Annual report pursuant to Section 13 and 15(d)

Capitalization and Equity Structure (Tables)

v3.19.3.a.u2
Capitalization and Equity Structure (Tables)
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Warrant Share Activity
Warrant share activity for the year ended December 31, 2019 was as follows:
Source
Exercise
Price
 
Term
(Years)
 
December 31, 2018
 
Issued
 
Expired
 
Exercised
 
December 31, 2019
December 2019 Warrants
$
0.5402

 
5
 
—

 
8,333

 
—

 
—

 
8,333

December 2019 Placement Agent Warrants
$
0.5625

 
5
 
—

 
778

 
—

 
—

 
778

May 2019 Warrants
$
0.38

 
5
 
—

 
6,667

 
—

 
—

 
6,667

2017 Information Agent Warrants
$
1.50

 
3
 
200

 
—

 
—

 
—

 
200

2015 Warrants
$
2.75

 
5
 
1,604

 
—

 
—

 
—

 
1,604

2014 PPO and Merger warrants
 
 
 
 
 
 
 
 
 
 
 
 


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

 
15,778

 
(1,504
)
 
—

 
17,670

Schedule of Assumptions used in Black-Scholes Model to Measure Fair Value
 
December 31, 2019
December 20, 2019
Current share price
$
0.39

$
0.39

Conversion price
$
0.5625

$
0.5625

Risk-free interest rate
1.69
%
1.69
%
Expected term (years)
4.97

5.00

Volatility of stock
93.1
%
92.7
%
The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Warrants:
 
December 31, 2019
December 20, 2019
Current share price
$
0.39

$
0.39

Conversion price
$
0.5402

$
0.5402

Risk-free interest rate
1.73
%
1.73
%
Expected term (years)
5.47

5.50

Volatility of stock
95.7
%
96.3
%
The following assumptions were used in the Black-Scholes Model to measure the fair value of the 2015 Warrants as of the years ended:
 
December 31, 2019
December 31, 2018
Current share price
$
0.39

$
1.24

Conversion price
$
2.75

$
3.74

Risk-free interest rate
1.59
%
2.48
%
Expected term (years)
0.99

1.99

Volatility of stock
98
%
104
%
The following assumptions were used in a combination of the Black-Scholes Model and the Lattice Model to measure the fair value of the 2019 Warrants:

 
December 31, 2019
May 24, 2019

Current share price
$
0.39

$
1.49

Conversion price
$
0.38

$
2.00

Risk-free interest rate
1.67
%
2.12
%
Expected term (years)
4.40

5.00

Volatility of stock
93.9
%
98
%