OTHER RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) |
1 Months Ended | 3 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 15, 2021 |
Mar. 09, 2021 |
Apr. 30, 2019 |
May 31, 2021 |
Mar. 31, 2021 |
Feb. 28, 2021 |
Dec. 31, 2020 |
Aug. 31, 2020 |
Apr. 30, 2021 |
Jul. 31, 2021 |
|
Related Party Transaction [Line Items] | ||||||||||
Common stock, par value (in dollars per share) | $ 0.0001 | |||||||||
IPO [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Number of shares purchase (in shares) | 2,500,000 | |||||||||
Subsequent Event [Member] | William Horne [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Number of shares issued for services, value | $ 50,000 | |||||||||
Subsequent Event [Member] | IPO [Member] | Mr Ault [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Description of conversion | the effectiveness of the IPO, and in consideration for (i) the conversion of 750 shares of the Company’s series A convertible preferred stock beneficially owned by Mr. Ault through Ault Life Sciences, Inc. into 15,000,000 shares of Common Stock, (ii) the extension of the maturity date of the note in the original principal amount of $15,000,000 issued to the Company by Ault Life Sciences Fund, LLC, an entity controlled by Mr. Ault, to December 31, 2023, and (iii) the resignation by Mr. Ault as a director and executive officer of the Company | |||||||||
Percentage of outstanding common shares | 5.00% | |||||||||
Ault Life Sciences Fund L L C [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Short-term advances | $ 1,000,000 | $ 800,000 | ||||||||
Digital Power Lending [Member] | IPO [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Number of shares sold (in shares) | 2,000,000 | |||||||||
Securities Purchase Agreement [Member] | Ault Life Sciences Fund L L C [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Principal amount | $ 50,000 | |||||||||
Number of shares purchase (in shares) | 10,000,000 | |||||||||
Interest rate | 8.00% | |||||||||
Common stock, par value (in dollars per share) | $ 1.50 | |||||||||
Securities Purchase Agreement [Member] | Ault Life Sciences Fund L L C [Member] | Warrant [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Number of shares purchase (in shares) | 16,667 | |||||||||
Exercise price (in dollars per share) | $ 3.00 | $ 3.00 | ||||||||
Securities Purchase Agreement [Member] | Digital Power Lending [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Short-term advances | $ 1,800,000 | |||||||||
Number of shares sold (in shares) | 6,666,667 | |||||||||
Number of shares sold | $ 10,000,000 | |||||||||
Description of related party transaction | DPL paid $4 million, less the $1.8 million in advances and the surrender for cancellation of a $50,000 convertible promissory note held by Ault Global, each as described below, for an aggregate of 2,666,667 shares of Common Stock. Under the terms of the securities purchase agreement, DPL purchased an additional (i) 1,333,333 shares of Common Stock upon approval of the IND for Phase Ia clinical trials for a purchase price of $2 million, and (ii) will purchase 2,666,667 shares of the Company’s Common Stock upon the completion of these Phase Ia clinical trials for a purchase price of $4 million. | |||||||||
Description of milestones | As of the date this Quarterly Report, the first milestones related to FDA approval of IND for Phase Ia clinical trial. The Company further agreed to issue to DPL warrants to purchase a number of shares of Common Stock equal to 50% of the shares of Common Stock purchased under the securities purchase agreement at an exercise price of $3.00 per share. Finally, the Company agreed that for a period of 18 months following the date of the payment of the final tranche of $4 million, DPL will have the right to invest an additional $10 million on the same terms, except that no specific milestones have been determined with respect to the additional $10 million as of July 31, 2021 | |||||||||
Consulting Agreement [Member] | Subsequent Event [Member] | IPO [Member] | Mr Ault [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Advisory and consulting services fees | $ 50,000 |