Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.1
Basis of presentation, principles of consolidation and significant accounting policies (Tables)
3 Months Ended
Mar. 31, 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 March 31, 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 March 31, 2019: $ 2,386  $ —  $ —  $ 2,386 
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 December 31, 2018 and then is adjusted for the issuances and exercises that occurred during the first 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. 
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) — 
Issuances of warrants 1,407  —  1,407 
Change in fair value - net (529) —  (529)
Balance, March 31, 2019 $ 2,386  $ —  $ 2,386 
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:
March 31,
2019 2018
Warrants 6,777,015  2,941,524 
Stock options 2,769,000  1,575,000 
Total Common Stock Equivalents 9,546,015  4,516,524