Quarterly report pursuant to Section 13 or 15(d)

Capitalization and Equity Structure (Tables)

v3.19.2
Capitalization and Equity Structure (Tables)
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Warrant share activity
Warrant shares outstanding as of December 31, 2018 and June 30, 2019 were as follows:  
Source
 
Exercise
Price
 
Term
(Years)
 
December 31,
2018
 
Issued
 
Expired
 
June 30, 2019
2019 Warrants
 
$
2.00

 
5
 
—

 
6,667

 
—

 
6,667

Information Agent Warrants
 
$
1.50

 
3
 
200

 
—

 
—

 
200

2015 Warrants
 
$
2.75

 
5
 
1,604

 
—

 
—

 
1,604

2014 PPO and Merger
 
 
 
 
 
 
 
 
 
 
 


Placement agent warrants
 
$
7.00

 
5
 
426

 
—

 
(426
)
 
—

PPO warrants
 
$
14.00

 
5
 
1,078

 
—

 
(1,078
)
 
—

Pre-2014 warrants
 
$
9.66

 
9-10
 
88

 
—

 
—

 
88

 
 
 
 
 
 
3,396

 
6,667

 
(1,504
)
 
8,559

Schedule of assumption used in valuation
The following assumptions were used in a combination of the Black Scholes option pricing model and the Binomial Lattice option pricing model to measure the fair value of the 2019 Warrants:
 
 
June 30, 2019
 
May 24, 2019
Current share price
 
$
1.27

 
$
1.49
 
Conversion price
 
$
2.00

 
$
2.00
 
Risk-free interest rate
 
1.76
%
 
2.12
%
Term (years)
 
4.9

 
5.0
 
Volatility of stock
 
96.7
%
 
98.0
%
The following assumptions were used in the Black Scholes Option Pricing Model to measure the fair value of the 2015 warrants as of June 30, 2019:
Current share price
$
1.27

Conversion price
$
2.75

Risk-free interest rate
1.84%

Term (years)
1.5

Volatility of stock
102.0%