Stockholders' Deficit (Q2) (Tables)
|
4 Months Ended |
6 Months Ended |
Dec. 31, 2018 |
Jun. 30, 2019 |
| Stockholders' Deficit [Abstract] |
|
|
| Option Grants |
|
Following the stockholder approval of the 2019 Incentive Award Plan, all vested options described herein will become exercisable and may be exercised through the ten-year anniversary of the grant date (or such earlier date described in the applicable award agreement following a holder’s termination of service).
Dollars in thousands except per share amounts |
Date of
grant(s)
|
|
Vesting
period
(years)
|
|
|
Number |
|
|
Exercise
price ($)
|
|
|
Share-based
payment
expense ($)
|
|
|
Risk-free
rate
|
|
|
Volatility |
|
Dividend
yield
|
|
Expiry
(yrs)
|
|
|
Remaining
Life (yrs)
|
|
Option grant |
5/21/2019 |
|
|
2 |
|
|
|
60,000 |
|
|
$ |
7.50 |
|
|
|
9 |
|
|
|
2.28 |
% |
|
|
55.00 |
% |
Nil |
|
|
10 |
|
|
|
9.9 |
|
Option grant |
5/21/2019 |
|
|
3 |
|
|
|
30,000 |
|
|
$ |
7.50 |
|
|
|
5 |
|
|
|
2.28 |
% |
|
|
55.00 |
% |
Nil |
|
|
10 |
|
|
|
9.9 |
|
Option grant |
6/29/2019 |
|
|
3 |
|
|
|
3,000 |
|
|
$ |
7.50 |
|
|
|
0 |
|
|
|
1.84 |
% |
|
|
56.00 |
% |
Nil |
|
|
10 |
|
|
|
10.0 |
|
| |
|
|
|
|
|
|
|
93,000 |
|
|
|
|
|
|
$ |
14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Significant Terms of Options Outstanding |
The following table summarizes the significant terms of options outstanding at December 31, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
|
|
|
Weighted |
|
|
average |
|
|
|
|
|
|
average |
|
|
|
|
|
|
|
|
|
average |
|
|
exercise |
|
|
|
|
|
|
exercise |
|
Range of |
|
|
Number of |
|
|
remaining |
|
|
price of |
|
|
Number of |
|
|
price of |
|
exercise |
|
|
options |
|
|
contractual |
|
|
outstanding |
|
|
options |
|
|
exercisable |
|
prices |
|
|
outstanding |
|
|
life (years) |
|
|
options |
|
|
exercisable |
|
|
options |
|
$ |
6.76 |
|
|
|
38,462 |
|
|
|
4.98 |
|
|
$ |
6.76 |
|
|
|
0 |
|
|
|
N/A |
|
|
The following table summarizes the significant terms of options outstanding at June 30, 2019:
|
Range of
exercise
prices
|
|
|
Number of
options
outstanding
|
|
|
Weighted
average
remaining
contractual
life (years)
|
|
|
Weighted
average
exercise
price of
outstanding
options
|
|
|
number of
options
exercisable
|
|
|
Weighted
average
exercise
price of
exercisable
options
|
|
$ |
5.00 – 7.50 |
|
|
|
5,381,462 |
|
|
|
9.8 |
|
|
$ |
5.06 |
|
|
|
260,545 |
|
|
|
5.04 |
|
|
| Transactions Involving Options |
Transactions involving options are summarized as follows:
| |
|
Number of |
|
|
Weighted Average |
|
| |
|
Options |
|
|
Exercise Price |
|
Options outstanding at August 31, 2016 |
|
|
- |
|
|
$ |
- |
|
Granted |
|
|
- |
|
|
|
- |
|
Exercised |
|
|
- |
|
|
|
- |
|
Cancelled / Expired |
|
|
- |
|
|
|
- |
|
Options outstanding at August 31, 2017 |
|
|
- |
|
|
$ |
- |
|
Granted |
|
|
- |
|
|
|
- |
|
Exercised |
|
|
- |
|
|
|
- |
|
Cancelled / Expired |
|
|
- |
|
|
|
- |
|
Options outstanding at August 31, 2018 |
|
|
- |
|
|
$ |
- |
|
Granted |
|
|
38,462 |
|
|
|
6.76 |
|
Exercised |
|
|
- |
|
|
|
- |
|
Cancelled / Expired |
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
Options outstanding at December 31, 2018 |
|
|
38,462 |
|
|
$ |
6.76 |
|
|
Transactions involving options are summarized below:
| |
|
Number of
Options
|
|
|
Weighted Average
Exercise Price
|
|
Acquired on May 6, 2019 |
|
|
5,288,462 |
|
|
$ |
5.00 |
|
Granted |
|
|
93,000 |
|
|
$ |
7.50 |
|
Options outstanding at June 30, 2019 |
|
|
5,381,462 |
|
|
$ |
5.04 |
|
|
| Activity of Warrants |
Transactions involving warrants are summarized as follows:
| |
|
Number of |
|
|
Weighted Average |
|
| |
|
Warrants |
|
|
Exercise Price |
|
Warrants outstanding at August 31, 2016 |
|
|
- |
|
|
$ |
- |
|
Issued |
|
|
- |
|
|
|
- |
|
Exercised |
|
|
- |
|
|
|
- |
|
Cancelled / Expired |
|
|
- |
|
|
|
- |
|
Warrants outstanding at August 31, 2017 |
|
|
- |
|
|
|
- |
|
Issued |
|
|
1,040,554 |
|
|
$ |
0.26 |
|
Exercised |
|
|
- |
|
|
|
|
|
Cancelled / Expired |
|
|
(576,923 |
) |
|
|
0.26 |
|
Warrants outstanding at August 31, 2018 |
|
|
463,631 |
|
|
$ |
0.26 |
|
Issued |
|
|
700,000 |
|
|
|
3.90 |
|
Exercised |
|
|
|
|
|
|
|
|
Cancelled / Expired |
|
|
(463,631 |
) |
|
|
0.26 |
|
| |
|
|
|
|
|
|
|
|
Warrants outstanding at December 31, 2018 |
|
|
700,000 |
|
|
$ |
3.90 |
|
|
| |
|
Number of
Warrants
|
|
|
Weighted Average
Exercise Price
|
|
Warrants Acquired on May 6, 2019 |
|
|
913,310 |
|
|
$ |
3.70 |
|
Issued
|
|
|
5,744,991 |
|
|
$ |
4.25 |
|
|
|
|
- |
|
|
|
- |
|
Canceled / expired
|
|
|
- |
|
|
|
- |
|
Warrants outstanding at June 30, 2019 |
|
|
6,658,301 |
|
|
$ |
4.39 |
|
|