Quarterly report pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v3.8.0.1
Warrant Liability (Tables)
3 Months Ended
Mar. 31, 2018
Warrant Liability [Abstract]  
Schedule of Assumptions Used
The assumptions used in the BSM and MCM models for the February 2018 warrants are as follows:

 
 
Three Months Ended March 31, 2018
 
Year Ended December 31,
2017
Risk-free interest rate
 
2.58%-2.68%
 
N/A
Volatility
 
80%-85%
 
N/A
Expected life (years)
 
5.38-5.5
 
N/A
Dividend yield
 
—%
 
N/A
The assumptions used in the BSM model for the February 2017 warrants are as follows:
 
 
 
Three Months Ended March 31, 2018
 
Year Ended December 31,
2017
Risk-free interest rate
 
2.46%-2.55%
 
1.68%-1.86%
Volatility
 
80.0%
 
80.00%-160.11%
Expected life (years)
 
3.87-3.96
 
0.5-5.0
Dividend yield
 
—%
 
—%
The fair value of the option grants has been estimated, with the following weighted-average assumptions:
 
Three Months Ended March 31,
 
2018
 
2017
Risk-free interest rate
1.3% - 2.24%
 
1.3% - 2.24%
Volatility
70.18% - 89.11%
 
70.18% - 89.11%
Expected life (years)
5 to 6.25
 
6 to 6.25
Expected dividend yield

 

Schedule of Warrant Activity
A summary of our February 2017 warrant activity and related information follows:
Description
 
Number of
Shares Under
Warrant
 
Range of
Warrant Price
per Share
 
Weighted
Average
Exercise Price
 
Weighted Average
Remaining
Contractual Life (Years)
Balance at January 1, 2018
 
419,772

 
$1.35-$1.50

 
1.46

 
4.38

Granted
 

 

 
$

 

Exercised
 
(9,752
)
 

 
$
1.50

 

Expired
 

 

 
$

 

Balance at March 31, 2018
 
410,020

 
$
1.50

 
$
1.50

 
3.88

Vested and Exercisable at March 31, 2018
 
410,020

 
$
1.50

 
$
1.50

 
3.88

A summary of our February 2018 Warrant activity and related information follows:
Description
 
Number of
Shares Under
Warrant
 
Range of
Warrant Price
per Share
 
Weighted
Average
Exercise Price
 
Weighted Average
Remaining
Contractual Life (Years)
Balance at January 1, 2018
 

 

 

 

Granted
 
2,273,700

 
$2.80
 
$
2.80

 
5.5

Exercised
 

 

 
$

 

Expired
 

 

 
$

 

Balance at March 31, 2018
 
2,273,700

 
$
2.80

 
$
2.80

 
5.5

Vested and Exercisable at March 31, 2018
 
2,273,700

 
$
2.80

 
$
2.80