SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - USD ($) |
1 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|
Nov. 17, 2020 |
Sep. 10, 2020 |
May 07, 2020 |
May 04, 2020 |
Apr. 30, 2020 |
Dec. 31, 2020 |
Apr. 10, 2020 |
|
Options granted | 7,095,000 | ||||||
Stock Split | On November 17, 2020, the Company held its annual meeting of stockholders at which (i) the 2020 Plan and (ii) the proposal to effect a reverse stock split of the common shares at a ratio of 1-for-10, at the discretion of the Board, were approved. | ||||||
2020 Equity Incentive Plan | |||||||
Shares reserve for future issuance | 20,000,000 | ||||||
Senior Lenders | |||||||
Proceeds from senior secured loan | $ 300,000,000 | ||||||
Interest rate | 12.50% | ||||||
Mezzanine lenders | |||||||
Proceeds from senior secured loan | $ 65,000,000 | ||||||
Interest rate | 15.00% | ||||||
Maturity date | Nov. 30, 2027 | ||||||
Chief Executive Officer | |||||||
Annual base salary | $ 350,000 | ||||||
Shares issued upon exercise of options | 5,542,857 | ||||||
Executive Vice President | |||||||
Annual base salary | 310,000 | ||||||
Attorneys | |||||||
Shares issued upon exercise of options | 750,000 | ||||||
Bakersfield Renewable Fuels | |||||||
Purchase price of outstanding equity interests | 40,000,000 | ||||||
Plaintiffs value | $ 6,700,000 | ||||||
ARB, Inc. | |||||||
Services fees | $ 201,400,000 |
X | ||||||||||
- Definition Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. No definition available.
|
X | ||||||||||
- Definition Aggregate number of common shares reserved for future issuance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The average effective interest rate during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of damages paid to the plaintiff in the legal matter. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of expense for salary and wage arising from service rendered by nonofficer and officer employees. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. No definition available.
|
X | ||||||||||
- Definition Net number of share options (or share units) granted during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Description of the stock split arrangement. Also provide the retroactive effect given by a stock split that occurs after the balance date but before the release of financial statements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|