Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.20.2
Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of Fair Value of Financial Instruments

The table below reflects the level of the inputs used in the Company’s fair value calculations:

 

    Quoted Prices in Active Markets
(Level 1)		    

Significant
Observable Inputs

(Level 2)

    

Significant Unobservable Inputs

(Level 3)

    

Total Fair

Value

  
September 30, 2020                                
Assets (Note 4)                                
Warrants to purchase common stock of Sonnet   $    —     $ 476,724     $ —     $ 476,724  
Liabilities (Note 10)                                
Make-whole provision of Convertible Preferred Series 2   $ —     $ —     $ 1,195,724     $ 1,195,724  
Schedule of Property and Equipment Useful Lives

The estimated useful lives used to compute depreciation and amortization are as follows:

 

Leasehold improvements 5-15 years
Restaurant furnishings and equipment 3-10 years
Furniture and fixtures 3-10 years
Office and computer equipment 3-7 years