Annual report pursuant to Section 13 and 15(d)

Capitalization and Equity Structure (Tables)

v3.20.4
Capitalization and Equity Structure (Tables)
 12 Months Ended
Dec. 31, 2020
Capitalization, Long-term Debt and Equity [Abstract]  
Schedule of Warrant Share Activity
Warrant shares outstanding as of December 31, 2019 and December 31, 2020 were as follows:
Source Exercise
Price		 Term
(Years)		 December 31, 2019 Issued Expired Exercised December 31, 2020
June 2020 Investor Warrants $ 5.18  5.5 —  874  —  (477) 397 
June 2020 Placement Agent Warrants $ 5.64  5 —  122  —  —  122 
December 2019 Warrants $ 8.10  5 556  —  —  —  556 
December 2019 Placement Agent Warrants $ 8.44  5 52  —  —  —  52 
May 2019 Warrants $ 3.52  5 444  —  —  (246) 198 
2017 Information Agent Warrants $ 22.50  3 13  —  (13) —  — 
2015 Warrants $ 41.25  5 107  —  (107) —  — 
Pre-2014 warrants $ 144.90 
9-10
 6  —  (6) —  — 
  1,178  996  (126) (723) 1,325 
Schedule of Assumptions used in Black-Scholes Model to Measure Fair Value The following assumptions were used in the Black-Scholes Model to measure the fair value of the June 2020 Investor Warrants:
December 31, 2020 June 10, 2020
Current share price $ 6.13  $ 3.81 
Conversion price $ 5.18  $ 5.18 
Risk-free interest rate 0.35  % 0.39  %
Expected term (years) 4.94 5.5
Volatility of stock 105.3  % 96.4  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the June 2020 Placement Agent Warrants:
December 31, 2020 June 10, 2020
Current share price $ 6.13  $ 3.81 
Conversion price $ 5.64  $ 5.64 
Risk-free interest rate 0.31  % 0.33  %
Expected term (years) 4.44 5
Volatility of stock 106.8  % 96.3  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Warrants:
December 31, 2020 December 31, 2019
Current share price $ 6.13  $ 5.86 
Conversion price $ 8.10  $ 8.10 
Risk-free interest rate 0.31  % 1.73  %
Expected term (years) 4.47 5.47
Volatility of stock 107.9  % 95.7  %
December 31, 2020 December 31, 2019
Current share price $ 6.13  $ 5.86 
Conversion price $ 8.44  $ 8.44 
Risk-free interest rate 0.26  % 1.69  %
Expected term (years) 3.97 4.97
Volatility of stock 109.4  % 93.1  %
The following assumptions were used in a combination of the Black-Scholes Model and the Lattice Model to measure the fair value of the May 2019 Warrants:
December 31, 2020 December 31, 2019
Current share price $ 6.13  $ 5.86 
Conversion price $ 3.52  $ 5.70 
Risk-free interest rate 0.21  % 1.67  %
Expected term (years) 3.40 4.40
Volatility of stock 107.2  % 93.9  %