Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.21.1
Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2021
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  
March 31, 2021                                
Assets (Note 3)                                
Common stock of Sonnet   $ 416,974             $     $ 416,974  
Liabilities (Note 9)                                
True-up provision of Convertible Preferred Series 2   $     $     $     $  

 

   

Quoted Prices in Active Markets

(Level 1)

    Significant Observable Inputs (Level 2)     Significant Unobservable Inputs (Level 3)     Total Fair Value  
December 31, 2020                                
Assets (Note 3)                                
Common stock of Sonnet   $ 413,268             $     $ 413,268  
Liabilities (Note 9)                                
True-up provision of Convertible Preferred Series 2   $     $     $ 184,800     $ 184,800  
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