Quarterly report pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v3.10.0.1
Warrant Liability (Tables)
6 Months Ended
Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used
The fair value of the option grants has been estimated, with the following weighted-average assumptions:

Six Months Ended June 30,
2018  2017 
Risk-free interest rate 0.95% - 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 —  — 
June 2018 Warrants  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used
The assumptions used in the BSM model for the June 2018 warrants are as follows:


  Six Months Ended June 30, 2018 Year Ended December 31, 2017
Risk-free interest rate 2.73%-2.80%  N/A 
Volatility 80%    N/A 
Expected life (years) 4.97-5.48  N/A 
Dividend yield —%    N/A 
Schedule of Warrant Activity
A summary of the Company's June 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  742,991  $2.02-$2.32  2.03  5.47
Exercised  —  —  —  — 
Expired  —  —  —  — 
Balance at June 30, 2018  742,991  $2.02-$2.32  2.03  5.47
Vested and Exercisable at June 30, 2018  —  $2.02-$2.32  2.03  — 
February 2018 Warrants  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used
The assumptions used in the BSM model for the February 2018 warrants are as follows:

Six Months Ended June 30, 2018 Year Ended December 31, 2017
Risk-free interest rate
2.71%-2.74%
N/A 
Volatility
80%
N/A 
Expected life (years)
4.63-5.13
N/A
Dividend yield —%    N/A 
Schedule of Warrant Activity
A summary of the Company's 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  5.15
Exercised  —  —  $ —  — 
Expired  —  —  $ —  — 
Balance at June 30, 2018  2,273,700  $ 2.80  $ 2.80  5.15
Vested and Exercisable at June 30, 2018  —  $ 2.80  $ 2.80  — 
2017 Warrants  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used
The assumptions used in the BSM and MCM models for the February 2017 warrants are as follows:
 
Six Months Ended June 30, 2018 Year Ended December 31, 2017
Risk-free interest rate 2.66% 1.68%-1.86%
Volatility 80.00%    80.00%-160.11%
Expected life (years) 3.62 0.5-5.0
Dividend yield —%    —%   
Schedule of Warrant Activity
A summary of the Company's 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
Balance at January 1, 2018 419,772  $1.35-$1.50 1.46  4.38
Granted —  —  $ —  — 
Exercised (9,752) —  $ 1.50  — 
Expired —  —  $ —  — 
Balance at June 30, 2018 410,020  $ 1.50  $ 1.50  3.63
Vested and Exercisable at June 30, 2018 410,020  $ 1.50  $ 1.50  3.63