Quarterly report pursuant to Section 13 or 15(d)

Capitalization and Equity Structure (Tables)

v3.20.1
Capitalization and Equity Structure (Tables)
 3 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
Schedule of Warrant share activity
Warrant shares outstanding as of December 31, 2019 and March 31, 2020 were as follows:  
Source Exercise
Price		 Term
(Years)		 December 31, 2019 Expired March 31, 2020
December 2019 Warrants $ 8.10    5 556    —    556   
December 2019 Placement Agent Warrants $ 8.44    5 52    —    52   
May 2019 Warrants $ 5.70    5 444    —    444   
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    (6)   1,172   
Schedule of assumption used in valuation The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Warrants:
March 31, 2020 December 31, 2019
Current share price $ 2.83    $ 5.86   
Conversion price $ 8.10    $ 8.10   
Risk-free interest rate 0.41  % 1.73  %
Expected term (years) 5.2 5.5
Volatility of stock 95.26  % 95.7  %
March 31, 2020 December 31, 2019
Current share price $ 2.83    $ 5.86   
Conversion price $ 8.44    $ 8.44   
Risk-free interest rate 0.37  % 1.69  %
Expected term (years) 4.7 5.0
Volatility of stock 95.79  % 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:
March 31, 2020 December 31, 2019
Current share price $ 2.83    $ 5.86   
Conversion price $ 5.70    $ 5.70   
Risk-free interest rate 0.34  % 1.67  %
Expected term (years) 4.2 4.4
Volatility of stock 99.3  % 93.9  %
The following assumptions were used in the Black-Scholes Option Pricing Model to measure the fair value of the 2015 Warrants as of:
March 31, 2020 December 31, 2019
Current share price $ 2.83    $ 5.86   
Conversion price $ 41.25    $ 41.25   
Risk-free interest rate 0.16  % 1.59  %
Expected term (years) 0.75 0.99
Volatility of stock 103.45  % 98.46  %