Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2019
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 Reconciliation of Derivative Liability Measured at Fair Value
    Conversion feature
derivative liability
 
Balance at January 1, 2019     -  
Derivative liability     65,000  
Change in fair value included in earnings     36,925  
Balance at March 31, 2019   $ 101,925  
Derivative Liability     (65,000 )
Change in fair value included in earnings     (36,925 )
Balance at June 30, 2019   $ -  
Schedule of Dilutive Common Stock Equivalents

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

 

    June 30, 2019     June 30, 2018  
Convertible preferred stock     27,589       2,214,729  
Stock options     585,667       585,667  
Stock warrants     60,000       60,000  
Total     673,256       2,860,396  
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
June 30, 2019
    Three Months
Ended
June 30, 2018
    Six Months
Ended
June 30, 2019
    Six Months
Ended
June 30, 2018
 
Net loss   $ (387,624 )   $ (123,620 )   $ (695,247 )   $ (269,078 )
Preferred shares redemption adjustment   $ 201,924     $ -     $ 201,924     $ -  
Net loss available to common shareholders   $ (185,700 )   $ -     $ (493,323 )   $ -  
                                 
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS                                
Weighted number of common shares outstanding – basic & diluted     1,549,377       936,519       1,153,282       733,865  
Loss applicable to common shareholders per share   $ (0.12 )   $ (0.14 )   $ (0.43 )   $ (0.38 )