Quarterly report pursuant to Section 13 or 15(d)

Warrant derivative liability (Tables)

v3.20.2
Warrant derivative liability (Tables)
 6 Months Ended
Jun. 30, 2020
Warrant derivative liability [Abstract]  
Change in Fair Value of Warrant Derivative Liability
The following schedule shows the fair value of the warrant derivative liability as of June 30, 2020 and December 31, 2019, and the change in fair value during the three and six months ended June 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
  
Warrant Liability Fair Value Measurement Inputs and Valuation Techniques
Warrant derivative liability
  
May 6, 2019
    
December 31, 2019
    
June 30, 2020
  
Stock price
  
$
6.00
    
$
2.70
    
$
1.90
  
Exercise price
  
$
3.90
    
$
1.62
    
$
0.75
  
Expected remaining term (in years)
    
1.60 - 1.68
      
0.95 - 1.02
      
0.472
  
Volatility
    
64
%
    
69
%
    
85
%
Risk-free interest rate
    
2.39
%
    
1.60
%
    
0.18
%