Short-Term Loans From Third Party (Details Textual) |
1 Months Ended |
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Dec. 30, 2018
USD ($)
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Short-term Debt [Abstract] | |
Bridge loan | $ 30,000 |
Interest at a flat rate | 10.00% |
Initial term | 6 months |
Short-term loan, description | The investor shall have at any time after the Maturity Date the option to convert the loan principal plus the unpaid interest into Ordinary Shares of the Company, at a conversion price equal to 70% of the lowest closing price of the Company's Ordinary Shares in the five (5) days prior to the conversion as quoted by Bloomberg, LP. In the event of default by the Company, the investor shall have the option to convert the loan principal plus the interest into Ordinary Shares of the Company, at a conversion price equal to 60% of the lowest closing price of the Company's Ordinary Shares in the fifteen (15) days prior to the conversion as quoted by Bloomberg, LP. |
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- Definition Short-Term financing which is expected to be paid back relatively quickly, such as by a subsequent longer-term loan. Also called swing loan or bridge financing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- References No definition available.
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- Definition Information about borrowings which initially required repayment in less than twelve months (or normal operating cycle, if longer) after its issuance and that does not otherwise qualify as long-term debt. It typically is comprised of borrowings under letters of credit, lines of credit, commercial paper, and notes payable of short duration. Disclosures include amounts of borrowings under each arrangement, description of underlying arrangements, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements such as the effects of refinancings and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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