Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.20.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of Estimated Useful Life of Property and Equipment

The estimated useful lives of property and equipment are generally as follows:

 

    Years  
Office furniture and fixtures     4  
Computer equipment     4  
Rental equipment     4  
Appliques     10  
Website development     2  

Schedule of Dilutive Common Stock Equivalents

The following are dilutive common stock equivalents during the year ended:

 

    March 31, 2020     March 31, 2019  
Convertible preferred stock     -       147,649  
Convertible notes payable (1)     7,936,740       -  
Stock Options     39,044       79,044  
Stock Warrants     4,000       4,000  
Total     7,979,784       230,693  

 

(1) 7,936,740 shares of our common stock issuable upon conversion of $793,674 of Convertible Notes Payable as of March 31, 2020, not accounting for 4.99% beneficial ownership limitations.
Schedule of Adjustment to Net Income (loss) Available to Common Stockholders

The following are the adjustment to the net income (loss) available to common stockholders during the period ended:

 

    Three Months Ended
March 31, 2020		     Year Ended
December 31, 2019		  
Net loss   $ (284,860 )   $ (1,379,756 )
Preferred shares redemption adjustment   $ -     $ 201,924  
Net loss available to common shareholders   $ (284,860 )   $ (1,177,832 )
                 
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS                
Weighted number of common shares outstanding – basic & diluted     121,216       106,175  
Loss applicable to common shareholders per share   $ (2.43 )   $ (11.09 )