Quarterly report pursuant to Section 13 or 15(d)

Basis of presentation, principles of consolidation and significant accounting policies (Tables)

v3.19.2
Basis of presentation, principles of consolidation and significant accounting policies (Tables)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Schedule of Financial Assets and Liabilities
The following table provides assets and liabilities reported at fair value and measured on a recurring basis at June 30, 2019 and at December 31, 2018 (in thousands):
 
Description
Liabilities
Measured at Fair
Value
Quoted Prices
in Active
Markets for
Identical
Assets (Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Other
Unobservable Inputs
(Level 3)
Fair value of warrant liability as of June 30, 2019: $ 6,944  $ —  $ —  $ 6,944 
Fair value of warrant liability as of December 31, 2018: $ 1,508  $ —  $ —  $ 1,508 
Schedule of Level 3 Liabilities The table below (in thousands) of Level 3 liabilities begins with the valuation as of the beginning of the second quarter and then is adjusted for the issuances and exercises that occurred during the second quarter of 2019 and adjusts for balances for changes in fair value that occurred during the current quarter. The ending balance of the Level 3 financial instrument presented
above represents our best estimates and may not be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. 

Three months ended June 30, 2019 Warrant Liability – Current Warrant Liability –Long-Term Warrant Liability –Total
Balance, March 31, 2019 $ 2,386  $ —  $ 2,386 
Reclass of liability from long-term to current —  —  — 
Exercise of warrants (3,174) —  (3,174)
Issuances of warrants 10,139  —  10,139 
Change in fair value - net (2,407) —  (2,407)
Balance, June 30, 2019 $ 6,944  $ —  $ 6,944 


 The table below (in thousands) of Level 3 liabilities begins with the valuation as of December 31, 2018 and then is adjusted for the issuances and exercises, and changes in fair value that occurred during the six months ended June 30, 2019. The ending balance of the Level 3 financial instrument presented above represents our best estimates and may not be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. 

Six months ended June 30, 2019 Warrant Liability – Current
Warrant
Liability –
Long-Term
Warrant
Liability –
Total
Balance, December 31, 2018 $ 180  $ 1,328  $ 1,508 
Reclass of liability from long-term to current 1,328  (1,328) — 
Exercise of warrants (3,174) —  (3,174)
Issuances of warrants 11,546  —  11,546 
Change in fair value - net (2,936) —  (2,936)
Balance, June 30, 2019 $ 6,944  $ —  $ 6,944 
Schedule of Antidilutive Securities The Company’s potentially dilutive securities, which were not included in the calculation of net loss per share as inclusion of these securities would have been anti-dilutive are summarized in the table below:
June 30,
2019 2018
Warrants 2,814,000  3,784,515 
Stock options 10,613,998  2,754,000 
Total Common Stock Equivalents 13,427,998  6,538,515