Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments Fair Value Measurements (Tables)

v3.20.2
Financial Instruments Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis

The fair value hierarchy table for the periods indicated is as follows:

 

    Fair Value Measurement on a Recurring Basis at Reporting Date Using(1)
    Level-1     Level-2     Level-3        
    Inputs     Inputs     Inputs     Total  
June 30, 2020                                
Senior Secured Convertible Note - November 2019                   $ 12,300     $ 12,300  
Senior Secured Convertible Note - April 2020   $     $     $ 3,900     $ 3,900  
Totals   $     $     $ 16,200     $ 16,200  
                                 
December 31, 2019                                
Senior Secured Convertible Note - December 2018                   $ 1,700     $ 1,700  
Senior Secured Convertible Note - November 2019   $     $     $ 6,439     $ 6,439  
Totals   $     $     $ 8,139     $ 8,139  

 

(1) As noted above, as presented in the fair value hierarchy table, Level-1 represents quoted prices in active markets for identical items, Level-2 represents significant other observable inputs, and Level-3 represents significant unobservable inputs. There were no transfers between the respective Levels during the six-month period ended June 30, 2020.
Schedule of Fair Value Assumption Used

Fair Value Assumptions – June 30, 2020:

 

   

November 2019

Senior Secured

Convertible Note

Series A & Series B

   

April 2020

Senior

Convertible Note

 
Required rate of return     29 %     68 %
Conversion Price   $ 1.60     $ 5.00  
Expected term (years)     1.25       1.83  
Volatility     79 %     65 %
Risk free rate     0.16 %     0.16 %
Dividend yield     0 %     0 %

 

Fair Value Assumptions – June 30, 2019:

 

Required rate of return     11.1 %
Conversion Price   $ 1.60  
Expected term (years)     1.51  
Volatility     53 %
Risk free rate     1.8 %
Dividend yield     0 %