Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis by Level Within Fair Value Hierarchy

The following tables set forth the financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2020 and December 31, 2019 (in thousands):

 

    Fair Value Measurements as of September  30, 2020  
Description   Level 1     Level 2     Level 3     Total  
Derivative liability                                
Common stock warrants   $ -     $ -     $ 1,600     $ 1,600  

 

    Fair Value Measurements as of December  31, 2019  
Description   Level 1     Level 2     Level 3     Total  
Derivative liability                                
Common stock warrants   $ -     $ -     $ 220     $ 220  
Schedule of Fair Value Measurement Hierarchy of Derivative Liability

The Company did not have any transfers of assets and liabilities between any levels of the fair value measurement hierarchy during the nine months ended September 30, 2020 and 2019 (in thousands).

 

    Common Stock
Warrants
 
Balance  as of December 31, 2018   $ (1,566 )
Change in fair value     754  
Exercise of warrants     44  
Other, net     (1 )
Balance as of September 30, 2019   $ (769 )
         
Balance  as of December 31, 2019   $ (220 )
Issuance of derivatives     (6,328 )
Change in fair value     1,750  
Exercise of warrants     3,197  
Other, net     1  
Balance as of September 30, 2020   $ (1,600 )
Schedule of Assumptions Used in Estimating Fair Value

The assumptions used in estimating the common stock warrant liability as of September 30, 2020 and December 31, 2019 were as follows:

 

    September 30, 2020     December 31, 2019  
Weighted-average risk-free interest rate     0.16%-0.28 %     1.62 %
Weighted-average expected life (in years)     2.61-4.36       3.4  
Expected dividend yield     - %     - %
Weighted-average expected volatility      139.17%-160.7 %     64 %