Subsequent Events (Details) |
6 Months Ended |
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Jun. 30, 2022
USD ($)
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Subsequent Events [Abstract] | |
Aggregate purchase price | $ 175,000 |
Purchase agreement, description | At the Closing, the Company will also issue the Restricted Shares in an amount equal to the quotient of $100,000 divided by the daily volume-weighted average price of the Company’s common stock on the Nasdaq Capital Market for the five trading days prior to the Closing Date. Following the Closing, the Company will make four annual installment payments (each, an “Installment Payment,” and severally, the “Installment Payments”) to the Seller, consisting of (i) $37,500 within 45 days of the first anniversary of the Closing Date, (ii) $37,500 within 45 days of the second anniversary of the Closing Date, (iii) $25,000 within 45 days of the third anniversary of the Closing Date, and (iv) $25,000 within 45 days of the fourth anniversary of the Closing Date. The Company will also make the Earnout Payments subsequent to closing, if applicable. |
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- Definition A device of credit enhancement where a part of the purchase price for the receivable/ payable is retained to serve as a cash collateral. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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