Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.3
Basis of presentation, principles of consolidation and significant accounting policies (Tables)
9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands):
September 30, 2019 December 31, 2018
Vendor prepayments and deposits $ 1,994    $ 238   
Prepaid insurance 560    171   
Non-trade receivables 316    56   
Other 307    375   
Total prepaid expenses and other current assets $ 3,177    $ 840   
Schedule of Financial Assets and Liabilities
The following table provides assets and liabilities reported at fair value and measured on a recurring basis at September 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 September 30, 2019: $ 6,820    $ —    $ —    $ 6,820   
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 third quarter and then is adjusted for the issuances and exercises that occurred during the third 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 September 30, 2019 Warrant Liability Current Warrant Liability Long-Term Warrant Liability Total
Balance, June 30, 2019 $ 6,944    $ —    $ 6,944   
Reclass of liability from long-term to current —    —    —   
Exercise of warrants —    —    —   
Issuances of warrants —    —    —   
Change in fair value - net (124)   —    (124)  
Balance, September 30, 2019 $ 6,820    $ —    $ 6,820   


 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 nine months ended September 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. 

Nine Months Ended September 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 11,545    —    11,545   
Change in fair value - net (3,059)   —    (3,059)  
Balance, September 30, 2019 $ 6,820    $ —    $ 6,820