General form of registration statement for all companies including face-amount certificate companies

Warrant derivative liability (Q3) (Tables)

v3.20.2
Warrant derivative liability (Q3) (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
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 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
 
The following schedule shows the change in fair value of the derivative liabilities as at December 31, 2019.

Dollars in thousands
 
Warrant liability
 
Assumption of warrants in May Acquisitions
 
$
2,130
 
Change in fair value of  warrant derivative liability
   
90
 
Balance as of December 31, 2019
 
$
2,220
 
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
%
   
May 6, 2019
   
December 31, 2019
 
Warrant liability
           
Stock price
 
$
6.00
   
$
2.70
 
Exercise price
 
$
3.90
   
$
1.62
 
Expected remaining term (in years)
   
1.60 – 1.68
     
0.95 – 1.02
 
Volatility
   
64
%
   
69
%
Risk-free interest rate
   
2.39
%
   
1.60
%