Quarterly report pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v3.10.0.1
Warrant Liability (Tables)
9 Months Ended
Sep. 30, 2018
Class of Warrant or Right [Line Items]  
Schedule of Assumptions Used
The fair value of the option grants has been estimated, with the following weighted-average assumptions:
Nine Months Ended September 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  5 to 6.25 
Expected dividend yield  —  — 
June 2018 Warrants  
Class of Warrant or Right [Line Items]  
Schedule of Assumptions Used
The assumptions used in the BSM model for the June 2018 warrants are as follows:


Nine Months Ended September 30, 2018 Year Ended December 31, 2017
Risk-free interest rate  2.93%-2.95%  N/A 
Volatility  80%    N/A 
Expected life (years)  4.72-5.23  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 as of January 1, 2018  —  —  —  — 
Granted  742,991  $2.02-$2.32  $ 2.03  5.22
Exercised  —  —  —  — 
Expired  —  —  —  — 
Balance as of September 30, 2018  742,991  $2.02-$2.32  $ 2.03  5.22
Vested and exercisable at September 30, 2018 —  $2.02-$2.32  $ 2.03  — 
2018 Warrants  
Class of Warrant or Right [Line Items]  
Schedule of Assumptions Used
The assumptions used in the BSM model for the February 2018 warrants are as follows:

Nine Months Ended September 30, 2018 Year Ended December 31, 2017
Risk-free interest rate
2.92%-2.94% 
N/A
Volatility
80%
N/A
Expected life (years)
4.38-4.88  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  4.89
Exercised  —  —  $ —  — 
Expired  —  —  $ —  — 
Balance at September 30, 2018  2,273,700  $ 2.80  $ 2.80  4.89
Vested and Exercisable at September 30, 2018  2,273,700  $ 2.80  $ 2.80  4.89
2017 Warrants  
Class of Warrant or Right [Line Items]  
Schedule of Assumptions Used
The assumptions used in the BSM and MCM models for the February 2017 warrants are as follows:
 
Nine Months Ended September 30, 2018  Year Ended December 31, 2017
Risk-free interest rate  2.89%    1.68%-1.86% 
Volatility  77.50%    80.00%-160.11% 
Expected life (years)  3.37 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 September 30, 2018 410,020  $ 1.50  $ 1.50  3.38
Vested and exercisable at September 30, 2018 410,020  $ 1.50  $ 1.50  3.38