Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements (Tables)

v3.19.2
Fair value measurements (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of Weighted Average Unobservable Inputs

A summary of weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s Notes and Warrants at the issuance date of January 28, 2019 and during the conversion of the Notes for the three months ended June 30, 2019, are as follows:

 

Senior Secured Promissory Notes:

 

  January 28, 2019  

Three months ended

June 30, 2019

  (Unaudited)   (Unaudited)
Dividend yield 0%   0%
Expected price volatility 119.5%   122.2%-127.1%
Risk free interest rate 2.60%   2.07%-2.44%
Expected term 1 year   -

 

 

Warrants:

 

  January 28, 2019   Three months ended June 30, 2019
  (Unaudited)   (Unaudited)
Dividend yield 0%   0%
Expected price volatility 111.6%   119.9%-120.5%
Risk free interest rate 2.58%   2.23%-2.58%
Expected term 5 years   4 years, 10 months
Schedule of Changes in Level 3 Liabilities Measured at Fair Value

The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2019.

 

    Convertible Notes   Warrant Liability
Issuance of senior secured convertible notes   $ 6,330,726     $ —    
Issuance of warrants in connection with convertible notes     —         2,568,934  
Balance at January 28, 2019     6,330,726       2,568,934  
Change in fair value     1,644,582       2,753,228  
Balance at March 31, 2019     7,975,307       5,322,162  
Change in fair value     2,250,651       116,498  
Conversion of convertible notes to common stock     (10,225,959 )     —    
Recalssification of warrant liability to equity     —         (5,438,660 )
Balance at June 30, 2019   $ —       $