Quarterly report pursuant to Section 13 or 15(d)

Warrant derivative liability (Tables)

v3.20.2
Warrant derivative liability (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Change in Fair Value of Warrant Derivative Liability
The following schedule shows the fair value of the warrant derivative liability as of September 30, 2020 and December 31, 2019, and the change in fair value during the three and nine months ended September 30, 2020:
Dollars in thousands Warrant derivative liability
Balance as of December 31, 2019 $ 2,220 
Change in fair value of derivative liability (1,379)
Balance as of March 31, 2020 $ 841 
Change in fair value of derivative liability 3,474 
Balance as of June 30, 2020 $ 4,315 
Change in fair value of derivative liability (4,213)
Balance as of September 30, 2020 $ 102 
Warrant Derivative Liability Fair Value Assumptions
Warrant derivative liability May 6,
2019		 December 31, 2019 September 30, 2020
Stock price $ 6.00  $ 2.70  $ 0.49 
Exercise price $ 3.90  $ 1.62  $ 0.65 
Expected remaining term (in years)
1.60 - 1.68
0.95 - 1.02
 0.22 
Volatility 64  % 69  % 75  %
Risk-free interest rate 2.39  % 1.60  % 0.09  %