2020	Jan. 31, 2020	May 31, 2019	Mar. 31, 2019	Feb. 28, 2019	Jan. 31, 2019	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jun. 15, 2020	Mar. 27, 2020
Reverse stock split				1-for-10 basis
Common stock, shares authorized												12,000,000	8,000,000		12,000,000		12,000,000	8,000,000	2,250,000
Common stock issued during period										70,230	70,230
Share price per share										$ 1.08	$ 1.08
Common stock issued during period, value										$ 75,848	$ 75,848					$ 1,679,330
Warrants exercise, shares										70,230	70,230
Preferred stock, shares authorized												10,000,000		10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, par value												$ 0.001		$ 0.001	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued												333			333		0
Preferred stock, shares outstanding												333			333		0
Unvested compensation cost												$ 7,870		$ 153,000	$ 7,870	$ 153,000
Unrecognized deferred compensation expense to be recognized over remainder of year												$ 15,740			$ 15,740
Number of shares granted															335,183		100,335
Share based compensation															$ 424,989	$ 474,566
Options exercise price															$ 2.67
Unrecognized share based compensation															$ 1,088,934
Weighted average remaining recognition period of unvested share options															4 years 8 months 12 days
Warrant exercised																7,023
June 2018 Public Offering [Member]
Common stock issued during period											88,431
Securities Purchase Agreement [Member]
Warrants to purchase shares of common stock																			512
2013 Equity Incentive Plan [Member]
Common shares granted for the period					11,517
2013 Stock Option Plan [Member]
Common stock issued during period	890,000
Common stock shares reserved for issuance	650											436,720			436,720
2020 Stock Appreciation Rights Plan [Member]
Number of shares granted															114,179
Options exercise price		$ 2.63													$ 2.67
Unrecognized share based compensation															$ 236,419
Weighted average remaining recognition period of unvested share options															4 years 11 months 23 days
Percentage for stock appreciation rights exercise price															100.00%
Series D Convertible Preferred Stock [Member]
Common stock issued during period															1,280,360
Common shares issued for conversion of preferred shares													1,107		1,684
Preferred stock dividend, shares															323,624
Preferred stock, shares outstanding												0			0
Series D Convertible Preferred Stock [Member] | Securities Purchase Agreement [Member]
Share issued and sold during period, shares							1,640
Preferred stock dividend rate							9.00%
Preferred stock conversion price per shares							$ 2.50
Preferred stock, description							In addition, a holder may at any time, alternatively, convert all, or any part, of its Series D Preferred Shares at an alternative conversion price, which equals the lower of the applicable conversion price then in effect, and the greater of (x) $1.80 and (y) 85% of the average volume weighted average price ("VWAP") of the Common Stock for a five (5) trading day period prior to such conversion. Upon the occurrence of certain triggering events, described in the Certificate of Designations, including, but not limited to payment defaults, breaches of transaction documents, failure to maintain listing on the Nasdaq Capital Market, and other defaults set forth therein, the Series D Preferred Shares would become subject to redemption, at the option of a holder, at a 125% premium to the underlying value of the Series D Preferred Shares being redeemed
Series D Preferred Stock [Member] | Securities Purchase Agreement [Member]
Preferred stock, par value							$ 1,000
Series E Convertible Preferred Stock [Member]
Common stock issued during period															61,651
Series E Convertible Preferred Stock [Member] | Securities Purchase Agreement [Member]
Share issued and sold during period, shares															333
Common shares issued for conversion of preferred shares															48,544
Preferred stock dividend rate															9.00%
Directors [Member]
Common stock issued during period											200,000
Share price per share											$ 1.50
Common stock issued during period, value											$ 300,000
Vice President [Member]
Common stock issued during period									1,500
Vice President [Member] | 2020 Stock Appreciation Rights Plan [Member]
Common shares granted for the period		12,019
19 Employees [Member]
Number of shares granted																335,183
Vesting period																3 years
4 Consultant [Member]
Number of shares granted															335,183
Vesting period															3 years
18 Employees [Member]
Number of shares granted																286,925
Vesting period																4 years
1 Consultant [Member]
Number of shares granted																286,925
Vesting period																4 years
President and Chief Executive Officer [Member] | 2020 Stock Appreciation Rights Plan [Member]
Common shares granted for the period		60,094
Chief Technology Officer [Member] | 2020 Stock Appreciation Rights Plan [Member]
Common shares granted for the period		24,038
Chief Financial Officer [Member] | 2020 Stock Appreciation Rights Plan [Member]
Common shares granted for the period		18,028
Dawson James Securities, Inc [Member] | Placement Agent [Member]
Warrants to purchase shares of common stock			41,237
MHZCI, LLC [Member]
Number of common stock issued for services						2,500
Share price per share						$ 8.70
Pre-funded Warrants [Member]
Warrants to purchase shares of common stock			22,438
Warrants exercise price			$ 3.64
Series A Warrants [Member]
Warrants to purchase shares of common stock			515,465
Common Stock [Member]
Share issued and sold during period, shares														40,000		40,000
Common stock issued during period																140,080
Common shares issued for conversion of preferred shares												1,280,360	321,517		1,601,877
Preferred stock dividend, shares												323,624	86,801		410,425
Number of common stock issued for services																20,150
Common stock issued during period, value																$ 140
Common Stock [Member] | Series D Convertible Preferred Stock [Member]
Common stock issued during period												1,603,984
Common shares issued for conversion of preferred shares															2,147,277
Warrant exercised												1,684
Stock Options [Member]
Share based compensation															$ 417,119	$ 321,149
Preferred Warrants [Member]
Warrant outstanding												3,960			3,960
Public Offering [Member]
Share issued and sold during period, shares			493,027
Warrants to purchase shares of common stock									420,240
Proceeds from public offering			$ 1,230,000						$ 1,679,230
Common stock issued during period									1,400,800
Private Placement [Member]
Warrants to purchase shares of common stock								220,000
Common stock issued during period								400,000
Proceeds from private placement								$ 515,000
Private Placement [Member] | Series D Preferred Stock [Member]
Warrants to purchase shares of common stock							6,156
Warrants exercise price							$ 975
Warrants expiration date							Feb. 15, 2021

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Dividend yield	0.00%	0.00%
Risk-free interest rate, minimum	0.22%	1.90%
Risk-free interest rate, maximum	1.52%	2.54%
Expected volatility, minimum	113.80%	105.20%
Expected volatility, maximum	117.20%	106.10%
Expected life (in years)	5 years	5 years
2020 Stock Appreciation Rights Plan [Member]
Dividend yield	0.00%
Risk-free interest rate	0.22%
Expected volatility	116.90%
Expected life (in years)	5 years

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Stock Option Activity (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of Options, Outstanding, Beginning Balance	180,912	82,627
Number of Options, Granted	335,183	100,335
Number of Options, Exercised
Number of Options, Forfeited or cancelled	(29,375)	(2,050)
Number of Options, Outstanding Ending Balance	486,720	180,912
Number of Options, Expected to Vest in the Future Ending Balance	305,715
Number of Options, Exercisable	181,005
Number of Options, Vested, Exercisable and Options Expected to Vest Ending Balance	486,720
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 18.11	$ 24.90
Weighted Average Exercise Price, Granted	2.58	12.50
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited or cancelled	28.01	16.80
Weighted Average Exercise Price, Outstanding	6.82	$ 18.11
Weighted Average Exercise Price, Expected to Vest	5.23
Weighted Average Exercise Price, Exercisable	9.51
Weighted Average Exercise Price, Vested, Exercisable and Options Expected to Vest
Weighted Average Remaining Contractual Life, Outstanding Beginning	5 years 1 month 2 days	6 years 5 months 20 days
Weighted Average Remaining Contractual Life, Granted	4 years 11 months 8 days	4 years 9 months 14 days
Weighted Average Remaining Contractual Life, Outstanding	0 years	5 years 1 month 2 days
Weighted Average Remaining Contractual Life, Expected to Vest	4 years 8 months 12 days
Weighted Average Remaining Contractual Life, Exercisable	4 years 9 months 25 days
Weighted Average Remaining Contractual Life, Vested, Exercisable and Options Expected to Vest	4 years 5 months 27 days
Aggregate Intrinsic Value, Outstanding, Beginning Balance	$ 25,988	$ 60,090
Aggregate Intrinsic Value, Granted	52,214
Aggregate Intrinsic Value, Outstanding, Ending Balance	62,384	$ 25,988
Aggregate Intrinsic Value, Options expected to vest in the future	41,480
Aggregate Intrinsic Value, Options exercisable	20,904
Aggregate Intrinsic Value, Options vested, exercisable and options expected to vest	$ 62,384
2020 Stock Appreciation Rights Plan [Member]
Number of Options, Outstanding, Beginning Balance
Number of Options, Granted	114,179
Number of Options, Exercised
Number of Options, Forfeited or cancelled
Number of Options, Outstanding Ending Balance	114,129
Number of Options, Expected to Vest in the Future Ending Balance	114,179
Number of Options, Exercisable
Number of Options, Vested, Exercisable and Options Expected to Vest Ending Balance	114,179
Weighted Average Exercise Price, Outstanding Beginning Balance
Weighted Average Exercise Price, Granted	2.63
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited or cancelled
Weighted Average Exercise Price, Outstanding	2.63
Weighted Average Exercise Price, Expected to Vest	2.63
Weighted Average Exercise Price, Exercisable
Weighted Average Exercise Price, Vested, Exercisable and Options Expected to Vest	$ 2.63
Weighted Average Remaining Contractual Life, Outstanding Beginning	0 years
Weighted Average Remaining Contractual Life, Granted	4 years 11 months 23 days
Weighted Average Remaining Contractual Life, Outstanding	4 years 11 months 23 days
Weighted Average Remaining Contractual Life, Expected to Vest	4 years 11 months 23 days
Weighted Average Remaining Contractual Life, Exercisable	0 years
Weighted Average Remaining Contractual Life, Vested, Exercisable and Options Expected to Vest	4 years 11 months 23 days
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 5,709
Aggregate Intrinsic Value, Options expected to vest in the future	5,709
Aggregate Intrinsic Value, Options exercisable
Aggregate Intrinsic Value, Options vested, exercisable and options expected to vest	$ 5,709

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Warrant Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Equity [Abstract]
Number of Shares, Warrants Outstanding, Beginning balance	363,727	305,060
Number of Shares, Warrants Granted	1,481,995	64,024
Number of Shares, Warrants Exercised		(7,023)
Number of Shares, Warrants Forfeited or Cancelled
Number of Shares, Warrants Outstanding, Ending balance	1,845,722	362,061
Weighted Average Exercise Price, Warrants Outstanding, Beginning Balance	$ 25.60	$ 27.50
Weighted Average Exercise Price, Warrants Granted	3.22	16
Weighted Average Exercise Price, Warrants Exercised		10.80
Weighted Average Exercise Price, Warrants Forfeited Or Cancelled
Weighted Average Exercise Price, Warrants Outstanding, Ending Balance	$ 7.64	$ 25.80
Weighted Average Remaining Contractual Life (Yrs.), Warrants outstanding, Beginning balance	3 years 1 month 13 days	3 years 10 months 10 days
Weighted Average Remaining Contractual Life (Yrs.), Warrants Grants	5 years 1 month 20 days	4 years 11 months 8 days
Weighted Average Remaining Contractual Life (Yrs.), Warrants outstanding, Ending balance	4 years 7 months 21 days	3 years 7 months 17 days