0001213900-21-040377 | 10-Q | XBRL Viewer

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2021	Jul. 31, 2021
Document Information Line Items
Entity Registrant Name	Ipsidy Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		21,391,257
Amendment Flag	false
Entity Central Index Key	0001534154
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-54545
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2069547
Entity Address, Address Line One	670 Long Beach Boulevard
Entity Address, City or Town	Long Beach
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11561
Title of 12(b) Security	Not applicable
Entity Interactive Data Current	Yes
City Area Code	516
Local Phone Number	274-8700

Label	Element	Value
InvestorsConvertingPrincipalAndInterest	idty_InvestorsConvertingPrincipalAndInterest	$ 400,000
WarrantExerciseInducement	idty_WarrantExerciseInducement	366,795
WarrantExerciseInducement	idty_WarrantExerciseInducement	366,795
WarrantExerciseInducement	idty_WarrantExerciseInducement	366,795
WarrantExerciseInducement	idty_WarrantExerciseInducement	366,795
WarrantExerciseInducement	idty_WarrantExerciseInducement
WarrantExerciseInducement	idty_WarrantExerciseInducement
WarrantExerciseInducement	idty_WarrantExerciseInducement
WarrantExerciseInducement	idty_WarrantExerciseInducement
CostOfRevenues	idty_CostOfRevenues	156,905
CostOfRevenues	idty_CostOfRevenues	61,798
CostOfRevenues	idty_CostOfRevenues	373,049
CostOfRevenues	idty_CostOfRevenues	$ 417,521
NumberOfCommonSharesIssuedForServicesShares	idty_NumberOfCommonSharesIssuedForServicesShares	4
NumberOfCommonSharesIssuedForServicesShares	idty_NumberOfCommonSharesIssuedForServicesShares	62,500
NumberOfCommonSharesIssuedForServicesShares	idty_NumberOfCommonSharesIssuedForServicesShares	1
NumberOfCommonSharesIssuedForServicesShares	idty_NumberOfCommonSharesIssuedForServicesShares	583,334
ConsiderationAmount	idty_ConsiderationAmount	$ 50,000
ConsiderationAmount	idty_ConsiderationAmount	50,000
ConsiderationAmount	idty_ConsiderationAmount	100,000
ModificationOfWarrantsIssuedWithConvertibleDebt	idty_ModificationOfWarrantsIssuedWithConvertibleDebt	95,223
ModificationOfWarrantsIssuedWithConvertibleDebt	idty_ModificationOfWarrantsIssuedWithConvertibleDebt
ExchangeOfNotesPayableAndAccruedInterestForConvertibleNotesPayable	idty_ExchangeOfNotesPayableAndAccruedInterestForConvertibleNotesPayable	2,662,000
ExchangeOfNotesPayableAndAccruedInterestForConvertibleNotesPayable	idty_ExchangeOfNotesPayableAndAccruedInterestForConvertibleNotesPayable
CashlessOptionAndWarrantExercises	idty_CashlessOptionAndWarrantExercises	965,033
CashlessOptionAndWarrantExercises	idty_CashlessOptionAndWarrantExercises
SettlementOfAccountsPayableWithCommonStock	idty_SettlementOfAccountsPayableWithCommonStock	8,270
SettlementOfAccountsPayableWithCommonStock	idty_SettlementOfAccountsPayableWithCommonStock
StockOptionsVested	idty_StockOptionsVested	6,997
ConversionOfConvertibleNotePayableAndAccruedInterestToCommonStock	idty_ConversionOfConvertibleNotePayableAndAccruedInterestToCommonStock	$ 6,232,340
ConversionOfConvertibleNotePayableAndAccruedInterestToCommonStock	idty_ConversionOfConvertibleNotePayableAndAccruedInterestToCommonStock
WarrantExerciseInducementExpense	idty_WarrantExerciseInducementExpense	366,795
WarrantExerciseInducementExpense	idty_WarrantExerciseInducementExpense	366,795
WarrantExerciseInducementExpense	idty_WarrantExerciseInducementExpense
WarrantExerciseInducementExpense	idty_WarrantExerciseInducementExpense
SettlementOfAccountsPayableWithIssuanceOfStockOptions	idty_SettlementOfAccountsPayableWithIssuanceOfStockOptions	349,376
SettlementOfAccountsPayableWithIssuanceOfStockOptions	idty_SettlementOfAccountsPayableWithIssuanceOfStockOptions
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise	68
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise	1,248,915
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise	1,248,983
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise	68
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise	1,248,915
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise	1,248,983
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise
AdjustmentsToAdditionalPaidInCapitalWarrantExercise	idty_AdjustmentsToAdditionalPaidInCapitalWarrantExercise
IssuanceOfCommonStockToSettleAccountsPayableInShares	idty_IssuanceOfCommonStockToSettleAccountsPayableInShares	3,540
AmendmentAgreementDescription	idty_AmendmentAgreementDescription	In February 2020, the Company and the holders of the 8% Notes entered into an amendment agreement pursuant to which the principal and interest due under the 8% Notes will remain due and payable on the same terms as exist in the 8% Notes prior to modification, that the maturity shall be extended to the same maturity date as the 2020 Notes, namely February 28, 2022, and the 8% Notes became a secured obligation of the Company.
AmendmentAgreementDescription	idty_AmendmentAgreementDescription	the Company, entered into Securities Purchase Agreements with several accredited investors (the “2020 Note Investors”) providing for the sale by the Company to the 2020 Note Investors of 15% Senior Secured Convertible Notes in the aggregate amount of $1,510,000 (the “2020 Notes”). Philip D. Beck, Chief Executive Officer and Chairman of the Board, invested $50,000 in consideration of a 2020 Note in the principal amount of $50,000 paid by a deduction from his salary. Theodore Stern, a director of the Company, invested $50,000 in consideration of a 2020 Note in the principal amount of $50,000. Herbert Selzer, a director of the Company invested $100,000 in consideration of a 2020 Note in the principal amount of $100,000. Mr. Selzer provided $50,000 on the closing date and provided the balance of the funding in April 2020.The 2020 Notes mature February 28, 2022 and are a secured obligation of the Company. At the option of the 2020 Note Investors, they may at any time convert the 2020 Notes. The number of shares delivered shall be equal to 150% of the amount of the principal converted divided by the conversion price of $6.00 per share. The Company may require that the 2020 Note Investors convert all or a portion of the 2020 Notes, if the Company’s volume weighted average price for any preceding 20-day period is equal to or greater than $9.00. In connection with this private offering, the Company paid Network 1 Financial Securities, Inc., a registered broker-dealer, a cash fee of approximately $104,800. During the first quarter of 2021, convertible notes totaling $120,000 and a portion of their accrued interest at the option of the noteholders were converted into approximately 33,000 shares of common stock of the Company. Additionally, during the six months ended June 30, 2021, the Company received conversion notices from (i) the Stern Trust converting the principal amount, repayment premium and interest in the amount of approximately $3.5 million payable under the Restated Stern Note into approximately 561,000 shares of common stock, (ii) the 8% Note Investors converting principal and interest in the amount of approximately $0.4 million into approximately 180,000 shares of common stock and (iii) the 2020 Note Investors converting principal, repayment premium and interest in the amount of approximately $2.5 million into approximately 398,000 shares of common stock.
IssuanceOfCommonStockToSettleAccountsPayable	idty_IssuanceOfCommonStockToSettleAccountsPayable	$ 0
IssuanceOfCommonStockToSettleAccountsPayable	idty_IssuanceOfCommonStockToSettleAccountsPayable	8,270
IssuanceOfCommonStockToSettleAccountsPayable	idty_IssuanceOfCommonStockToSettleAccountsPayable	8,270
IssuanceOfCommonStockToSettleAccountsPayable	idty_IssuanceOfCommonStockToSettleAccountsPayable
AmortizationExpense	idty_AmortizationExpense	596,758
AmortizationExpense	idty_AmortizationExpense	$ 579,371
AgreementTerm	idty_AgreementTerm	30 days
ProceedsFromPayrollProtectionLoan	idty_ProceedsFromPayrollProtectionLoan	$ 485,760
ProceedsFromPayrollProtectionLoan	idty_ProceedsFromPayrollProtectionLoan	485,760
ForgivenessOfNotePayable	idty_ForgivenessOfNotePayable	485,760
ForgivenessOfNotePayable	idty_ForgivenessOfNotePayable
PayrollPr	idty_PayrollPr
PayrollPr	idty_PayrollPr
WarrantAndStockOptionCashlessExercisesShares	idty_WarrantAndStockOptionCashlessExercisesShares	286,453
WarrantAndStockOptionCashlessExercisesShares	idty_WarrantAndStockOptionCashlessExercisesShares	108,333
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises	$ 30
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises	(30)
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises	11
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises	(11)
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises
WarrantAndStockOptionCashlessExercises	idty_WarrantAndStockOptionCashlessExercises
CashlessWarrantExerciseinShares	idty_CashlessWarrantExerciseinShares	262,759
WarrantTerm	idty_WarrantTerm	10 years
WarrantTerm	idty_WarrantTerm	10 years
WarrantTerm	idty_WarrantTerm	10 years
WarrantTerm	idty_WarrantTerm	10 years
WarrantExerciseInShares	idty_WarrantExerciseInShares	682,700
WarrantExerciseInShares	idty_WarrantExerciseInShares	682,700
CashlessWarrantExercise	idty_CashlessWarrantExercise	$ 26
CashlessWarrantExercise	idty_CashlessWarrantExercise	(26)
CashlessWarrantExercise	idty_CashlessWarrantExercise
CashlessWarrantExercise	idty_CashlessWarrantExercise
OtherIncomeExpense	idty_OtherIncomeExpense	491,881
OtherIncomeExpense	idty_OtherIncomeExpense	(342,082)
OtherIncomeExpense	idty_OtherIncomeExpense	493,418
OtherIncomeExpense	idty_OtherIncomeExpense	(1,317,971)
LesseeOperatingLeaseLiabilityImputedInterest1	idty_LesseeOperatingLeaseLiabilityImputedInterest1	5,516
ConvertingPrincipalRepaymentPremiumAndInterestAmount	idty_ConvertingPrincipalRepaymentPremiumAndInterestAmount	2,500,000
LesseeOperatingLeaseLiabilityPaymentsDueGross	idty_LesseeOperatingLeaseLiabilityPaymentsDueGross	98,019
LossBeforeIncomesTaxes	idty_LossBeforeIncomesTaxes	(3,055,256)
LossBeforeIncomesTaxes	idty_LossBeforeIncomesTaxes	(3,458,856)
LossBeforeIncomesTaxes	idty_LossBeforeIncomesTaxes	(5,538,067)
LossBeforeIncomesTaxes	idty_LossBeforeIncomesTaxes	$ (7,286,403)
StockIssuedDuringPeriodSharesUponExerciseOfWarrants	idty_StockIssuedDuringPeriodSharesUponExerciseOfWarrants	549,000
ReceiveFromBonus	idty_ReceiveFromBonus	$ 50,000
TotalIndebtednessConverted	idty_TotalIndebtednessConverted	6,100,000
AggregateSharesOfCommonStock	idty_AggregateSharesOfCommonStock	1,138,000
CapitalLeasesFutureMinimumNetPaymentsReceivable	idty_CapitalLeasesFutureMinimumNetPaymentsReceivable	$ 459,332
SharesOfCommonStock	idty_SharesOfCommonStock	180,000
IncomeTaxExpense	idty_IncomeTaxExpense	$ 2,354
IncomeTaxExpense	idty_IncomeTaxExpense	3,592
IncomeTaxExpense	idty_IncomeTaxExpense	9,542
IncomeTaxExpense	idty_IncomeTaxExpense	12,466
CapitalLeasesFutureMinimumPaymentsReceivableDeferredIncome	idty_CapitalLeasesFutureMinimumPaymentsReceivableDeferredIncome	131,050
NetLoss	idty_NetLoss	3,057,610
NetLoss	idty_NetLoss	3,462,448
NetLoss	idty_NetLoss	5,547,609
NetLoss	idty_NetLoss	$ 7,298,869
LeaseTerm	idty_LeaseTerm	Jun. 30, 2022
AccumulatedDeficit	idty_AccumulatedDeficit	$ 103,800,000
lossFromOpration	idty_lossFromOpration	$ 5,500,000
StockOptionsDescription	idty_StockOptionsDescription	●The Company granted Mr. Thimot and Mr. Smith stock options to acquire 1,200,000 and 600,000 shares of common stock respectively upon their employment of which half of the options vest monthly over four years and the balance vest upon the achievement of certain market capitalization thresholds or performance conditions. ●The Company granted each of Mr. Kumnick and Mr. Broenniman stock options to acquire 583,333 shares of common stock that vest upon the achievement of certain market capitalization thresholds or performance conditions. ●The Company granted each of the four new Board of Directors as of June 2021 stock options to acquire 62,500 shares of common stock or a total of 250,000 that vest one third a year after each Annual Meeting. ●The Company granted the previously serving Board of Directors stock options to acquire 93,470 common shares that are vested as the services were rendered. The stock options were granted in lieu of other forms of Board of Director Compensation and was used to eliminate previously accrued Board of Director compensation. The Company also granted to each of Mr. Selzer and Mr. Stern 22,388 stock options to acquire common shares for service in 2021 prior to their resignation as Board Members. Upon their resignation as directors in June 2021, 6,997 stock options to each of them were vested and the balance were forfeited. ●The Company granted options to acquire 583,334 shares of common stock to employees. The options for 383,334 vest annually over a three-year period, 100,000 vest equally over a four-year period, and the balance of 100,000 vest upon the achievement of certain market capitalization thresholds or performance conditions.
NumberOfDirectors	idty_NumberOfDirectors	250,000
MultiPaySASMember
AgreementTerm	idty_AgreementTerm	1 year
ExtendedAgreementTerm	idty_ExtendedAgreementTerm	1 year
SecuritiesPurchaseAgreementsMember
AggregateOfferingPrice	idty_AggregateOfferingPrice	$ 20,000,000
NumberOfCommonStockPurchased	idty_NumberOfCommonStockPurchased	$ 1,800,000

Other Current Assets (Details) - Schedule of other current assets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Schedule of other current assets [Abstract]
Operating lease right of use	$ 92,503	$ 131,568

Accounts Payable and Accrued Expenses (Details) - Schedule of accounts payable and accrued expenses - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Schedule of accounts payable and accrued expenses [Abstract]
Total	$ 2,103,954	$ 2,665,132

Notes Payable, Net (Details) - Schedule of notes payable - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Schedule of notes payable [Abstract]
Paycheck Protection Program Loan		$ 485,760
Paycheck Protection Program Loans	$ 485,760
Notes Payable, current portion,	4,632	5,947
Notes Payable, net of current portion	$ 485,760	$ 487,339

Convertible Notes Payable (Details) - Schedule of future maturities of convertible debt	Jun. 30, 2021 USD ($)
Schedule of future maturities of convertible debt [Abstract]
2021
2022	662.000
Total convertible notes payable	$ 662,000

Stockholder's Equity (Details) - Schedule of warrant activity	6 Months Ended
	Jun. 30, 2021
Schedule of warrant activity [Abstract]
Weighted Average Remaining Life, Outstanding balance at ending	3 years 8 months 12 days

Stockholder's Equity (Details) - Schedule of outstanding stock options	6 Months Ended
	Jun. 30, 2021 USD ($)
Schedule of outstanding stock options [Abstract]
Weighted Average Contractual Term (Yrs.), Granted	10 years
Aggregate Intrinsic Value, Granted
Weighted Average Contractual Term (Yrs.), Exercised/cancelled
Aggregate Intrinsic Value, Exercised/cancelled
Weighted Average Contractual Term (Yrs.), Outstanding at ending	7 years 9 months 18 days

Direct Financing Lease (Details)	6 Months Ended
Direct Financing Lease (Details)	Jun. 30, 2021 USD ($)
Direct Financing Lease (Details) [Line Items]
Lease contract term	10 years
Lease rent expense	$ 142,272
Incremental revenue	26,000
Aggregate minimum future lease payments	1,422,000
Unearned income	$ 474,000

Direct Financing Lease (Details) - Schedule of future minimum lease payments to be received	Dec. 31, 2020 USD ($)
Schedule of future minimum lease payments to be received [Abstract]
2022	$ 122,148

Commitments and Contingencies (Details) - Schedule of related lease balance	Jun. 30, 2021 USD ($)
Schedule of related lease balance [Abstract]
Current portion of operating lease ROU assets - included in other current assets	$ 89,210
Operating lease ROU assets – included in Other Assets
Total operating lease assets	89,210
Current portion of ROU liabilities – included in Accounts payable and accrued expenses	92,503
Long-term portion of ROU liabilities – included in Other liabilities