Quarterly report pursuant to Section 13 or 15(d)

Capitalization and Equity Structure (Tables)

v3.21.2
Capitalization and Equity Structure (Tables)
 6 Months Ended
Jun. 30, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Warrant share activity
Warrant shares outstanding as of December 31, 2020 and June 30, 2021 were as follows:  
Source Exercise
Price		 Term
(Years)		 December 31, 2020 Issued Exercised June 30, 2021
2021 Warrants $ 12.81  5 —  273  —  273 
June 2020 Investor Warrants $ 5.18  5.5 397  —  (270) 127 
June 2020 Placement Agent Warrants $ 5.64  5 122  —  (83) 39 
December 2019 Warrants $ 8.10  5 556  —  —  556 
December 2019 Placement Agent Warrants $ 8.44  5 52  —  —  52 
May 2019 Warrants $ 3.52  5 198  —  (5) 193 
  1,325  273  (358) 1,240 
Schedule of assumption used in valuation The following assumptions were used in the Black-Scholes Model to measure the fair value of the 2021 Warrants:
June 30, 2021 February 11, 2021
Current share price $ 5.50  $ 9.61 
Conversion price $ 12.81  $ 12.81 
Risk-free interest rate 0.79  % 0.46  %
Expected term (years) 4.61 5.00
Volatility of stock 107.58  % 107.1  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the June 2020 Investor Warrants:
June 30, 2021 December 31, 2020
Current share price $ 5.50  $ 6.13 
Conversion price $ 5.18  $ 5.18 
Risk-free interest rate 0.76  % 0.35  %
Expected term (years) 4.45 4.94
Volatility of stock 108.93  % 105.3  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the June 2020 Placement Agent Warrants:
June 30, 2021 December 31, 2020
Current share price $ 5.50  $ 6.13 
Conversion price $ 5.64  $ 5.64 
Risk-free interest rate 0.65  % 0.31  %
Expected term (years) 3.95 4.44
Volatility of stock 107.3  % 106.8  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Warrants:
June 30, 2021 December 31, 2020
Current share price $ 5.50  $ 6.13 
Conversion price $ 8.10  $ 8.10 
Risk-free interest rate 0.66  % 0.31  %
Expected term (years) 3.97 4.47
Volatility of stock 107.22  % 107.9  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Placement Agent Warrants:
June 30, 2021 December 31, 2020
Current share price $ 5.50  $ 6.13 
Conversion price $ 8.44  $ 8.44 
Risk-free interest rate 0.56  % 0.26  %
Expected term (years) 3.47 3.97
Volatility of stock 102.46  % 109.4  %
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:
June 30, 2021 December 31, 2020
Current share price $ 5.50  $ 6.13 
Conversion price $ 3.52  $ 3.52 
Risk-free interest rate 0.44  % 0.21  %
Expected term (years) 2.9 3.4
Volatility of stock 106.2  % 107.2  %