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
Schedule of Company's financial assets and liabilities that are measured at fair value on a recurring basis

The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019 by level within the fair value hierarchy, are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2020

 

 

 

 

Significant

 

 

 

 

 

Quoted prices

 

other

 

Significant

 

 

in active

 

  observable

 

  unobservable

 

 

markets

 

inputs

 

inputs

(in thousands)

    

(Level 1)

 

(Level 2)

    

(Level 3)

Liabilities:

 

 

  

 

 

  

 

 

  

Derivative liability

 

$

 -

 

$

 -

 

$

387

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

 

 

Significant

 

 

 

 

 

Quoted prices

 

other

 

Significant

 

 

in active

 

  observable

 

  unobservable

 

 

markets

 

inputs

 

inputs

(in thousands)

    

(Level 1)

    

(Level 2)

    

(Level 3)

Liabilities:

 

 

  

 

 

  

 

 

  

Derivative liability

 

$

 -

 

$

 -

 

$

387

Warrant liability

 

$

 -

 

$

 -

 

$

24

 

Schedule of changes in fair value of the Company's warrant liability and derivative liability measured at fair value using significant unobservable inputs (Level 3)

The following table includes a summary of changes in fair value of the Company’s derivative liability measured at fair value using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2020 and 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

For the nine months ended

(in thousands)

    

September 30, 2020

 

September 30, 2019

    

September 30, 2020

 

September 30, 2019

Beginning balance

 

$

387

 

 

387

 

$

387

 

$

 -

Additions

 

 

 -

 

 

 -

 

 

 -

 

 

216

Change in fair value

 

 

 -

 

 

 -

 

 

 -

 

 

171

Ending balance

 

$

387

 

$

387

 

$

387

 

$

387

 

Warrant [Member]  
Schedule of changes in fair value of the Company's warrant liability and derivative liability measured at fair value using significant unobservable inputs (Level 3)

The following table includes a summary of changes in fair value of the Company’s warrant liability measured at fair value using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2020 and 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

For the nine months ended

 

    

September 30, 2020

    

September 30, 2019

    

September 30, 2020

    

September 30, 2019

Beginning balance

 

$

 -

 

$

39

 

$

24

 

$

210

Additions

 

 

 -

 

 

 -

 

 

 -

 

 

 4

Change in fair value

 

 

 -

 

 

(18)

 

 

(24)

 

 

(193)

Ending balance

 

$

 -

 

$

21

 

$

 -

 

$

21

 

Schedule of the weighted average significant unobservable inputs (Level 3 inputs) used in measuring the Company's warrant liability that is categorized within Level 3 of the fair value hierarchy

A summary of the weighted average significant unobservable inputs (Level 3 inputs) used in measuring the Company’s warrant liability that is categorized within Level 3 of the fair value hierarchy as of September 30, 2020 and December 31, 2019 is as follows:

 

 

 

 

 

 

 

 

 

 

    

As of

 

 

    

September 30, 2020

    

December 31, 2019

 

Common Stock Price

 

$

1.90

 

$

12.20

 

Term (Years)

 

 

2.51

 

 

3.26

 

Volatility

 

 

66

%  

 

62

%

Risk-free rate of interest

 

 

0.15

%  

 

1.62

%

Dividend Yield

 

 

0.0

%  

 

0.0

%