Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Details Narrative)

v3.20.2
COMMITMENTS AND CONTINGENCIES (Details Narrative)
 3 Months Ended 9 Months Ended
Oct. 25, 2019
ft²
Feb. 26, 2019
USD ($)
ft²
Aug. 21, 2017
USD ($)
ft²
Sep. 30, 2020
USD ($)
Dec. 31, 2019
USD ($)
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Jan. 02, 2019
USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Operating lease liability       $ 8,326,229     $ 8,326,229    
Operating lease, right of use asset       5,396,248 $ 5,818,983   5,396,248    
Increase in operating lease liabilities             (366,744) $ 986,401  
Lease expenses       $ 310,118   $ 307,182 $ 930,354 $ 814,527  
Accounting Standards Update 2016-02 [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Operating lease liability                 $ 3,811,000
Operating lease, right of use asset                 $ 2,400,000
August 2017 Lease Agreement [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Area of office space | ft²     32,733            
Operating lease, term     seven years            
Leasehold improvements     $ 1,080,189            
Irrevocable letter of credit     400,000            
Unsecured letter of credit     400,000            
August 2017 Lease Agreement [Member] | First Year [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Rent expense     470,000            
August 2017 Lease Agreement [Member] | Seventh Year [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Rent expense     908,000            
August 2017 Lease Agreement [Member] | Third Anniversary [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Irrevocable letter of credit     300,000            
August 2017 Lease Agreement [Member] | Fourth Anniversary [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Irrevocable letter of credit     $ 200,000            
February 2019 Lease Agreement [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Operating lease liability   $ 855,000              
Operating lease, right of use asset   $ 855,000              
Percentage of incremental borrowing rate from present value of lease   9.00%              
Operating lease, option to extend   Per ASC 842, the February 2019 Lease Agreement constitutes a modification as it extends the original lease term and increases the scope of the lease (additional space provided under the amendment), which requires evaluation of the remeasurement of the lease liability and corresponding ROU asset. Accordingly, the Company reassessed the classification of the Leased Premises and remeasured the lease liability on the basis of the extended lease term using the 20 additional monthly rent payments and the incremental borrowing rate at the effective date of the modification of 9%.              
February 2019 Lease Agreement [Member] | New Premises [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Area of office space | ft²   30,023              
Operating lease liability   $ 2,700,000              
Operating lease, right of use asset   $ 2,700,000              
February 2019 Lease Agreement [Member] | Total Premises [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Area of office space | ft²   62,756              
October 2019 Lease Amendment [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Percentage of incremental borrowing rate from present value of lease 8.00%                
Operating lease, option to extend The October 2019 Lease Amendment constitutes a modification as it extends the original lease term and increases the scope of the lease (additional space provided under the amendment), which requires evaluation of the remeasurement of the lease liability and corresponding ROU asset. The additional space did not result in a separate contract as the rent increase was determined not to be commensurate with the standalone price for the additional right of use. Accordingly, the Company reassessed the classification of the Amended Total Premises, which resulted in operating classification, and remeasured the lease liability on the basis of the extended lease term using the additional monthly rent payments and the incremental borrowing rate at the effective date of the modification of 8%.                
Increase in operating lease liabilities         $ 381,000        
October 2019 Lease Amendment [Member] | Total Premises [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Area of office space | ft² 63,256                
October 2019 Lease Amendment [Member] | Amended Premises [Member]                  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                  
Area of office space | ft² 500