Quarterly report pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v3.19.3
Warrant Liability (Tables)
9 Months Ended
Sep. 30, 2019
Warrant Liability [Abstract]  
Schedule of Warrant Activity
A summary of the Company's warrant activity during the nine months ended September 30, 2019 and related information follows: 
Number of Shares Under Warrant Range of Warrant Exercise Price per Share Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years)
Balance at January 1, 2019 3,426,711    $ 1.50    $ 2.80    $ 2.48    4.53
Granted 8,242,500    $ 1.10    $ 1.75    $ 1.51    —   
Exercised (1,413,018)   $ 1.10    $ 1.50    $ 1.10    —   
Expired —    $ —    $ —    $ —    —   
Balance at September 30, 2019 10,256,193    $ 1.10    $ 2.80    $ 1.89    4.29
Vested and Exercisable at September 30, 2019 10,256,193    $ 1.10    $ 2.80    $ 1.89    4.29
Schedule of Assumptions Used
The assumptions used in the BSM models for its outstanding warrants are as follows:

Nine Months Ended September 30, 2019 Year Ended December 31, 2018
Risk-free interest rate 1.55  % to 1.60  % 2.46  % to 2.51  %
Volatility 90.00  % to 97.50  % 75.00  % to 80.00  %
Expected life (years) 2.37 to 4.57 3.12 to 4.98
Dividend yield —%    —%