Summary of Significant Accounting Policies (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Accounting Policies [Abstract] |
|
| Summary of Investments |
The following summarizes our investments as
of September 30, 2019 and December 31, 2018:
| |
|
September 30, 2019 |
|
|
December 31, 2018 |
|
| |
|
|
|
|
|
|
| Short-term investments: |
|
|
|
|
|
|
|
|
| Available- for-sale investments |
|
$ |
3,032,399 |
|
|
$ |
2,878,664 |
|
|
| Schedule of Unrealized Gains on Investment |
The following is a summary of the unrealized
gains, and fair value by investment type as of September 30, 2019 and December 31, 2018:
| |
|
September 30, 2019 |
|
| |
|
Gross
Unrealized Gains |
|
|
Fair Value |
|
| Fixed income |
|
$ |
108,169 |
|
|
$ |
3,032,399 |
|
| |
|
|
|
|
|
|
|
|
| |
|
December 31, 2018 |
|
| |
|
Gross
Unrealized Gains |
|
|
Fair Value |
|
| Fixed income |
|
$ |
- |
|
|
$ |
2,878,664 |
|
|
| Schedule of Revenue Recognition by Contract |
The following table summarizes revenue recognized
under ASC 606 in the condensed consolidated statements of operations:
| |
|
For The Three Months Ended |
|
|
For The Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues - Recognized at a Point in Time: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Charging service revenue - company-owned charging stations |
|
$ |
317,990 |
|
|
$ |
320,388 |
|
|
$ |
937,870 |
|
|
$ |
927,485 |
|
| Product sales |
|
|
319,254 |
|
|
|
102,958 |
|
|
|
704,472 |
|
|
|
381,557 |
|
| Other |
|
|
34,148 |
|
|
|
36,135 |
|
|
|
122,408 |
|
|
|
131,795 |
|
| Total Revenues - Recognized at a Point in Time |
|
|
671,392 |
|
|
|
459,481 |
|
|
|
1,764,750 |
|
|
|
1,440,837 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues - Recognized Over a Period of Time: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Network fees and other |
|
|
88,516 |
|
|
|
80,639 |
|
|
|
275,137 |
|
|
|
258,283 |
|
| Total Revenues - Recognized Over a Period of Time |
|
|
88,516 |
|
|
|
80,639 |
|
|
|
275,137 |
|
|
|
258,283 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenue Under ASC 606 |
|
$ |
759,908 |
|
|
$ |
540,120 |
|
|
$ |
2,039,887 |
|
|
$ |
1,699,120 |
|
|
| Schedule of Basic and Diluted Earnings Per Share |
For the three and nine months ended September
30, 2019 and 2018, the Company calculated the potential diluted earnings per share in accordance with ASC 260, as follows:
| |
|
For the Three Months Ended
September 30, |
|
|
For the Nine Months Ended
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss attributable to common shareholders (numerator for basic earnings per share) |
|
$ |
(2,622,989 |
) |
|
$ |
(2,148,631 |
) |
|
$ |
(6,753,836 |
) |
|
$ |
(25,231,361 |
) |
| Less: change in fair value of derivative liabilities and other accrued liabilities |
|
|
- |
|
|
|
(1,040,273 |
) |
|
|
- |
|
|
|
(2,897,095 |
) |
| Adjusted net loss attributable to common shareholders (denominator for basic earnings per share) |
|
$ |
(2,622,989 |
) |
|
$ |
(3,188,904 |
) |
|
$ |
(6,753,836 |
) |
|
$ |
(28,128,456 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares outstanding (denominator for basic earnings per share) |
|
|
26,242,567 |
|
|
|
24,867,869 |
|
|
|
26,216,266 |
|
|
|
18,916,432 |
|
| Plus: incremental shares from assumed common stock issuance |
|
|
- |
|
|
|
424,681 |
|
|
|
- |
|
|
|
- |
|
| Plus: incremental shares from assumed conversion of debt |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
196,994 |
|
| Adjusted weighted average shares outstanding (denominator for diluted earnings per share) |
|
|
26,242,567 |
|
|
|
25,292,550 |
|
|
|
26,216,266 |
|
|
|
19,113,426 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share |
|
$ |
(0.10 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.26 |
) |
|
$ |
(1.33 |
) |
| Diluted earnings per share |
|
$ |
(0.10 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.26 |
) |
|
$ |
(1.47 |
) |
|
| Schedule of Outstanding Diluted Shares Excluded from Diluted Loss Per Share Computation |
The following common share equivalents are
excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
| |
|
For the Three and Nine Months Ended |
|
| |
|
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
| Convertible preferred stock |
|
|
1,642,628 |
|
|
|
1,747,756 |
|
| Warrants |
|
|
6,840,049 |
|
|
|
6,852,861 |
|
| Options |
|
|
128,008 |
|
|
|
106,108 |
|
| Total potentially dilutive shares |
|
|
8,610,685 |
|
|
|
8,706,725 |
|
|