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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2020	Aug. 12, 2020
Document Information Line Items
Entity Registrant Name	Nxt-ID, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		35,009,952
Amendment Flag	false
Entity Central Index Key	0001566826
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-36616
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Cash	$ 1,362,384	$ 1,587,250
Restricted cash	150,130	150,130
Accounts receivable, net	11,107	38,526
Inventory, net	808,042	1,303,279
Prepaid expenses and other current assets	345,884	285,495
Total Current Assets	2,677,547	3,364,680
Property and equipment:
Equipment	183,044	183,044
Furniture and fixtures	98,839	98,839
Tooling and molds	644,462	644,462
Property and equipment, gross	926,345	926,345
Accumulated depreciation	(864,504)	(831,290)
Property and equipment, net	61,841	95,055
Right-of-use assets	340,972	108,508
Goodwill	15,479,662	15,479,662
Other intangible assets, net of amortization of $2,982,067 and $2,604,290, respectively	5,622,500	6,000,277
Total Assets	24,182,522	25,048,182
Current Liabilities
Accounts payable	1,855,026	2,118,476
Accrued expenses	1,170,456	1,492,111
Term loan facility - current	2,062,500	2,062,500
Other short-term debt	346,390
Total Current Liabilities	5,434,372	5,673,087
Term loan facility, net of debt discount of $189,551 and $244,070, respectively, and deferred debt issuance costs of $980,538 and $1,262,565, respectively	8,894,538	9,739,242
Other long-term liabilities	1,354,899	1,113,965
Total Liabilities	15,683,809	16,526,294
Commitments and Contingencies
Series C Preferred Stock
Series C Preferred Stock, par value $0.0001 per share: 2,000 shares designated; 2,000 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	1,807,300	1,807,300
Stockholders’ Equity
Common Stock, par value $0.0001 per share: 100,000,000 shares authorized; 30,496,474 and 30,048,854 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	3,050	3,005
Additional paid-in capital	68,722,019	68,515,674
Accumulated deficit	(62,033,656)	(61,804,091)
Total Stockholders’ Equity	6,691,413	6,714,588
Total Liabilities, Series C Preferred Stock and Stockholders’ Equity	24,182,522	25,048,182
Series A Preferred Stock
Stockholders’ Equity
Preferred Stock, value
Series B Preferred Stock
Stockholders’ Equity
Preferred Stock, value

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Other intangible assets, net of amortization (in Dollars)	$ 2,982,067	$ 2,604,290
Deferred debt issuance costs (in Dollars)	980,538	1,262,565
Net of debt discount (in Dollars)	$ 189,551	$ 244,070
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	30,496,474	30,048,854
Common stock, shares outstanding	30,496,474	30,048,854
Series C Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares designated	2,000	2,000
Preferred stock, shares issued	2,000	2,000
Preferred stock, shares outstanding	2,000	2,000
Series A Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares designated	3,125,000	3,125,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares designated	4,500,000	4,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues	$ 2,482,983	$ 4,486,811	$ 6,227,012	$ 8,668,521
Cost of goods sold	669,059	1,079,333	1,617,183	2,098,967
Gross Profit	1,813,924	3,407,478	4,609,829	6,569,554
Operating Expenses
General and administrative	1,041,613	1,546,630	1,885,819	3,146,589
Selling and marketing	562,860	894,070	1,288,541	1,743,583
Research and development	312,777	403,327	499,389	608,280
Total Operating Expenses	1,917,250	2,844,027	3,673,749	5,498,452
Operating Income	(103,326)	563,451	936,080	1,071,102
Other Income and (Expense)
Interest expense	(564,303)	(691,267)	(1,165,645)	(1,277,468)
Loss on extinguishment of debt		(2,343,879)		(2,343,879)
Change in fair value of contingent consideration		299,534		85,111
Total Other Expense, Net	(564,303)	(2,735,612)	(1,165,645)	(3,536,236)
Loss from Continuing Operations	(667,629)	(2,172,161)	(229,565)	(2,465,134)
Loss from Discontinued Operations		(1,184,966)		(2,190,540)
Net Loss	(667,629)	(3,357,127)	(229,565)	(4,655,674)
Preferred stock dividends	(25,000)	(75,000)	(50,000)	(100,000)
Net Loss applicable to Common Stockholders	$ (692,629)	$ (3,432,127)	$ (279,565)	$ (4,755,674)
Loss Per Share from Continuing Operations – Basic and Diluted (in Dollars per share)	$ (0.02)	$ (0.08)	$ (0.01)	$ (0.09)
Loss Per Share from Discontinued Operations – Basic and diluted (in Dollars per share)	0.00	(0.04)	0.00	(0.08)
Net Loss Per Share – Basic and Diluted (in Dollars per share)	$ (0.02)	$ (0.12)	$ (0.01)	$ (0.17)
Weighted Average Number of Common Shares Outstanding – Basic and Diluted (in Shares)	30,337,390	29,234,248	30,245,297	27,624,003

Condensed Consolidated Statements of Changes In Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 2,523	$ 64,748,871	$ (50,014,636)	$ 14,736,758
Balance (in Shares) at Dec. 31, 2018	25,228,072
Issuance of stock options for services	$ 61	446,929		446,990
Issuance of stock options for services (in Shares)	609,910
Issuance of common stock for cash, net of fees	$ 355	3,197,455		3,197,810
Issuance of common stock for cash, net of fees (in Shares)	3,553,363
Shares issued in connection with the management incentive plan for 2017 and 2018	$ 29	216,238		216,267
Shares issued in connection with the management incentive plan for 2017 and 2018 (in Shares)	289,216
Fees incurred in connection with equity offerings		(106,104)		(106,104)
Net loss			(4,655,674)	(4,655,674)
Preferred stock dividends		(100,000)		(100,000)
Balance at Jun. 30, 2019	$ 2,968	68,403,389	(54,670,310)	13,736,047
Balance (in Shares) at Jun. 30, 2019	29,680,561
Balance at Mar. 31, 2019	$ 2,656	66,138,426	(51,313,183)	14,827,899
Balance (in Shares) at Mar. 31, 2019	26,564,921
Issuance of stock options for services	$ 40	261,700		261,740
Issuance of stock options for services (in Shares)	397,288
Issuance of common stock for cash, net of fees	$ 247	1,914,753		1,915,000
Issuance of common stock for cash, net of fees (in Shares)	2,469,136
Shares issued in connection with the management incentive plan for 2017 and 2018	$ 25	169,442		169,467
Shares issued in connection with the management incentive plan for 2017 and 2018 (in Shares)	249,216
Fees incurred in connection with equity offerings		(5,932)		(5,932)
Net loss			(3,357,127)	(3,357,127)
Preferred stock dividends		(75,000)		(75,000)
Balance at Jun. 30, 2019	$ 2,968	68,403,389	(54,670,310)	13,736,047
Balance (in Shares) at Jun. 30, 2019	29,680,561
Balance at Dec. 31, 2019	$ 3,005	68,515,674	(61,804,091)	6,714,588
Balance (in Shares) at Dec. 31, 2019	30,048,854
Issuance of stock options for services		80,000		80,000
Shares issued in connection with the management incentive plan for 2017 and 2018	$ 45	200,749		200,794
Shares issued in connection with the management incentive plan for 2017 and 2018 (in Shares)	447,620
Fees incurred in connection with equity offerings		(24,404)		(24,404)
Net loss			(229,565)	(229,565)
Preferred stock dividends		(50,000)		(50,000)
Balance at Jun. 30, 2020	$ 3,050	68,722,019	(62,033,656)	6,691,413
Balance (in Shares) at Jun. 30, 2020	30,496,474
Balance at Mar. 31, 2020	$ 3,033	68,647,274	(61,366,027)	7,284,280
Balance (in Shares) at Mar. 31, 2020	30,328,141
Issuance of stock options for services		40,000		40,000
Shares issued in connection with the management incentive plan for 2017 and 2018	$ 17	84,149		84,166
Shares issued in connection with the management incentive plan for 2017 and 2018 (in Shares)	168,333
Fees incurred in connection with equity offerings		(24,404)		(24,404)
Net loss			(667,629)	(667,629)
Preferred stock dividends		(25,000)		(25,000)
Balance at Jun. 30, 2020	$ 3,050	$ 68,722,019	$ (62,033,656)	$ 6,691,413
Balance (in Shares) at Jun. 30, 2020	30,496,474

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities
Net Loss	$ (229,565)	$ (4,655,674)
Loss from discontinued operations		(2,190,540)
Loss from continuing operations	(229,565)	(2,465,134)
Adjustments to reconcile net loss to net cash used in operating activities of continuing operations:
Depreciation	33,214	36,600
Stock based compensation	80,000	417,667
Amortization of debt discount	54,519	70,001
Amortization of intangible assets	377,777	377,777
Amortization of deferred debt issuance costs	282,027	183,421
Change in fair value of contingent consideration		(85,111)
Loss on extinguishment of debt		2,343,879
Deferred taxes
Changes in operating assets and liabilities:
Accounts receivable	27,419	160,674
Inventory	495,237	(345,136)
Prepaid expenses and other current assets	(60,389)	(72,031)
Accounts payable	(283,534)	245,559
Accrued expenses	(166,711)	(199,505)
Total Adjustments	839,559	3,133,795
Net Cash Provided by Operating Activities of Continuing Operations	609,994	668,661
Cash flows from Investing Activities
Pay down of contingent consideration		(154,367)
Purchase of equipment		(7,067)
Net Cash Used in Investing Activities of Continuing Operations		(161,434)
Cash Flows from Financing Activities
Pay down of short-term debt		(159,720)
Proceeds received in connection with issuance of common stock, net		3,197,810
Repayment of term debt with Sagard Capital		(16,000,000)
Term loan borrowings, net of deferred debt issue costs		14,670,579
Term loan repayment	(1,181,250)	(171,875)
Payment of closing related fees		(47,672)
Proceeds from PPP loan	346,390
Net Cash (Used in) Provided by Financing Activities of Continuing Operations	(834,860)	1,489,122
Net (Decrease) Increase in Cash and Restricted Cash from Continuing Operations	(224,866)	1,996,349
Cash Flows from Discontinued Operations:
Cash used by operating activities of discontinued operations		(2,095,468)
Cash used in investing activities of discontinued operations		(21,849)
Net Cash Used by Discontinued Operations		(2,117,317)
Net Decrease in Cash and Restricted Cash	(224,866)	(120,968)
Cash and Restricted Cash – Beginning of Period	1,737,380	1,614,641
Cash and Restricted Cash – End of Period	1,512,514	1,493,673
Cash paid during the periods for:
Interest	845,528	851.256
Taxes	10,014	11,359
Non-cash financing activities:
Accrued fees incurred in connection with equity offerings	24,404	58,432
Common Stock issued in connection with management incentive plans	200,794	216,267
Accrued Series C Preferred Stock dividends	$ 50,000	$ 25,000

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Organization and Basis of Presentation

Note 1 – Organization and Basis of Presentation

Organization and Principal Business Activities

Nxt-ID, Inc. (“Nxt-ID” or the “Company”) was incorporated in the State of Delaware on February 8, 2012. The Company is a security technology company and operates its business in one segment – hardware and software security systems and applications. The Company is engaged in the development of proprietary products and solutions that serve multiple end markets, including the security, healthcare, financial technology and the Internet of Things (“IoT”) markets. The Company evaluates the performance of its business on, among other things, profit and loss from operations. With extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization, and sensor technologies, the Company develops and markets solutions for payment, IoT and healthcare applications.

The Company’s wholly-owned subsidiary, LogicMark LLC (“LogicMark”), manufactures and distributes non-monitored and monitored personal emergency response systems sold through the United States Department of Veterans Affairs (the “VA”), healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors.

The Company’s former wholly-owned subsidiary, Fit Pay, Inc., had a proprietary technology platform that delivers payment, credential management, authentication and other secure services to the IoT ecosystem. The platform uses tokenization, a payment security technology that replaces cardholders’ account information with a unique digital identifier, to transact highly secure contactless payment and authentication services. On September 21, 2018, the Company announced that its board of directors approved a plan to separate the Company’s financial technology business from our healthcare business into an independent publicly traded company. The Company originally planned to distribute shares of PartX, Inc., a newly created company and wholly-owned subsidiary of the Company (“PartX”), to our stockholders through the execution of a spin-off. As a result, the Company reclassified its financial technology business to discontinued operations for all periods reported. The Company’s financial technology business was comprised of its Fit Pay subsidiary and the intellectual property developed by the Company, including the Flye Smartcard and the Wocket. On April 29, 2019, a Registration Statement on Form 10 was filed by PartX with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the planned spin-off of our payments, authentication and credential management business. On August 19, 2019, the Company’s subsidiary, PartX notified the SEC that it was withdrawing the Registration Statement on Form 10. With the approval of the Company’s board of directors, and upon similar terms and conditions to those set forth in that loan agreement, the Company entered into a non-binding letter of intent for the sale of its Fit Pay subsidiary, excluding certain assets on August 6, 2019. In connection with the letter of intent, the Company was advanced $500,000 of non-interest bearing working capital for Fit Pay. On September 9, 2019, the Company completed the sale of its Fit Pay subsidiary to Garmin International, Inc. for $3.32 million in cash.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements as of June 30, 2020, and for the six and three months ended June 30, 2020 and 2019 have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC and on the same basis as the Company prepares its annual audited consolidated financial statements. The unaudited condensed consolidated balance sheet as of June 30, 2020 and the condensed consolidated statements of operations and changes in equity for the six and three months ended June 30, 2020 and June 30, 2019 and the condensed consolidated statements of cash flows for the six months ended June 30, 2020 and June 30, 2019 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the six and three months ended June 30, 2020 are not necessarily indicative of results to be expected for the year ending December 31, 2020, or for any future interim period. The condensed consolidated balance sheet at December 31, 2019 has been derived from audited consolidated financial statements. However, it does not include all of the information and notes required by U.S. GAAP for complete consolidated financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2019 and the notes thereto included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on March 30, 2020.

Liquidity

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liquidity

Note 2 – Liquidity

The Company generated operating income of $936,080 and a net loss of $229,565 during the six months ended June 30, 2020. As of June 30, 2020, the Company had cash and stockholders’ equity of $1,362,384 and $6,691,413, respectively. At June 30, 2020, the Company had a working capital deficiency of $2,756,825. On July 14, 2020, the Company, received gross proceeds of $1,864,518 from a registered direct offering. See Note 8 for details of this transaction.

Given the Company’s cash position at June 30, 2020 and its projected cash flow from operations, the Company believes that it will have sufficient capital to sustain operations for a period of one year following the date of this filing. The Company may also raise additional funds through equity or debt offerings to increase its working capital and to accelerate the execution of its long-term strategic plan to develop and commercialize its core products and to fulfill its product development commitments.

As described in Note 7, the coronavirus could significantly impact the Company’s business, which would require the Company to raise funds to assist with its working capital needs.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Note 3 – Summary Of Significant Accounting Policies

Use of estimates in the financial statements

The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s management evaluates these significant estimates and assumptions including those related to the fair value of acquired assets and liabilities, stock based compensation, derivative instruments, income taxes, accounts receivable, inventories, right-of-use assets and other matters that affect the condensed consolidated financial statements and disclosures. Actual results could differ from those estimates.

Principles of consolidation

The condensed consolidated financial statements include the accounts of Nxt-ID and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.

Revenue Recognition

The Company’s revenues consist of product sales to either end customers or to distributors and its sales are recognized at a point-in-time under the core principle of recognizing revenue when control of the product transfers to the customer. The Company recognizes revenue when it ships or delivers the product from its fulfillment center to its customer, when the customer accepts and has legal title of the product, and the Company has a present right to payment for the product. For the six months ended June 30, 2020 and 2019, the Company had no sales recognized over time. The Company invoices its customers at the same time that the Company’s performance obligation is satisfied. The Company generally receives customer orders with a specified delivery date and orders typically fluctuate from month-to-month based on customer demand and general business conditions.

The Company offers standard product warranty coverage which provides assurance that the Company’s products will conform to the contractually agreed-upon specifications for a limited period from the date of shipment. The Company’s warranty liabilities and related expense have not been material and were not material in the accompanying condensed consolidated financial statements as of June 30, 2020 and December 31, 2019, and for the six months ended June 30, 2020 and 2019.

Accounts Receivable

Accounts receivable is stated at net realizable value. The Company regularly reviews accounts receivable balances and adjusts the receivable reserves as necessary whenever events or circumstances indicate the carrying value may not be recoverable. At June 30, 2020 and December 31, 2019, the Company had an allowance for doubtful accounts of $126,733.

Inventory

The Company performs regular reviews of inventory quantities on hand and evaluates the realizable value of its inventories. The Company adjusts the carrying value of the inventory as necessary with estimated valuation reserves for excess, obsolete, and slow-moving inventory by comparing the individual inventory parts to forecasted product demand or production requirements. As of June 30, 2020, inventory was comprised of $202,526 in raw materials and $605,516 in finished goods on hand. Inventory at December 31, 2019 was comprised of $167,357 in raw materials and $1,135,922 in finished goods on hand. The Company is required to prepay for certain inventory with certain vendors until credit terms can be established. As of June 30, 2020 and December 31, 2019, the Company had prepaid inventory of $226,333 and $201,496, respectively. These prepayments were made primarily for finished goods inventory, and prepaid inventory is included in prepaid expenses and other current assets on the condensed consolidated balance sheets.

Other Intangible Assets

At June 30, 2020, the other intangible assets relating to the acquisition of LogicMark are comprised of patents of $2,633,603; trademarks of $1,010,190; and customer relationships of $1,978,707. At December 31, 2019, the other intangible assets relating to the acquisition of LogicMark are comprised of patents of $2,818,434; trademarks of $1,041,370; and customer relationships of $2,140,473. The Company will continue amortizing these intangible assets using the straight-line method over their estimated useful lives which for the patents, trademarks and customer relationships are 11 years; 20 years; and 10 years, respectively. During the six and three months ended June 30, 2020, the Company had amortization expense of $377,777 and $189,932, respectively, related to the LogicMark intangible assets. During the six and three months ended June 30, 2019, the Company had amortization expense of $377,777 and $189,932, respectively, related to the LogicMark intangible assets.

As of June 30, 2020, total amortization expense estimated for the remainder of fiscal year 2020 is approximately $381,000, and for each of the next five fiscal years, 2020 through 2024, the total amortization expense is estimated to be as follows: 2021 - $762,000; 2022 - $762,000; 2023 - $762,000; 2024 - $762,000; and 2025 - $762,000.

Stock-Based Compensation

The Company accounts for share-based awards exchanged for employee services at the estimated grant date fair value of the award. The Company accounts for equity instruments issued to non-employees at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instrument vests or becomes non-forfeitable. Non-employee stock-based compensation charges are amortized over the vesting period or as earned. Stock-based compensation is recorded in the same component of operating expenses as if it were paid in cash. The Company generally issues new shares of common stock to satisfy conversion and warrant exercises.

Net Loss per Share

Basic loss per share was computed using the weighted average number of shares of common stock outstanding. Diluted loss per share includes the effect of diluted common stock equivalents. Potentially dilutive securities from the exercise of stock options to purchase 193,652 shares of common stock and warrants to purchase 6,973,221 shares of common stock as of June 30, 2020 were excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive. As of June 30, 2019, potentially dilutive securities from the exercise of warrants to purchase 7,206,584 shares of common stock were excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

Recent Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) ASU 2018-13, which eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of the FASB’s disclosure framework project. Adoption of this guidance is required for fiscal years and interim periods within those fiscal years, beginning after December 15, 2019. This ASU was adopted and did not have a material impact on the Company’s condensed consolidated financial statements.

Other recent accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s consolidated financial statements upon adoption.

Discontinued Operations

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Note 4 – Discontinued Operations

The following table represents the financial results of the discontinued operations for the six and three months ended June 30, 2019:

	For the Six Months Ended June 30,			For the Three Months Ended June 30,
	2019			2019

Net sales	$	454,062		$	232,586
Cost of sales		121,876			58,895
Gross profit		332,186			173,691
Operating expenses		2,519,601			1,357,243
Interest expense		3,125			1,414
Loss from discontinued operations	$	(2,190,540	)	$	(1,184,966	)

Debt Refinancings

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt Refinancings

Note 5 – Debt refinancings

On May 24, 2018, LogicMark, a wholly owned subsidiary of Nxt-ID, entered into a Senior Secured Credit Agreement (the “Credit Agreement”) with the lenders thereto and Sagard Holdings Manager LP, as administrative agent and collateral agent for the lenders party to the Credit Agreement (collectively, the “Lender”), whereby the Lender extended a term loan (the “Term Loan”) to LogicMark in the principal amount of $16,000,000. The original maturity date of the Term Loan was May 24, 2023. The Term Loan Facility with Sagard Holdings Manager LP was repaid on May 3, 2019 with Term Loan proceeds received from CrowdOut Capital LLC (See below). The outstanding principal amount of the Term Loan base interest at a rate of LIBOR, adjusted monthly, plus 9.5% per annum (approximately 11.99% as of April 30, 2019). The Company incurred $1,253,970 in deferred debt issue costs related to the Term Loan. During the six and three months ended June 30, 2019, the Company amortized $86,969 and $24,270, respectively, of the deferred debt issue costs which is included in interest expense in the condensed consolidated statement of operations.

On May 24, 2018, the Company recorded a debt discount of $705,541. The debt discount is attributable to the aggregate fair value on the issuance date of both Sagard Warrants. The debt discount was amortized using the effective interest method over the five-year term of the Term Loan. During the six and three months ended June 30, 2019, the Company recorded $48,933 of debt discount amortization related to the Sagard Warrants. The debt discount amortization is included as part of interest expense in the condensed consolidated statement of operations.

On May 3, 2019, LogicMark, completed the closing of a $16,500,000 senior secured term loan with the lenders thereto and CrowdOut Capital, LLC, as administrative agent. The Company used the proceeds from the term loan to repay LogicMark’s existing term loan facility with Sagard Holdings Manager LP and to pay other costs related to the refinancing. The maturity date of the term loan is May 3, 2022 and requires the Company to make minimum principal payments over the three-year term amortized over 96 months. During the six months ended June 30, 2020, the Company has made scheduled principal repayments totaling $1,031,250. In addition, the Company prepaid an additional $150,000 of the term loan with CrowdOut Capital LLC during the six months ended June 30, 2020 with cash flow generated from operations. The outstanding principal amount of the term loan bears interest at a rate of LIBOR, adjusted monthly, plus 11.0% per annum (approximately 13.0% as of June 30, 2020). The Company incurred $412,500 in original issue discount for closing related fees charged by the Lender. During the six and three months ended June 30, 2020, the Company amortized $54,519 and $25,847, respectively of the original issue discount which is included in interest expense in the condensed consolidated statement of operations. At June 30, 2020 the unamortized balance of the original issue discount was $189,551. The Company also incurred $1,831,989 in deferred debt issue costs related to the term loan. The deferred debt issue costs include an exit fee due to CrowdOut Capital upon the earlier of final repayment of the term loan facility or the maturity date. The liability for the exit fee is included as part of other long-term liabilities in the Company’s condensed consolidated balance sheet. During the six and three months ended June 30, 2020, the Company amortized $282,027 and $133,711, respectively of the deferred debt issue costs which is included in interest expense in the condensed consolidated statement of operations. At June 30, 2020 the unamortized balance of deferred debt issuance costs were $980,538.

Debt Maturity

The maturity of the Company’s term debt is as follows:

2020 (remainder)	$	1,031,250
2021		2,062,500
2022		9,033,377
Total term debt	$	12,127,127

The Credit Agreement contains customary financial covenants. As of June 30, 2020, the Company was in compliance with such covenants.

Paycheck Protection Program

On each of May 6 and May 8, 2020, Nxt-ID Inc. and LogicMark, LLC, a wholly owned subsidiary of the Company (the “Borrowers”), respectively, received loans from Bank of America, NA in the aggregate amount of $346,390, pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act, which was enacted on March 27, 2020.

The Loans, which are in the form of PPP promissory notes and agreements, dated May 1, 2020 (the “Note Agreements”), mature on May 6 and May 8, 2022, respectively, and bear interest at a rate of 1.00% fixed per annum, payable monthly commencing on November 6 and November 8, 2020, respectively. The Loans may be prepaid by the Borrowers at any time prior to maturity with no prepayment penalties. The Borrowers used the proceeds from the Loans for payroll, payroll taxes, and group healthcare benefits. Under the terms of the Note Agreements, certain amounts of the Loans may be forgiven if they are used for qualifying expenses, as described in the Note Agreements.

In August 2020, the Company intends to apply for forgiveness of these loans and as such has treated the loans as other short-term debt on the Company’s condensed consolidated balance sheet.

Stockholders’ Equity

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

Note 6 – Stockholders’ Equity

January 2019 At-the-Market Offering

On January 8, 2019, the Company entered into a sales agreement with A.G.P./Alliance Global Partners (“A.G.P.”) for an at-the-market offering, pursuant to which the Company could sell, at its option, shares of its common stock, par value $0.0001 per share, having an aggregate offering price of up to $15 million to or through A.G.P., as sales agent. The Company was obligated to pay A.G.P. commissions for its services in acting as the Company’s sales agent in the sale of its common stock pursuant to the sales agreement. A.G.P. was entitled to compensation at a fixed commission rate of 3.0% of the gross proceeds from the sale of the Company’s common stock on the Company’s behalf pursuant to the sales agreement. The Company also agreed to reimburse A.G.P. for its reasonable out-of-pocket expenses, including the fees and disbursements of counsel to A.G.P., incurred in connection with the offering, in an amount not to exceed $35,000. During the three months ended March 31, 2019, the Company received $1,282,810 in net proceeds from the sale of 1,084,227 shares of its common stock under the sales agreement with A.G.P. The sales agreement with A.G.P. was terminated on October 10, 2019.

2013 Long-Term Stock Incentive Plan

On January 4, 2013, a majority of the Company’s stockholders approved by written consent the Company’s 2013 Long-Term Stock Incentive Plan (“LTIP”). The maximum aggregate number of shares of common stock that may be issued under the LTIP, including stock awards, stock issued to directors for serving on the Company’s board of directors, and stock appreciation rights, is limited to 10% of the shares of common stock outstanding on the first business or trading day of any fiscal year, which is 592,223 shares of common stock at January 1, 2020.

During the six months ended June 30, 2020, the Company issued an aggregate of 193,652 stock options to purchase shares of common stock under the LTIP to four (4) non-employee directors for serving on the Company’s board. The weighted average exercise price of these stock options is approximately $0.41 and stock options were fully vested at the issuance date. The aggregate fair value of the stock options issued to the directors was $80,000.

2017 Stock Incentive Plan

On August 24, 2017, a majority of the Company’s stockholders approved at the 2017 Annual Stockholders’ Meeting the 2017 Stock Incentive Plan (“2017 SIP”). The aggregate maximum number of shares of common stock (including shares underlying options) that may be issued under the 2017 SIP pursuant to awards of restricted shares or options will be limited to 10% of the outstanding shares of common stock, which calculation shall be made on the first (1^st) business day of each new fiscal year; provided that for fiscal year 2017, 1,500,000 shares of common stock may be delivered to participants under the 2017 SIP. Thereafter, the 10% provision shall govern the 2017 SIP. The number of shares of common stock that are the subject of awards under the 2017 SIP which are forfeited or terminated, are settled in cash in lieu of shares of common stock or are settled in a manner such that all or some of such shares covered by an award are not issued to a participant or are exchanged for awards that do not involve shares of common stock will again immediately become available to be issued pursuant to awards granted under the 2017 SIP. If shares of common stock are withheld from payment of an award to satisfy tax obligations with respect to the award, those shares of common stock will be treated as shares that have been issued under the 2017 SIP and will not again be available for issuance under the 2017 SIP.

In addition, during the six months ended June 30, 2020, the Company issued 447,620 shares of common stock with an aggregate fair value of $200,794 to certain employees related to the Company’s 2017 and 2018 management incentive plans.

During the six months ended June 30, 2020, the Company accrued $80,000 of management and employee bonus expense. The Company has typically paid a substantial portion of the bonus accrual with shares of common stock.

Warrants

As of June 30, 2020, the Company had outstanding warrants to purchase an aggregate of 6,973,221 shares of common stock with a weighted average exercise price and remaining life of $2.83 and 3.03 years, respectively. At June 30, 2020, all of the warrants were exercisable and had no aggregate intrinsic value.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Note 7 – Commitments and Contingencies

Legal Matters

On February 24, 2020, Michael J. Orlando, as shareholder representative (the “Shareholder Representative”), and the other stockholders of Fit Pay, Inc. (collectively, the “Fit Pay Shareholders”), filed a lawsuit in the United States District Court for the Southern District of New York against the Company, CrowdOut Capital, LLC, and Garmin International, Inc. (the “Complaint”). See Orlando v. Nxt-ID, Inc. No. 20-cv-1604 (S.D.N.Y.). The Complaint alleges that the Company has breached certain contractual obligations under a merger agreement, dated May 23, 2017, between Fit Pay, Inc. and the Company, regarding certain future, contingent earnout payments allegedly that could be owed to the Fit Pay Shareholders from future revenues. The Complaint seeks unspecified monetary damages from the defendants. The Company believes that these claims are without merit and plans to vigorously defend the action. The Company waived service of the summons and received an automatic extension of time to answer the Complaint. On May 12, 2020, the Company filed an answer and counterclaims alleging, among other things, fraud and breach of fiduciary duty of the Shareholder Representative as well as arguing that the Shareholder Representative should be estopped from pursuing these claims. Since the litigation is still in its early stages, the Company is not yet able to evaluate the likelihood of an unfavorable outcome or estimate the amount or range of potential loss.

From time to time, the Company may be involved in various claims and legal actions arising in the ordinary course of our business. Other than the above, there is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of the Company or any of our subsidiaries, threatened against or affecting our company, or any of our subsidiaries in which an adverse decision could have a material adverse effect upon our business, operating results, or financial condition.

Commitments

The Company leases office space and a fulfillment center in the U.S., which are classified as operating leases expiring at various dates. The Company determines if an arrangement qualifies as a lease at the lease inception. The Company adopted Topic 842 effective January 1, 2019. Operating lease liabilities are recorded based on the present value of the future lease payments over the lease term, assessed as of the commencement date. The Company’s real estate leases, which are for office space and a fulfillment center, generally have a lease term between 3 and 5 years. The Company also leases a copier with a lease term of 5 years. The Company’s leases are comprised of fixed lease payments and also include executory costs such as common area maintenance, as well as property insurance and property taxes. As a practical expedient under Topic 842, the Company has elected to account for the lease and non-lease components as a single lease component for its real estate leases. Lease payments, which may include lease components, non-lease components and non-components, are included in the measurement of the Company’s lease liabilities to the extent that such payments are either fixed amounts or variable amounts based on a rate or index (fixed in substance) as stipulated in the lease contract. Any actual costs in excess of such amounts are expensed as incurred as variable lease cost.

The Company’s lease agreements generally do not specify an implicit borrowing rate, and as such, the Company utilizes its incremental borrowing rate by lease term, in order to calculate the present value of the future lease payments. The discount rate represents a risk-adjusted rate on a secured basis, and is the rate at which the Company would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term. On January 1, 2019, the discount rate used on existing leases at adoption was determined based on the remaining lease term using available data as of that date. The Company’s current lease agreement for its warehouse space located in Louisville, Kentucky will be expiring on August 31, 2020. As a result, the Company entered into a new five-year lease agreement in June 2020 for new warehouse space also located in Louisville, Kentucky. The monthly rent which commences in September 2020 is $6,000 per month and increases approximately 3% annually thereafter. The ROU asset value added as a result of this new lease agreement was $279,024. The Company’s ROU asset and lease liability accounts reflect the inclusion of this new lease agreement on the Company’s condensed consolidated balance sheet as of June 30, 2020.

Certain of the Company’s lease agreements, primarily related to real estate, include options for the Company to either renew (extend) or early terminate the lease. Leases with renewal options allow the Company to extend the lease term typically between 1 and 3 years. Renewal options are reviewed at lease commencement to determine if such options are reasonably certain of being exercised, which could impact the lease term. When determining if a renewal option is reasonably certain of being exercised, the Company considers several factors, including but not limited to, significance of leasehold improvements incurred on the property, whether the asset is difficult to replace, or specific characteristics unique to the particular lease that would make it reasonably certain that the Company would exercise such option. In most cases, the Company has concluded that renewal and early termination options are not reasonably certain of being exercised by the Company (and thus not included in the Company’s ROU asset and lease liability) unless there is an economic, financial or business reason to do so.

For the six months ended June 30, 2020, total operating lease cost was $76,279 and is recorded in cost of sales and selling, general and administrative expenses, dependent on the nature of the leased asset. The operating lease cost is recognized on a straight-line basis over the lease term. The following summarizes (i) the future minimum undiscounted lease payments under non-cancelable lease for the remainder of 2020 as well as each of the next five years and thereafter, incorporating the practical expedient to account for lease and non-lease components as a single lease component for our existing real estate leases, (ii) a reconciliation of the undiscounted lease payments to the present value of the lease liabilities recognized, and (iii) the lease-related account balances on the Company’s condensed consolidated balance sheet, as of June 30, 2020:

Year Ended December 31,

2020 (excluding the six months ended June 30, 2020)	$	47,734
2021		90,986
2022		93,385
2023		89,724
2024		80,000
2025		54,400
Total future minimum lease payments	$	456,229
Less imputed interest		(114,874	)
Total present value of future minimum lease payments	$	341,355

As of June 30, 2020

Operating lease right-of-use assets	$	340,972

Other accrued expenses	$	58,956
Other long-term liabilities	$	282,399
	$	341,355

As of June 30, 2020

Weighted Average Remaining Lease Term	4.61 years
Weighted Average Discount Rate	12.80	%

Coronavirus – COVID-19

In early 2020, the coronavirus that causes COVID-19 was reported to have surfaced in China. The Company’s primary supply chain is located in China and other Asian-based locations. To date, the Company’s supply chain has not experienced any significant disruptions. The global spread of this virus has caused significant business disruption around the world including the United States, the primary area in which the Company operates and sells its products. The business disruption is currently expected to be temporary, however there is considerable uncertainty around the duration of the business disruption. Therefore, while the Company expects this matter to negatively impact the Company’s financial condition, results of operations, or cash flows, the extent of the financial impact and duration cannot be reasonably estimated at this time.

Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

Note 8 – Subsequent Events

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued.

On July 14, 2020, the Company closed a registered direct offering (the “Offering”) of (i) an aggregate of 3,778,513 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”); (ii) pre-funded warrants to purchase up to an aggregate of 734,965 shares of Common Stock at an exercise price of $0.01 per share, subject to customary adjustments thereunder; (iii) registered warrants, with a term of five (5) years exercisable immediately upon issuance, to purchase an aggregate of up to 1,579,718 shares of Common Stock (at an exercise price of $0.50 per share, subject to customary adjustments thereunder; and (iv) unregistered warrants, with a term of five and one-half (5.5) years first exercisable six (6) months after issuance, to purchase an aggregate of up to 3,750,000 shares of Common Stock at an exercise price of $0.65 per share, subject to customary adjustments thereunder, for gross proceeds of $1,864,518, before deducting any offering expenses. The Company intends to use the net proceeds from this Offering for working capital, new product initiatives and other general corporate purposes.

On July 28, 2020, the Company received proceeds of $7,350 in connection with the exercise of 734,965 pre-funded warrants to purchase common stock at an exercise price of $0.01.

In connection with the sale of Fit-Pay, Inc., Giesecke+Devrient Mobile Security America, Inc. (“GDMSAI”) has identified a disagreement with the Company over calculation of dividends with respect to GDMSAI’s Series C Non-Convertible Voting Preferred Stock (the “Series C”) of the Company. On August 13, 2020, the Company was sued by GDMSAI seeking, among other things, $440,000 of dividends that it believes are owed to it pursuant to the terms of the Series C. The Company believes that GDMSAI’s claims are not correct and plans to vigorously defend the action. Since the litigation is still in its early stages, the Company is not yet able to evaluate the likelihood of an unfavorable outcome or estimate the amount or range of potential loss beyond the amount stated in the action.

Accounting Policies, by Policy (Policies)	6 Months Ended
Accounting Policies, by Policy (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
USE OF ESTIMATES IN THE FINANCIAL STATEMENTS	*Use of estimates in the financial statements* The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s management evaluates these significant estimates and assumptions including those related to the fair value of acquired assets and liabilities, stock based compensation, derivative instruments, income taxes, accounts receivable, inventories, right-of-use assets and other matters that affect the condensed consolidated financial statements and disclosures. Actual results could differ from those estimates.
PRINCIPLES OF CONSOLIDATION	*Principles of consolidation* The condensed consolidated financial statements include the accounts of Nxt-ID and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
REVENUE RECOGNITION	*Revenue Recognition* The Company’s revenues consist of product sales to either end customers or to distributors and its sales are recognized at a point-in-time under the core principle of recognizing revenue when control of the product transfers to the customer. The Company recognizes revenue when it ships or delivers the product from its fulfillment center to its customer, when the customer accepts and has legal title of the product, and the Company has a present right to payment for the product. For the six months ended June 30, 2020 and 2019, the Company had no sales recognized over time. The Company invoices its customers at the same time that the Company’s performance obligation is satisfied. The Company generally receives customer orders with a specified delivery date and orders typically fluctuate from month-to-month based on customer demand and general business conditions. The Company offers standard product warranty coverage which provides assurance that the Company’s products will conform to the contractually agreed-upon specifications for a limited period from the date of shipment. The Company’s warranty liabilities and related expense have not been material and were not material in the accompanying condensed consolidated financial statements as of June 30, 2020 and December 31, 2019, and for the six months ended June 30, 2020 and 2019.
ACCOUNTS RECEIVABLE	*Accounts Receivable* Accounts receivable is stated at net realizable value. The Company regularly reviews accounts receivable balances and adjusts the receivable reserves as necessary whenever events or circumstances indicate the carrying value may not be recoverable. At June 30, 2020 and December 31, 2019, the Company had an allowance for doubtful accounts of $126,733.
INVENTORY	*Inventory* The Company performs regular reviews of inventory quantities on hand and evaluates the realizable value of its inventories. The Company adjusts the carrying value of the inventory as necessary with estimated valuation reserves for excess, obsolete, and slow-moving inventory by comparing the individual inventory parts to forecasted product demand or production requirements. As of June 30, 2020, inventory was comprised of $202,526 in raw materials and $605,516 in finished goods on hand. Inventory at December 31, 2019 was comprised of $167,357 in raw materials and $1,135,922 in finished goods on hand. The Company is required to prepay for certain inventory with certain vendors until credit terms can be established. As of June 30, 2020 and December 31, 2019, the Company had prepaid inventory of $226,333 and $201,496, respectively. These prepayments were made primarily for finished goods inventory, and prepaid inventory is included in prepaid expenses and other current assets on the condensed consolidated balance sheets.
OTHER INTANGIBLE ASSETS	*Other Intangible Assets* At June 30, 2020, the other intangible assets relating to the acquisition of LogicMark are comprised of patents of $2,633,603; trademarks of $1,010,190; and customer relationships of $1,978,707. At December 31, 2019, the other intangible assets relating to the acquisition of LogicMark are comprised of patents of $2,818,434; trademarks of $1,041,370; and customer relationships of $2,140,473. The Company will continue amortizing these intangible assets using the straight-line method over their estimated useful lives which for the patents, trademarks and customer relationships are 11 years; 20 years; and 10 years, respectively. During the six and three months ended June 30, 2020, the Company had amortization expense of $377,777 and $189,932, respectively, related to the LogicMark intangible assets. During the six and three months ended June 30, 2019, the Company had amortization expense of $377,777 and $189,932, respectively, related to the LogicMark intangible assets. As of June 30, 2020, total amortization expense estimated for the remainder of fiscal year 2020 is approximately $381,000, and for each of the next five fiscal years, 2020 through 2024, the total amortization expense is estimated to be as follows: 2021 - $762,000; 2022 - $762,000; 2023 - $762,000; 2024 - $762,000; and 2025 - $762,000.
STOCK-BASED COMPENSATION	*Stock-Based Compensation* The Company accounts for share-based awards exchanged for employee services at the estimated grant date fair value of the award. The Company accounts for equity instruments issued to non-employees at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instrument vests or becomes non-forfeitable. Non-employee stock-based compensation charges are amortized over the vesting period or as earned. Stock-based compensation is recorded in the same component of operating expenses as if it were paid in cash. The Company generally issues new shares of common stock to satisfy conversion and warrant exercises.
NET LOSS PER SHARE	*Net Loss per Share* Basic loss per share was computed using the weighted average number of shares of common stock outstanding. Diluted loss per share includes the effect of diluted common stock equivalents. Potentially dilutive securities from the exercise of stock options to purchase 193,652 shares of common stock and warrants to purchase 6,973,221 shares of common stock as of June 30, 2020 were excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive. As of June 30, 2019, potentially dilutive securities from the exercise of warrants to purchase 7,206,584 shares of common stock were excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.
RECENT ACCOUNTING PRONOUNCEMENTS	*Recent Accounting Pronouncements* In August 2018, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) ASU 2018-13, which eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of the FASB’s disclosure framework project. Adoption of this guidance is required for fiscal years and interim periods within those fiscal years, beginning after December 15, 2019. This ASU was adopted and did not have a material impact on the Company’s condensed consolidated financial statements. Other recent accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s consolidated financial statements upon adoption.

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

	For the Six Months Ended June 30,			For the Three Months Ended June 30,
	2019			2019

Net sales	$	454,062		$	232,586
Cost of sales		121,876			58,895
Gross profit		332,186			173,691
Operating expenses		2,519,601			1,357,243
Interest expense		3,125			1,414
Loss from discontinued operations	$	(2,190,540	)	$	(1,184,966	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Debt Refinancings (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Contractual Obligation, Fiscal Year Maturity [Table Text Block]

2020 (remainder)	$	1,031,250
2021		2,062,500
2022		9,033,377
Total term debt	$	12,127,127

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Year Ended December 31,

2020 (excluding the six months ended June 30, 2020)	$	47,734
2021		90,986
2022		93,385
2023		89,724
2024		80,000
2025		54,400
Total future minimum lease payments	$	456,229
Less imputed interest		(114,874	)
Total present value of future minimum lease payments	$	341,355

Lease, Cost [Table Text Block]

As of June 30, 2020

Operating lease right-of-use assets	$	340,972

Other accrued expenses	$	58,956
Other long-term liabilities	$	282,399
	$	341,355

As of June 30, 2020

Weighted Average Remaining Lease Term	4.61 years
Weighted Average Discount Rate	12.80	%

Organization and Basis of Presentation (Details) - USD ($)	Sep. 09, 2019	Aug. 06, 2019
Accounting Policies [Abstract]
Non-interest bearing working capital		$ 500,000
Sale of subsidiary	$ 3,320,000

Liquidity (Details) - USD ($)	3 Months Ended		6 Months Ended
Liquidity (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jul. 14, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Liquidity (Details) [Line Items]
Operating income from continuing operations	$ (103,326)	$ 563,451	$ 936,080	$ 1,071,102
Net income (loss)	(667,629)	(3,357,127)	(229,565)	(4,655,674)
Cash	1,362,384		1,362,384				$ 1,587,250
Stockholders' equity	6,691,413	$ 13,736,047	6,691,413	$ 13,736,047		$ 7,284,280	$ 6,714,588	$ 14,827,899	$ 14,736,758
Working capital deficiency	$ 2,756,825		$ 2,756,825
Subsequent Event [Member]
Liquidity (Details) [Line Items]
Received gross proceeds					$ 1,864,518

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Summary of Significant Accounting Policies (Details) [Line Items]
Allowance for doubtful accounts	$ 126,733		$ 126,733
Inventory raw materials	202,526		202,526		$ 167,357
Inventory finished goods	605,516		605,516		1,135,922
Prepaid inventory	226,333		226,333		201,496
Amortization expense of intangible assets	189,932	$ 189,932	377,777	$ 377,777
Amortization expense estimated for remainder of fiscal year 2020	381,000		381,000
Amortization expense estimated for 2021	762,000		762,000
Amortization expense estimated for 2022	762,000		762,000
Amortization expense estimated for 2023	762,000		762,000
Amortization expense estimated for 2024	762,000		762,000
Amortization expense estimated for 2025	762,000		762,000
Logic Mark Investment Partners [Member] \| Patents [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Fair value of patents	2,633,603		$ 2,633,603		2,818,434
Other intangible assets, estimated useful lives			11 years
Logic Mark Investment Partners [Member] \| Trademarks [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Fair value of trademarks	1,010,190		$ 1,010,190		1,041,370
Other intangible assets, estimated useful lives			20 years
Logic Mark Investment Partners [Member] \| Customer Relationships [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Fair value of customer relationships	$ 1,978,707		$ 1,978,707		$ 2,140,473
Other intangible assets, estimated useful lives			10 years
Common Stock [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Potentially dilutive securities (in Shares)	193,652		193,652
Warrant [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Potentially dilutive securities (in Shares)	6,973,221	7,206,584	6,973,221	7,206,584

Discontinued Operations (Details) - Schedule of disposal groups including discontinued operations - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Schedule of disposal groups including discontinued operations [Abstract]
Net sales	$ 232,586	$ 454,062
Cost of sales	58,895	121,876
Gross profit	173,691	332,186
Operating expenses	1,357,243	2,519,601
Interest expense	1,414	3,125
Loss from discontinued operations	$ (1,184,966)	$ (2,190,540)

Debt Refinancings (Details) - USD ($)				1 Months Ended	3 Months Ended		6 Months Ended
Debt Refinancings (Details) - USD ($)	May 08, 2020	May 06, 2020	May 03, 2019	May 24, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Apr. 30, 2019
Debt Refinancings (Details) [Line Items]
Credit agreement, description							On May 24, 2018, LogicMark, a wholly owned subsidiary of Nxt-ID, entered into a Senior Secured Credit Agreement (the “Credit Agreement”) with the lenders thereto and Sagard Holdings Manager LP, as administrative agent and collateral agent for the lenders party to the Credit Agreement (collectively, the “Lender”), whereby the Lender extended a term loan (the “Term Loan”) to LogicMark in the principal amount of $16,000,000.
Debt discount					$ 980,538		$ 980,538		$ 1,262,565
Debt discount amortization					133,711		282,027
Debt Instrument, Periodic Payment, Principal							1,031,250
Long-term construction loan					150,000		150,000
Amortization of debt discount					$ 25,847		$ 54,519	$ 70,001
Credit agreement, description							The deferred debt issue costs include an exit fee due to CrowdOut Capital upon the earlier of final repayment of the term loan facility or the maturity date.
Lender Concentration Risk [Member]
Debt Refinancings (Details) [Line Items]
Principal amount			$ 412,500
Term Loan [Member]
Debt Refinancings (Details) [Line Items]
Principal amount	$ 346,390	$ 346,390	$ 16,500,000	$ 16,000,000
Maturity date				May 24, 2023
Percentage of term loan bears interest rate	1.00%	1.00%	11.00%	9.50%	13.00%		13.00%			11.99%
Deferred debt issue costs				$ 1,253,970	$ 1,831,989		$ 1,831,989
Amortized of the deferred debt issuance costs						$ 24,270		86,969
Debt discount				$ 705,541	189,551		189,551
Unamortized debt issuance expense					$ 980,538		$ 980,538
Warrants and Registration Rights [Member]
Debt Refinancings (Details) [Line Items]
Debt discount amortization						$ 48,933		$ 48,933

Debt Refinancings (Details) - Schedule of maturity of the Company's term debt	Jun. 30, 2020 USD ($)
Schedule of maturity of the Company's term debt [Abstract]
2020 (remainder)	$ 1,031,250
2021	2,062,500
2022	9,033,377
Total term debt	$ 12,127,127

Stockholders’ Equity (Details) - USD ($)				3 Months Ended	6 Months Ended
Stockholders’ Equity (Details) - USD ($)	Jan. 08, 2019	Aug. 24, 2017	Jan. 04, 2013	Mar. 31, 2019	Jun. 30, 2020	Dec. 31, 2019
Stockholders’ Equity (Details) [Line Items]
Warrants to purchase shares of exercisable, description	On January 8, 2019, the Company entered into a sales agreement with A.G.P./Alliance Global Partners (“A.G.P.”) for an at-the-market offering, pursuant to which the Company could sell, at its option, shares of its common stock, par value $0.0001 per share, having an aggregate offering price of up to $15 million to or through A.G.P., as sales agent.
Common stock, par value (in Dollars per share)					$ 0.0001	$ 0.0001
Common stock shares issued (in Shares)				1,084,227
Weighted average exercise price (in Dollars per share)					$ 0.41
Employee bonus expense					$ 80,000
Warrants remaining life					3 years 10 days
Long-Term Stock Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Common stock shares issued (in Shares)					193,652
Long-term stock incentive plan, description			The maximum aggregate number of shares of common stock that may be issued under the LTIP, including stock awards, stock issued to directors for serving on the Company’s board of directors, and stock appreciation rights, is limited to 10% of the shares of common stock outstanding on the first business or trading day of any fiscal year, which is 592,223 shares of common stock at January 1, 2020.
Management Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Common stock voting rights, description		The aggregate maximum number of shares of common stock (including shares underlying options) that may be issued under the 2017 SIP pursuant to awards of restricted shares or options will be limited to 10% of the outstanding shares of common stock, which calculation shall be made on the first (1st) business day of each new fiscal year; provided that for fiscal year 2017, 1,500,000 shares of common stock may be delivered to participants under the 2017 SIP. Thereafter, the 10% provision shall govern the 2017 SIP.
Alliance Global Partners [Member]
Stockholders’ Equity (Details) [Line Items]
Common stock, par value (in Dollars per share)	$ 0.0001
Aggregate offering price	$ 15,000,000
Fixed interest rate related to the interest rate compensation	3.00%
Accounts payable	$ 35,000
Net proceeds from common stock sold				$ 1,282,810
Director [Member] \| Long-Term Stock Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Aggregate fair value					$ 80,000
Non Executive Employees [Member] \| 2017 Management Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Aggregate fair value					$ 200,794
Aggregate fair value, shares (in Shares)					447,620
Warrant Amendment and Exercise Agreement [Member] \| Investor [Member]
Stockholders’ Equity (Details) [Line Items]
Warrants to purchase aggregate outstanding (in Shares)					6,973,221
Warrant exercise price (in Dollars per share)					$ 2.83

Commitments and Contingencies (Details) - USD ($)	1 Months Ended		6 Months Ended
Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2020	Jan. 02, 2019	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies (Details) [Line Items]
Real estate lease term, description			The Company’s real estate leases, which are for office space and a fulfillment center, generally have a lease term between 3 and 5 years. The Company also leases a copier with a lease term of 5 years.
Current lease agreement expiry date		Aug. 31, 2020
Right of use asset value			$ 340,972	$ 108,508
Lease term renewal term, description			Leases with renewal options allow the Company to extend the lease term typically between 1 and 3 years.
Operating lease cost			$ 76,279
Operating lease, description			The following summarizes (i) the future minimum undiscounted lease payments under non-cancelable lease for the remainder of 2020 as well as each of the next five years and thereafter, incorporating the practical expedient to account for lease and non-lease components as a single lease component for our existing real estate leases, (ii) a reconciliation of the undiscounted lease payments to the present value of the lease liabilities recognized, and (iii) the lease-related account balances on the Company’s condensed consolidated balance sheet, as of June 30, 2020:
Subsequent Event [Member]
Commitments and Contingencies (Details) [Line Items]
Monthly rent	$ 6,000
Increasing annual rent, percentage	3.00%
Lease Agreements [Member]
Commitments and Contingencies (Details) [Line Items]
Right of use asset value			$ 279,024

Commitments and Contingencies (Details) - Schedule of future minimum lease payments	Jun. 30, 2020 USD ($)
Schedule of future minimum lease payments [Abstract]
2020 (excluding the six months ended June 30, 2020)	$ 47,734
2021	90,986
2022	93,385
2023	89,724
2024	80,000
2025	54,400
Total future minimum lease payments	456,229
Less imputed interest	(114,874)
Total present value of future minimum lease payments	$ 341,355

Commitments and Contingencies (Details) - Schedule of lease expense - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Schedule of lease expense [Abstract]
Operating lease right-of-use assets	$ 340,972	$ 108,508
Other accrued expenses	58,956
Other long-term liabilities	282,399
Total	$ 341,355
Weighted Average Remaining Lease Term	4 years 222 days
Weighted Average Discount Rate	12.80%

Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	Aug. 13, 2020	Jul. 28, 2020	Jul. 14, 2020
Subsequent Events (Details) [Line Items]
Warrant, description			(i) an aggregate of 3,778,513 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”); (ii) pre-funded warrants to purchase up to an aggregate of 734,965 shares of Common Stock at an exercise price of $0.01 per share, subject to customary adjustments thereunder; (iii) registered warrants, with a term of five (5) years exercisable immediately upon issuance, to purchase an aggregate of up to 1,579,718 shares of Common Stock (at an exercise price of $0.50 per share, subject to customary adjustments thereunder; and (iv) unregistered warrants, with a term of five and one-half (5.5) years first exercisable six (6) months after issuance, to purchase an aggregate of up to 3,750,000 shares of Common Stock at an exercise price of $0.65 per share, subject to customary adjustments thereunder, for gross proceeds of $1,864,518, before deducting any offering expenses. The Company intends to use the net proceeds from this Offering for working capital, new product initiatives and other general corporate purposes.
Proceeds of warrants		$ 7,350
Warrants of purchase common stock (in Shares)		734,965
Exercise price (in Dollars per share)		$ 0.01
Dividends	$ 440,000