AgEagle Aerial Systems (UAVS) 10-Q 15 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 15, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	AgEagle Aerial Systems Inc.
Entity Central Index Key	0000008504
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		14,949,394

CONDENSED INTERIM CONSOLIDATED

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)		Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash		$ 2,151,124	$ 2,601,730
Accounts receivable		11,493	93
Inventories, net		134,137	149,482
Prepaid and other current assets		66,872	80,370
Total current assets		2,363,626	2,831,675
Property and equipment, net		25,142	28,374
Intangible assets, net		635,282	677,118
Goodwill		3,270,984	3,270,984
Total assets		6,295,034	6,808,151
CURRENT LIABILITIES:
Accounts payable		227,958	197,827
Accrued expenses		21,825	41,841
Accrued dividends		41,333	1,333
Contract liability		2,524	4,892
Payroll liabilities		29,172	13,521
Promissory note		9,028	40,998
Total current liabilities		331,840	300,412
Total liabilities		331,840	300,412
STOCKHOLDERS' EQUITY:
Preferred stock value		0	0
Common Stock, $0.001 par value, 250,000,000 shares authorized, 14,449,394 and 12,549,394 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively		14,449	12,549
Additional paid-in capital		12,190,295	12,171,274
Accumulated deficit		(6,241,556)	(5,676,091)
Total stockholders' equity		5,963,194	6,507,739
Total liabilities and stockholders' equity		6,295,034	6,808,151
Series B Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Preferred stock value	[1]	0	0
Series C Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Preferred stock value	[2]	4	5
Series D Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Preferred stock value	[3]	$ 2	$ 2
[1]	Preferred stock, Series B, $0.001 par value, 0 shares authorized, 0 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively
[2]	Preferred stock, Series C Convertible, $0.001 par value, 10,000 shares authorized, 3,636 shares issued and outstanding at March 31, 2019 and 4,662 at December 31, 2018
[3]	Preferred stock, Series D Convertible, $0.001 par value, 2,000 shares authorized, 2,000 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively

CONDENSED INTERIM CONSOLIDATE_2

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Common stock, par value	$ 0.001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	14,449,394	12,549,394
Common stock, shares outstanding	14,449,394	12,549,394
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	0	0
Preferred stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Series C Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	3,636	4,662
Preferred Stock, shares outstanding	3,636	4,662
Series D Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,000	2,000
Preferred stock, shares issued	2,000	2,000
Preferred Stock, shares outstanding	2,000	2,000

CONDENSED INTERIM CONSOLIDATE_3

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenues	$ 45,993	$ 29,191
Cost of sales	33,948	23,798
Gross Profit	12,045	5,393
Operating Expenses:
Selling expenses	12,127	4,627
General and administrative	474,902	40,853
Professional fees	90,019	151,061
Total operating expenses	577,048	196,541
Loss from operations	(565,003)	(191,148)
Other Income (Expenses):
Other income	0	15,065
Interest expense	(462)	(27,414)
Total Other Expenses, Net	(462)	(12,349)
Loss Before Income Taxes	(565,465)	(203,497)
Provision for income taxes	0	0
Net Loss	$ (565,465)	$ (203,497)
Net Loss Per Share - Basic and Diluted	$ (0.04)	$ (0.04)
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	13,254,949	4,919,236

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)	Preferred Stock Series A Shares	Preferred Stock Series B Shares	Preferred Stock Series C Shares	Preferred Stock Series D Shares	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance, beginning at Dec. 31, 2017					$ 420	$ 1,939,832	$ (3,596,408)	$ (1,656,156)
Balance, beginning (shares) at Dec. 31, 2017	80,000	14	12		651,796
Pre-merger issuances and conversions of shares
Pre-merger issuances and conversions of shares (shares)	(80,000)	(6)	(12)		3,548,204
AgEagle debt conversion into common stock					$ 788	1,503,013		1,503,801
AgEagle debt conversion into common stock (Shares)					787,891
AgEagle shareholder common stock conversion to Enerjex common shares					$ 6,537	(6,537)
AgEagle shareholder common stock conversion to Enerjex common shares (Shares)			2,056		2,757,063
Investment in Agribotix					$ 200	999,800		1,000,000
Investment in Agribotix (Shares)					200,000
Issuance of common and preferred stock for Enerjex shareholders upon merger		$ 0	$ 1		$ 1,887	(606,443)		(604,555)
Issuance of common and preferred stock for Enerjex shareholders upon merger (Share)			197		1,887,094
Issuance of common stock Series C in connection with investment upon merger			$ 6			3,979,994		3,980,000
Issuance of common stock Series C in connection with investment upon merger (Share)			4,626
Share compensation period costs						2,491		2,491
Net loss							(203,497)	(203,497)
Balance, ending at Mar. 31, 2018		$ 0	$ 7		$ 9,832	7,812,150	(3,799,905)	4,022,084
Balance, ending (shares) at Mar. 31, 2018		8	6,879		9,832,048
Balance, beginning at Dec. 31, 2018			$ 5	$ 2	$ 12,549	12,171,274	(5,676,091)	6,507,739
Balance, beginning (shares) at Dec. 31, 2018			4,662	2,000	12,549,394
Conversion of Series C Preferred Stock			$ (1)		$ 1,900	(1,899)
Conversion of Series C Preferred Stock (Share)			(1,026)		1,900,000
Conversion of Series D Preferred Stock						(40,000)		(40,000)
Conversion of Series D Preferred Stock (Share)
Share compensation period costs						60,920		60,920
Net loss							(565,465)	(565,465)
Balance, ending at Mar. 31, 2019			$ 4	$ 2	$ 14,449	$ 12,190,295	$ (6,241,556)	$ 5,963,194
Balance, ending (shares) at Mar. 31, 2019			3,636	2,000	14,449,394

CONDENSED INTERIM CONSOLIDATE_4

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (565,465)	$ (203,497)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	45,068	4,151
Stock-based compensation	60,920	2,491
Changes in assets and liabilities:
Accounts receivable	(11,400)	171
Inventories	15,345	15,267
Prepaid expenses and other assets	13,498	(114,276)
Contract liability	(2,368)	0
Accounts payable	30,131	(461,415)
Accrued liabilities	(20,016)	(39,634)
Accrued interest	0	27,412
Accrued payroll liabilities	15,651	(469)
Net cash used in operating activities	(418,636)	(769,799)
CASH FLOW FROM INVESTING ACTIVITIES:
Cash received in reverse merger	0	256,255
Investment in unconsolidated investee	0	(35,000)
Net cash used in investing activities	0	221,255
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on promissory note	(31,970)	0
Proceeds from the issuance of Common Stock and Series C convertible preferred stock in connection with merger, net of $20,000 in fees	0	3,980,000
Net cash (used in) provided by financing activities	(31,970)	3,980,000
Net increase (decrease) in cash	(450,606)	3,431,456
Cash at beginning of period	2,601,730	35,289
Cash at end of period	2,151,124	3,466,745
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest cash paid	462	0
Income taxes paid	0	0
NONCASH INVESTING AND FINANCING ACTIVITIES:
Assets acquired and (liabilities assumed) in reverse merger cash	0	256,255
Assets acquired and (liabilities assumed) in reverse merger accounts payable	0	(860,812)
Net liabilities assumed	0	(604,557)
Investment made in unconsolidated investee	0	1,000,000
Accrued dividends on Series D Preferred Stock	$ 40,000	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Parenthetical)	3 Months Ended
	Mar. 31, 2019USD ($)
Statement of Cash Flows [Abstract]
Reverse merger Fees	$ 20,000

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Description of Business	Note 1 – Description of Business AgEagle Aerial Systems Inc. (“AgEagle,” “the Company,” “we,” “our,” “us” or “its,”) was created to pioneer, innovate and advance aerial imaging data collection and analytics technologies capable of addressing the impending food and environmental sustainability crises that threaten our planet. The Company’s daily efforts are focused on delivering the metrics, tools and strategies necessary to define and implement intelligent sustainability and precision farming solutions that solve important problems confronting the agricultural industry. Since its founding in 2010, AgEagle has been intent on becoming a trusted partner to major food manufacturers and precision growers seeking to adopt and support productive agricultural approaches to better farming practices which limit the impact on our natural resources, reduce reliance on inputs and materially increase crop yields and profits. In early 2019, AgEagle expanded its marketing efforts to provide for the introduction of its proprietary aerial imagery and data analytics platform to municipal, state and federal agencies charged with assessing and supporting sustainability initiatives involving public parks and recreation areas, also referred to as urban green spaces. The Company also designs, produces, distributes and supports technologically-advanced small unmanned aerial vehicles (UAVs or drones) that AgEagle offers for sale commercially to the precision agriculture industry. In addition to UAV sales, in late 2018, the Company introduced a new drone-leasing program, alleviating farmers and agribusinesses from significant upfront costs associated with purchasing a drone, while also relieving them from ongoing drone maintenance and support requirements. Additionally, the new program provides the option of engaging a trained AgEagle pilot to operate the drone and manage the entire image collection process, creating a truly turnkey aerial imagery capture solution for its customers. Central to the Company’s long-term growth strategy, AgEagle will continue to identify opportunities to leverage its proprietary technological platform and industry expertise to penetrate new, high growth market sectors that may benefit from the Company’s advanced aerial imagery-based data collection and analytics solutions. The Company is headquartered at 117 South 4 th Corporate History; Recent Business Combination On March 26, 2018, our predecessor company, EnerJex Resources, Inc. (“EnerJex”), a Nevada company, consummated the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), dated October 19, 2017, pursuant to which AgEagle Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of EnerJex, merged with and into AgEagle Aerial Systems Inc., a privately held company organized under the laws of the state of Nevada (“AgEagle Sub”), with AgEagle Sub surviving as a wholly-owned subsidiary of EnerJex (the “Merger”). In connection with the Merger, EnerJex changed its name to AgEagle Aerial Systems Inc and AgEagle Sub changed its name to “Eagle Aerial, Inc.” Prior to the Merger, EnerJex was formerly known as Millennium Plastics Corporation (“Millennium) and was incorporated in the State of Nevada on March 31, 1999. In August 2006, Millennium acquired Midwest Energy, Inc., a Nevada corporation pursuant to a reverse merger. After such merger, Midwest Energy became a wholly-owned subsidiary, and as a result of such merger, the former Midwest Energy stockholders controlled approximately 98% of our outstanding shares of Common Stock. Midwest then changed its name to EnerJex Resources, Inc., (“EnerJex”) in connection with this merger, and in November 2007, it changed the name of Midwest Energy (one of our wholly-owned subsidiaries) to EnerJex Kansas, Inc. (“EnerJex Kansas”). All of its operations conducted prior to this merger were through EnerJex Kansas, Inc., Black Sable Energy, LLC, a Texas limited liability company (“Black Sable”) and Black Raven Energy, Inc. a Nevada corporation (“Black Raven”). Our leasehold interests were held in our wholly-owned subsidiaries Black Sable, Working Interest, LLC, EnerJex Kansas and Black Raven. On August 28, 2018, AgEagle acquired all right, title and interest in and to all assets owned by Agribotix, LLC, Agribotix, LLC, a Colorado limited liability company (“Agribotix” ) to be utilized in their business of providing integrated agricultural drone solutions and drone-enabled software technologies and services for precision agriculture. AgEagle’s management believes that purchasing Agribotix’s primary product, FarmLens™, will benefit the Company and its shareholders by developing important vertically integrated products and services. FarmLens is a subscription cloud analytics service that processes data, primarily collected with a drone such as ours, and makes such data actionable by farmers and agronomists. FarmLens is currently sold by the Company as a subscription service and offered either standalone or in a bundle with drone platforms manufactured by leading drone providers like AgEagle, DJI and senseFly.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Accounting Policies	Note 2 – Summary of Significant Accounting Policies Basis of Presentation and Consolidation The consolidated financial statements include the accounts of AgEagle Aerial Systems, Inc. and its wholly-owned subsidiaries AgEagle Aerial, Inc., EnerJex Kansas, Inc., Black Sable Energy LLC and Black Raven Energy, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying interim unaudited condensed consolidated financial statements have been prepared under the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information, which included condensed consolidated financial statements of the Company and its wholly owned subsidiaries as of March 31, 2019. Accordingly, the condensed consolidated financial statements do not include all the information and notes necessary for a comprehensive presentation of the financial position and results of operations and should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2018 and included in the Form 10-K filed with the SEC on March 27, 2019. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2019. The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. Such consolidated financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“US GAAP”) in all material respects and have been consistently applied in preparing the accompanying consolidated financial statements. Use of Estimates - Fair Value of Financial Instruments - Cash and Cash Equivalents - . The Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 Our bank balances at time may exceed the FDIC limit. To date, the Company has not experienced any losses on its invested cash. Receivables and Credit Polic - The Company estimates an allowance for doubtful accounts based upon an evaluation of the current status of receivables, historical experience, and other factors as necessary. It is reasonably possible that the Company’s estimate of the allowance for doubtful accounts will change. The Company determined that no allowance was necessary as of March 31, 2019 and December 31, 2018. Inventorie Goodwill – When assessing goodwill for impairment, we have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform a two-step impairment test. If we conclude otherwise, then no further action is taken. We also have the option to bypass the qualitative assessment and only perform a quantitative assessment, which is the first step of the two-step impairment test. In the two-step impairment test, we measure the recoverability of goodwill by comparing a reporting unit’s carrying amount, including goodwill, to the estimated fair value of the reporting unit. Intangible Assets – Acquired in Business Combinations – Long-Lived Assets – Business Combinations Revenue Recognition and Concentration - As a result of the Agribotix acquisition, the Company now has an additional product line which is the sale of subscription services for use of the FarmLens Sales concentration information for customers comprising more than 10% of the Company’s total net sales is summarized below: Percent of total sales for three months ended March 31, Customers 2019 2018 Customer A 68.0 % — Customer B 29.1 % — Customer C — 31.8 % Customer D — 27.8 % Customer E — 19.1 % The table below reflects our revenue for the periods indicated by product mix. For three months ended March 31, Type 2019 2018 Product Sales $ 38,083 $ 29,191 Subscription Sales 7,910 — Total $ 45,993 $ 29,191 Vendor Concentration FarmLens Shipping Costs - Shipping costs for the three months ended March 31, 2019 and 2018 totaled $758 and $952, respectively . All shipping costs billed directly to the customer are directly offset to shipping costs resulting in a net expense to the Company which is included in cost of goods sold on the statement of operations. Advertising Costs Earnings Per Share Potentially Dilutive Securities Income Taxes - Share-Based Compensation Awards In January 2016, the FASB issued ASU 2016-01, Financial Instruments: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, FASB issued Account Standards Update 2016-02 – Leases In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-01, Business Combinations—Clarifying the definition of a business In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation Other recent accounting pronouncements issued by FASB did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Note 3 — Inventories Inventories consist of the following at: March 31, 2019 December 31, 2018 Raw materials $ 97,427 $ 109,826 Work-in-process 27,364 30,088 Finished goods 19,346 19,937 Gross inventory $ 144,136 $ 158,851 Less obsolete reserve (10,000 ) (10,369 ) Total $ 134,137 $ 149,482

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 4 — Property and Equipment Property and equipment consist of the following at: March 31, 2019 December 31, 2018 Property and equipment $ 116,313 $ 116,313 Less accumulated depreciation (91,171 ) (87,939 ) $ 25,142 $ 28,374 Depreciation expense for the three months ended March 31, 2019 and 2018 was $3,232 and $4,151, respectively.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 5 — Intangible Assets Intangible assets are recorded at cost and consist of the assets acquired in 2018 related to the acquisition of Agribotix. Amortization is computed using the straight-line method over the estimate useful life of the asset. We will annually assess intangible and other long-lived assets for impairment. Intangible assets were comprised of the following at March 31, 2019: Intangible Assets Estimated Life Gross Cost Accumulated Amortization Net Book Value Intellectual Property/Technology 5 yrs. $ 433,400 $ (50,563 ) $ 382,837 Customer Base 5 yrs. 72,000 (8,400 ) 63,600 Tradenames - Trademarks 5 yrs. 58,200 (6,790 ) 51,410 Non-compete agreement 4 yrs. 160,900 (23,465 ) 137,435 Carrying value as of March 31, 2019 $ 724,500 $ (89,218 ) $ 635,282 Amortization expense for the three months ended March 31, 2019 and 2018 was $41,836 and $0, respectively.

Promissory Note

Promissory Note	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Promissory Note	Note 6 — Promissory Note As part of the liabilities assumed from the EnerJex Merger, the Company recorded a promissory note for a principal amount of $125,556 and accrued interest of $4,171 payable over twelve months and maturing on March 27, 2019. The total amount outstanding as March 31, 2019 was $9,028, resulting in principal payments of $31,970 made in the first three months of 2019. The Company recorded interest of $462 for the three months ended March 31, 2019. The note was paid in full in April 2019.

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Equity	Note 7 – Equity Capital Stock Issuances During the three months ended March 31, 2019, Alpha Capital Anstalt converted 1,026 shares of Series C Preferred Stock into 1,900,000 shares of Common Stock at a conversion price of $0.54. Series D Preferred Stock On December 27, 2018, AgEagle Aerial Systems Inc.(the “Company”) entered into a Securities Purchase Agreement (the “Agreement”) with Alpha Capital Anstalt (the “Purchaser”). Pursuant to the terms of the Agreement, the Board of Directors of the Company (the “Board”) designated a new series of preferred stock, the Series D Preferred Stock, which is non-convertible and provides for an 8% annual dividend and is subject to optional redemption by the Company (the “Preferred Stock”). The Company issued 2,000 shares of Preferred Stock and a warrant to purchase 3,703,703 shares of common stock, par value $0.001 per share (the “Warrant,” and the shares of common stock underling the warrants, the “Warrant Shares”) for $2,000,000 in gross proceeds. The Company also entered into a Registration Rights Agreement, granting registration rights to the Purchaser with respect to the Warrant Shares. During the three months ended March 31, 2019, the Company recorded $40,000 of accrued dividends. The Agreement provides that upon a subsequent financing or financings with net proceeds of at least $500,000, the Company must exercise its optional redemption of the Preferred Stock (as more fully described below in Item 5.03) and apply any and all net proceeds from such financing(s) to the redemption in full of the Preferred Stock. The Preferred Stock is non-convertible, provides for an 8% annual dividend payable semi-annually and has liquidation rights senior to the Common Stock, but pari passu with the Company’s Series C Preferred Stock. The Preferred Stock has no voting rights, except that the Company shall not undertake certain corporate actions as set forth in the Certificate of Designation that would materially impact the holders of Preferred Stock without their consent. The Preferred Stock is subject to optional redemption by the Company at 115% of the stated value of the Preferred Stock outstanding at the time of such redemption, plus any accrued but unpaid dividends and all liquidated damages or other amounts due. Any such optional redemption may only be exercised after giving notice and upon satisfaction of certain equity conditions set forth in the Certificate of Designation, including (i) all dividends, liquidated damages and other amounts have been paid; (ii) there is an effective registration statement covering the Warrant Shares, or the Warrant Shares can be exercised through a cashless exercise without restriction under Rule 144, (iii) the Warrant Shares are listed on an exchange, (iv) the holder is not in possession of material, non-public information, (v) there is a sufficient number of authorized shares for issuance of all Warrant Shares, and (vi) for each trading day in a period of 20 consecutive trading days prior to the redemption date, the daily trading volume for the Common Stock on the principal trading market exceeds $200,000 per trading day. Note 7 – Equity-Continued Series C Preferred Stock On November 21, 2017, Alpha Capital Anstalt (“Alpha”) signed a binding commitment letter EnerJex to provide prior to or at the closing of the Merger a minimum of $4 million in new equity capital (the “Private Placement”). The Private Placement was consummated on March 26, 2018. In connection with the Private Placement, Alpha purchased an additional 4,000 shares of Series C Preferred Stock at a purchase price of $1,000 per share for total aggregate consideration of $4 million. At the time of private placement the Series C Preferred Stock was convertible into 2,612,245 shares of our Common Stock. In addition, as consideration for their funding commitment, Alpha received a fee equal to 408,552 shares of our Common Stock. Each share of Series C Preferred Stock is convertible into a number of shares of our Common Stock equal to the quotient determined by dividing (x) the stated value of $1,000 per share, by (y) a conversion price of $1.53. Until the volume weighted average price of our Common Stock on NYSE exceeds $107.50 with average trading volume of 200,000 shares per day for ten consecutive trading days, the conversion price of our Series C Preferred Stock is subject to full-ratchet, anti-dilution price protection. Under that provision, if, while that full-ratchet, anti-dilution price protection is in effect, we issue shares of our Common Stock at a price per share (the “Dilutive Price”) that is less than the conversion price, then the conversion price of our Series C Preferred Stock is automatically reduced to be equal to the Dilutive Price. The effect of that reduction is that, upon the issuance of shares of Common Stock at a Dilutive Price, the Series C Preferred Stock would be convertible into a greater number of shares of our Common Stock. O ptions Issued The Board of Directors of the Company unanimously approved a proposal to adopt and approve the EnerJex 2017 Omnibus Equity Incentive Plan (the “Plan”). The Board of Directors recommended that this proposal be presented to the EnerJex shareholders for approval. The Plan became effective on March 26, 2018, the date of the Merger, and is a comprehensive incentive compensation plan under which the Company can grant equity-based and other incentive awards to officers, employees and directors of, and consultants and advisers to, the Company. The purpose of the Plan is to help the Company attract, motivate and retain such persons and thereby enhance shareholder value. The Company has reserved a total of 2,000,000 shares of Common Stock for issuance as or under awards to be made under the Plan. To the extent that an award lapses, expires, is canceled, is terminated unexercised or ceases to be exercisable for any reason, or the rights of its holder terminate, any shares subject to such award shall again be available for the grant of a new award. The Plan shall continue in effect, unless sooner terminated, until the tenth (10th) anniversary of the date on which it is adopted by the Board of Directors (except as to awards outstanding on that date). The Board of Directors in its discretion may terminate the Plan at any time with respect to any shares for which awards have not theretofore been granted; provided, however, that the Plan’s termination shall not materially and adversely impair the rights of a holder, without the consent of the holder, with respect to any award previously granted. The number of shares for which awards which are options or SARs may be granted to a participant under the Plan during any calendar year is limited to 500,000. For purposes of qualifying awards as “performance-based” compensation under Code Section 162(m), the maximum amount of cash compensation that may be paid to any person under the Plan in any single calendar year shall be $500,000. During the three months ended March 31, 2019, the Company issued options to purchase 540,000 shares of Common Stock to directors and employees of the Company at the fair value exercise price ranging from $0.41 to $0.54 per share expiring on March 30, 2024 to March 31, 2029. The Company determined the fair-market value of the options to be $156,134. In connection with the issuance of these options, the Company recognized $1,944 in stock compensation expense for the three months ended March 31, 2019. During the year ended December 31, 2018, the Company issued options to purchase 534,598 shares of Common Stock to directors and employees of the Company at the fair value exercise price ranging from $0.51 to $4.33 per share expiring between March 30, 2023 to December 17, 2028. The Company determined the fair-market value of the options to be $449,491. In connection with the issuance of these options, the Company recognized $57,627 stock compensation expense for the three months ended March 31, 2019. On October 4, 2017, AgEagle Sub issued options to purchase 927,774 shares of Common Stock to employees and directors, that were approved by the board at an exercise price of $0.06 per share. These options were assumed by the Company in the Merger. In connection with the issuance of these options to employees and directors for the three months ended March 31, 2019 and 2018, the Company recorded $1,349 and $2,491, respectively of stock compensation expense. The fair value of options granted during the three months ended March 31, 2019 were determined using the Black-Scholes option valuation model. The expected term of options granted is based on the simplified method in accordance with Securities and Exchange Commission Staff Accounting Bulletin 107 and represents the period of time that options granted are expected to be outstanding. The Company makes assumptions with respect to expected stock price volatility based on the average historical volatility of peers with similar attributes. In addition, the Company determines the risk-free rate by selecting the U.S. Treasury with maturities similar to the expected terms of grants, quoted on an investment basis in effect at the time of grant for that business day. The significant weighted average assumptions relating to the valuation of the Company’s stock options granted during the three months ended March 31, 2019 were as follows: March 31, 2019 Dividend yield 0% Expected life 3.5-6.5 Years Expected volatility 82.4% Risk-free interest rate 2.23% A summary of the options activity for the three months ended March 31, 2019 is as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2019 1,494,158 $ 0.46 6.93 Years $ 409,678 Granted 540,000 0.42 8.68 Years — Exercised/Forfeited (70,438 ) 0.49 — Years — Outstanding at March 31, 2019 1,963,720 0.45 7.19 Years 256,049 Exercisable at period end 1,101,835 $ 0.26 6.75 Years $ 256,049 For options granted during the three months ended March 31, 2019, the fair value of the Company’s stock was based upon the close of market price on the date of grant. The future expected stock-based compensation expense expected to be recognized in future years is $383,614, through March 29, 2022. Intrinsic value is measured using the fair market value at the date of exercise (for shares exercised) or at March 31, 2019 (for outstanding options), less the applicable exercise price. A summary of the options activity for the three months ended March 31, 2018 is as follows: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term Value Outstanding at January 1, 2018 1,134,830 $ 0.06 8.5 years $ — Granted 49,500 4.33 5.0 years — Outstanding at March 31, 2018 1,184,330 $ 4.19 4.0 years $ — Exercisable at end of the year 786,914 $ 0.06 4.0 years $ —

Warrants to Purchase Common Sto

Warrants to Purchase Common Stock	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Warrants to Purchase Common Stock	Note 8 – Warrants to Purchase Common Stock As of March 31, 2019, the Company had outstanding, in connection with the issuance of debentures in 2017, warrants to purchase 828,221 shares of the Company’s Common Stock at an exercise price of $1.51 with expiration on August 2, 2024. On December 27, 2018, the Company issued 2,000 shares of Preferred Stock and a warrant (the “Warrant”) to purchase 3,703,703 shares of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”), for $2,000,000 in gross proceeds. The shares of Common Stock underling the Warrant are referred to as the “Warrant Shares”. The Company also entered into a registration rights agreement (the “Registration Rights Agreement”) granting registration rights to the Purchaser with respect to the Warrant Shares. The Warrant is exercisable for a period of five years through December 26, 2023, at an exercise price equal to $0.54 per share, and is subject to customary adjustments for stock splits dividend, rights offerings, pro rata distributions and fundamental transactions. In addition, in the event the Company undertakes a subsequent equity financing or financings at an effective price per share that is less than $0.54, the exercise price of the Warrant shall be reduced to the lower price. The Warrant provides that the Warrant holder shall have a “Beneficial Ownership Limitation” equal to 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Warrant holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation, as provided for in the Warrant. All warrants outstanding as of March 31, 2019 are scheduled to expire between December 26, 2023 and October 21, 2024. A summary of activity related to warrants for the three months ended March 31, 2019 follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at January 1, 2019 4,531,924 $ 0.72 5.05 Outstanding at March 31, 2019 4,531,924 0.72 5.05 Exercisable at March 31, 2019 4,531,924 0.72 5.05 A summary of activity related to warrants for the three months ended March 31, 2018 follows: Shares Weighted- Average Exercise Price ($) Weighted-Average Remaining Contractual Term Outstanding at January 1, 2018 828,221 $ 1.51 — Outstanding at March 31, 2018 828,221 $ 1.51 6.10 Exercisable at March 31, 2018 828,221 $ 1.51 6.10

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 – Commitments and Contingencies Operating Leases The Company leases office space in Neodesha, Kansas for $500 a month. The lease terminates on September 30, 2019 with a year to year option to renew upon approval by the city commission of Neodesha. Rent expense was $1,500 and $900 for the three months ended March 31, 2019 and 2018, respectively. As a result of the Agribotix acquisition, the Company assumed a lease for offices in Boulder, Colorado for $2,000 a month. The lease ends on May 31, 2019 and has an option to terminate at any time with a 30-day prior notice period. Rent expense was $6,000 for the three months ended March 31, 2019 and 2018, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 10 — Related Party Transactions The following reflects the related party transactions during the three months ended March 31, 2019 and 2018. The Company’s Chief Financial Officer, Nicole Fernandez-McGovern, is one of the principals of Premier Financial Filings, a full-service financial printer. Premier Financial Filings provided contracted financial services to the Company and their related expenses have been included within general and administrative expenses. For the three months ended March 31, 2019 and 2018, Premier Financial Filings provided services to the Company resulting in fees of $2,674 and $110, respectively. The fee incurred during the three months ended March 31, 2019 is included in accounts payable as of March 31, 2019.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events On May 3, 2019, AgEagle Aerial Systems Inc. (the “Company”), entered into a Consulting Agreement with GreenBlock Capital LLC (“Consultant”), to serve as strategic advisor and consultant to the Company with respect to the development of business opportunities and the implementation of business strategies to be agreed to by both parties (the “Services”). The extent of the Services will be set forth in separate scopes of work, from time to time, to be prepared and mutually agreed to by the parties. As compensation for the Services under the terms of the agreement, Consultant shall receive (i) $25,000 per month during the term of the agreement, (ii) 500,000 shares of restricted stock upon execution of the agreement, and (iii) up to 2,500,000 shares of restricted stock upon the achievement of to-be-determined milestones. The Consultant was previously engaged by the Company between March 2015 and August 2016 to provide consulting services. The Consultant beneficially owns approximately 5.86% of the shares of the Company’s common stock issued and outstanding shares, and holds options to purchase 207,055 shares of the Company’s common stock, exercisable until January 14, 2021 at an exercise price of $0.06 per share. On April 15, 2019, AgEagle Aerial Systems, Inc. (the “Company”), received notification from Mr. Corbett Kull that effective immediately he is resigning as a director of the Company. Mr. Kull did not serve on any of the committees of the Board of Directors (the “Board”). Mr. Kull’s resignation was not due to a disagreement with the Company on any matter relating to the Company’s operations, policies or practices. As a result of Mr. Kull’s resignation, the Board currently consists of four directors, three of whom are independent. The Company is not looking for a replacement for Mr. Kull at this time.

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The consolidated financial statements include the accounts of AgEagle Aerial Systems, Inc. and its wholly-owned subsidiaries AgEagle Aerial, Inc., EnerJex Kansas, Inc., Black Sable Energy LLC and Black Raven Energy, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying interim unaudited condensed consolidated financial statements have been prepared under the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information, which included condensed consolidated financial statements of the Company and its wholly owned subsidiaries as of March 31, 2019. Accordingly, the condensed consolidated financial statements do not include all the information and notes necessary for a comprehensive presentation of the financial position and results of operations and should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2018 and included in the Form 10-K filed with the SEC on March 27, 2019. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2019. The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. Such consolidated financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“US GAAP”) in all material respects and have been consistently applied in preparing the accompanying consolidated financial statements.
Use of estimates	Use of Estimates -
Fair Value of Financial Instruments	Fair Value of Financial Instruments -
Cash and Cash Equivalents	Cash and Cash Equivalents - . The Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 Our bank balances at time may exceed the FDIC limit. To date, the Company has not experienced any losses on its invested cash.
Receivables and Credit Policy	Receivables and Credit Polic - The Company estimates an allowance for doubtful accounts based upon an evaluation of the current status of receivables, historical experience, and other factors as necessary. It is reasonably possible that the Company’s estimate of the allowance for doubtful accounts will change. The Company determined that no allowance was necessary as of March 31, 2019 and December 31, 2018.
Inventories	Inventorie
Goodwill	Goodwill – When assessing goodwill for impairment, we have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform a two-step impairment test. If we conclude otherwise, then no further action is taken. We also have the option to bypass the qualitative assessment and only perform a quantitative assessment, which is the first step of the two-step impairment test. In the two-step impairment test, we measure the recoverability of goodwill by comparing a reporting unit’s carrying amount, including goodwill, to the estimated fair value of the reporting unit.
Intangible Assets	Intangible Assets – Acquired in Business Combinations –
Long-Lived Assets	Long-Lived Assets –
Business Combinations	Business Combinations
Revenue Recognition and Concentration	Revenue Recognition and Concentration - As a result of the Agribotix acquisition, the Company now has an additional product line which is the sale of subscription services for use of the FarmLens Sales concentration information for customers comprising more than 10% of the Company’s total net sales is summarized below: Percent of total sales for three months ended March 31, Customers 2019 2018 Customer A 68.0 % — Customer B 29.1 % — Customer C — 31.8 % Customer D — 27.8 % Customer E — 19.1 % The table below reflects our revenue for the periods indicated by product mix. For three months ended March 31, Type 2019 2018 Product Sales $ 38,083 $ 29,191 Subscription Sales 7,910 — Total $ 45,993 $ 29,191
Vendor Concentration	Vendor Concentration FarmLens
Shipping Costs	Shipping Costs -
Advertising Costs	Advertising Costs
Earnings Per Share	Earnings Per Share
Potentially Dilutive Securities	Potentially Dilutive Securities
Income Taxes	Income Taxes -
Share-Based Compensation Awards	Share-Based Compensation Awards In January 2016, the FASB issued ASU 2016-01, Financial Instruments: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, FASB issued Account Standards Update 2016-02 – Leases In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-01, Business Combinations—Clarifying the definition of a business In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation

Summary of Accounting Policie_2

Summary of Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Sales concentration information	Sales concentration information for customers comprising more than 10% of the Company’s total net sales is summarized below: Percent of total sales for three months ended March 31, Customers 2019 2018 Customer A 68.0 % — Customer B 29.1 % — Customer C — 31.8 % Customer D — 27.8 % Customer E — 19.1 %
Revenue indicated by product mix	The table below reflects our revenue for the periods indicated by product mix. For three months ended March 31, Type 2019 2018 Product Sales $ 38,083 $ 29,191 Subscription Sales 7,910 — Total $ 45,993 $ 29,191

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following at: March 31, 2019 December 31, 2018 Raw materials $ 97,427 $ 109,826 Work-in-process 27,364 30,088 Finished goods 19,346 19,937 Gross inventory $ 144,136 $ 158,851 Less obsolete reserve (10,000 ) (10,369 ) Total $ 134,137 $ 149,482

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consist of the following at: March 31, 2019 December 31, 2018 Property and equipment $ 116,313 $ 116,313 Less accumulated depreciation (91,171 ) (87,939 ) $ 25,142 $ 28,374

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets were comprised of the following at March 31, 2019: Intangible Assets Estimated Life Gross Cost Accumulated Amortization Net Book Value Intellectual Property/Technology 5 yrs. $ 433,400 $ (50,563 ) $ 382,837 Customer Base 5 yrs. 72,000 (8,400 ) 63,600 Tradenames - Trademarks 5 yrs. 58,200 (6,790 ) 51,410 Non-compete agreement 4 yrs. 160,900 (23,465 ) 137,435 Carrying value as of March 31, 2019 $ 724,500 $ (89,218 ) $ 635,282

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The significant weighted average assumptions relating to the valuation of the Company’s stock options granted during the three months ended March 31, 2019 were as follows: March 31, 2019 Dividend yield 0% Expected life 3.5-6.5 Years Expected volatility 82.4% Risk-free interest rate 2.23%
Summary of Stock Options	A summary of the options activity for the three months ended March 31, 2019 is as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2019 1,494,158 $ 0.46 6.93 Years $ 409,678 Granted 540,000 0.42 8.68 Years — Exercised/Forfeited (70,438 ) 0.49 — Years — Outstanding at March 31, 2019 1,963,720 0.45 7.19 Years 256,049 Exercisable at period end 1,101,835 $ 0.26 6.75 Years $ 256,049 A summary of the options activity for the three months ended March 31, 2018 is as follows: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term Value Outstanding at January 1, 2018 1,134,830 $ 0.06 8.5 years $ — Granted 49,500 4.33 5.0 years — Outstanding at March 31, 2018 1,184,330 $ 4.19 4.0 years $ — Exercisable at end of the year 786,914 $ 0.06 4.0 years $ —

Warrants to Purchase Common S_2

Warrants to Purchase Common Stock (Tables)	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Summary of activity related to warrants	A summary of activity related to warrants for the three months ended March 31, 2019 follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at January 1, 2019 4,531,924 $ 0.72 5.05 Outstanding at March 31, 2019 4,531,924 0.72 5.05 Exercisable at March 31, 2019 4,531,924 0.72 5.05 A summary of activity related to warrants for the three months ended March 31, 2018 follows: Shares Weighted- Average Exercise Price ($) Weighted-Average Remaining Contractual Term Outstanding at January 1, 2018 828,221 $ 1.51 — Outstanding at March 31, 2018 828,221 $ 1.51 6.10 Exercisable at March 31, 2018 828,221 $ 1.51 6.10

Summary of Accounting Policie_3

Summary of Accounting Policies (Details) - Sales Revenue, Net [Member]	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Customer A
Concentration percentage	68.00%
Customer B
Concentration percentage	29.10%
Customer C
Concentration percentage		31.80%
Customer D
Concentration percentage		27.80%
Customer E
Concentration percentage		19.10%

Summary of Accounting Policie_4

Summary of Accounting Policies (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 45,993	$ 29,191
Product [Member]
Revenues	38,083	29,191
Subscription [Member]
Revenues	$ 7,910	$ 0

Summary of Accounting Policie_5

Summary of Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Summary Of Accounting Policies [Line Items]
Cash equivalents	$ 0		$ 0
FDIC limit	250,000
Estimated obsolescence and shrinkage of inventory	10,000	$ 10,369
Shipping Costs	758	952
Impairment losses	0	0
Advertising costs	$ 0	$ 906
Warrant [Member]
Summary Of Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,531,924	828,200
Option [Member]
Summary Of Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,756,665	1,184,300
Series C Preferred Stock [Member]
Summary Of Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,636
Common Stock [Member]
Summary Of Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,733,067	4,498,002
Series B And C Preferred Stock [Member]
Summary Of Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		6,887

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 97,427	$ 109,826
Work-in-process	27,364	30,088
Finished goods	19,346	19,937
Gross Inventory	144,136	158,851
Less obsolete reserve	(10,000)	(10,369)
Total inventory	$ 134,137	$ 149,482

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property and equipment	$ 116,313	$ 116,313
Less accumulated depreciation	(91,171)	(87,939)
Property and equipment, net	$ 25,142	$ 28,374

Property and Equipment (Detai_2

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3,232	$ 4,151

Intangible Assets (Details)

Intangible Assets (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Gross Cost	$ 724,500
Accumulated Amortization	(89,218)
Net Book Value	$ 635,282
Intellectual Property/Technology [Member]
Estimated Life	5 years
Gross Cost	$ 433,400
Accumulated Amortization	(50,563)
Net Book Value	$ 382,837
Customer Base [Member]
Estimated Life	5 years
Gross Cost	$ 72,000
Accumulated Amortization	(8,400)
Net Book Value	$ 63,600
Trademarks and Trade Names [Member]
Estimated Life	5 years
Gross Cost	$ 58,200
Accumulated Amortization	(6,790)
Net Book Value	$ 51,410
Non-compete agreement [Member]
Estimated Life	4 years
Gross Cost	$ 160,900
Accumulated Amortization	(23,465)
Net Book Value	$ 137,435

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 41,836	$ 0

Promissory Note (Details Narrat

Promissory Note (Details Narrative) - EnerJex	3 Months Ended
	Mar. 31, 2019USD ($)shares
Debt Instrument [Line Items]
Convertible Notes Payable	$ 9,028
Interest expenses	$ 462
Common stock | shares	787,891
Maturity date	Mar. 27, 2019
Principal payments	$ 31,970
Accrued Interest
Debt Instrument [Line Items]
Conversion of debt amount	4,171
Principal
Debt Instrument [Line Items]
Conversion of debt amount	$ 125,556

Equity (Details)

Equity (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Dividend yield		0.00%
Expected volatility		82.40%
Risk-free interest rate		2.23%
Minimum [Member]
Expected life	3 years 6 months
Maximum [Member]
Expected life	6 years 6 months

Equity (Details 1)

Equity (Details 1) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Options
Options Outstanding, Beginning Balance	1,494,158	1,134,830	1,134,830
Options Granted	540,000	49,500
Options Exercised/Forfeited	(70,438)
Options Outstanding, Ending Balance	1,963,720	1,184,330	1,494,158
Options Exercisable at period end	1,101,835	786,914
Weighted Avg. Exercise Price
Weighted Avg. Exercise Price Outstanding, Beginning Balance	$ 0.46	$ 0.06	$ 0.06
Weighted Avg. Exercise Price Granted	0.42	4.33
Weighted Avg. Exercise Price Exercised/Forfeited	0.49
Weighted Avg. Exercise Price Outstanding, Ending balance	0.45	4.19	$ 0.46
Weighted Avg. Exercise Price Exercisable at period end	$ 0.26	$ 0.06
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term Outstanding	6 years 11 months 4 days	8 years 6 months
Weighted Average Remaining Contractual Term Granted	8 years 8 months 5 days	5 years
Weighted Average Remaining Contractual Term Outstanding at end	7 years 2 months 8 days	4 years
Weighted Average Remaining Contractual Term Exercisable at end	6 years 9 months	4 years
Aggregate Intrinsic Value
Aggregate Intrinsic Value Outstanding, Beginning Balance	$ 409,678	$ 0	$ 0
Aggregate Intrinsic Value Granted	0	0
Aggregate Intrinsic Value Exercised/Forfeited	0
Aggregate Intrinsic Value Outstanding, at end	256,049	0	$ 409,678
Aggregate Intrinsic Value Exercisable at period end	$ 256,049	$ 0

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Oct. 04, 2015	Nov. 21, 2017	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Option available under plan			2,000,000
Cash compensation			$ 500,000
Option granted			540,000	49,500
Term			8 years 8 months 5 days	5 years
Exercise price			$ 0.42	$ 4.33
Stock-based compensation expense			$ 383,614
Warrants exercisable			3,703,703
Warrant term			5 years
Warrant Exercise price			$ 0.54
Employees and directors Two [Member]
Option to purchase stock			$ 540,000
Fair-value of options			156,134
Stock-based compensation expense			$ 1,944
Employees and directors Two [Member] | Minimum [Member]
Exercise price			$ 0.41
Expiration date			Mar. 30, 2024
Employees and directors Two [Member] | Maximum [Member]
Exercise price			$ 0.54
Expiration date			Mar. 31, 2029
Employees and directors one [Member]
Option to purchase stock					$ 534,598
Fair-value of options					$ 449,491
Stock-based compensation expense			$ 57,627
Employees and directors one [Member] | Minimum [Member]
Exercise price					$ 0.51
Expiration date					Mar. 30, 2023
Employees and directors one [Member] | Maximum [Member]
Exercise price					$ 4.33
Expiration date					Dec. 17, 2028
Employees and directors [Member]
Option to purchase stock	$ 927,774
Exercise price	$ 0.06
Stock-based compensation expense			$ 1,349	$ 2,491
Alpha Capital Anstalt [Member] | Series C Convertible Preferred Stock [Member]
Common stock issued upon conversion of preferred stock (shares)		408,552	1,611,082
Preferred stock converted (shares)			1,900,000
Common stock issued upon conversion of preferred stock (shares)		$ 2,612,245

Warrants to Purchase Common S_3

Warrants to Purchase Common Stock (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Warrants
Warrants Outstanding, Beginning Balance	4,531,924	828,221
Warrants Outstanding, Ending Balance	4,531,924	828,221
Warrants Exercisable at end	4,531,924	828,221
Weighted Avg. Exercise Price
Weighted Avg. Exercise Price Outstanding, Beginning Balance	$ 0.72	$ 1.51
Weighted Avg. Exercise Price Outstanding, Ending balance	0.72	1.51
Weighted Avg. Exercise Price Exercisable at end	$ 0.72	$ 1.51
Weighted-Average Remaining Contractual Term
Weighted-Average Remaining Contractual Term Outstanding at beginning	5 years 18 days
Weighted-Average Remaining Contractual Term Outstanding at beginning	5 years 18 days	6 years 1 month 6 days
Weighted-Average Remaining Contractual Term Exercisable at end	5 years 18 days	6 years 1 month 6 days

Warrants to Purchase Common S_4

Warrants to Purchase Common Stock (Details Narrative)	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Notes to Financial Statements
Number of warrants purchased | shares	828,221
Exercise price | $ / shares	$ 1.51
Warrants exercisable | shares	3,703,703
Proceeds from warrants | $	$ 2,000,000
Warrant term	5 years
Warrant Exercise price | $ / shares	$ 0.54
Warrants expiration date	Aug. 2, 2024

Commitments & Contingencies (De

Commitments & Contingencies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense	$ 1,500	$ 900
Periodic payment	$ 500
Lease termination date	Sep. 30, 2019
Agribotix
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense	$ 6,000	$ 6,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
General and administrative expenses	$ 474,902	$ 40,853
Premier Financial Filings | Chief Financial Officer | Nicole Fernandez-McGovern
General and administrative expenses	$ 2,674	$ 110

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	May 03, 2019	Aug. 31, 2016
Consulting Agreement [Member]
Exercise price		$ 0.06
Option to purchase stock		$ 207,055
Expiration date		Jan. 14, 2021
Subsequent Event [Member] | Alpha Capital Anstalt [Member] | Series C Convertible Preferred Stock [Member]
Subsequent Event, Description	Consultant shall receive (i) $25,000 per month during the term of the agreement, (ii) 500,000 shares of restricted stock upon execution of the agreement, and (iii) up to 2,500,000 shares of restricted stock upon the achievement of to-be-determined milestones