Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES (Details Narrative)

v3.20.4
COMMITMENTS AND CONTINGENCIES (Details Narrative)
 3 Months Ended 12 Months Ended
Oct. 25, 2019
ft²
Feb. 26, 2019
USD ($)
ft²
Aug. 21, 2017
USD ($)
ft²
Dec. 31, 2019
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Jan. 02, 2019
USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Operating lease liability         $ 8,097,228    
Operating lease, right of use asset       $ 5,818,983 5,248,525 $ 5,818,983  
Increase in operating lease liabilities         (595,745) 971,696  
Lease expenses         $ 1,240,473 $ 1,025,899  
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, initial term     7 years        
Leasehold improvements     $ 1,080,000        
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]              
Leasehold improvements   $ 991,000          
Irrevocable letter of credit   369,900          
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   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          
February 2019 Lease Agreement [Member] | Not In Default On Third Anniversary [Member]              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Irrevocable letter of credit   $ 277,425          
February 2019 Lease Agreement [Member] | Not In Default On Fourth Anniversary [Member]              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Irrevocable letter of credit   $ 184,950          
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      
Increase in right of use assets       $ 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