Annual report pursuant to Section 13 and 15(d)

Convertible Notes and Derivative Liabilities (Tables)

v3.20.1
Convertible Notes and Derivative Liabilities (Tables)
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Convertible Notes

    December 31, 2019  
Convertible Notes:        
Principal value of 6% convertible notes issued during the six months ended June 30, 2019   $ 475  
Fair value of derivative liability of convertible notes prior to payoff date     122  
Debt discount less amortization during the period prior to payoff date     (410 )
Loss on extinguishment of derivative liabilities upon payoff of convertible notes     288  
Payoff of convertible notes     (475 )
Total carrying value of convertible notes at December 31, 2019   $ -  

Summary of Quantitative Information to Valuation Methodology and Unobservable Inputs

A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s purchase warrants that were categorized within Level 3 of the fair value hierarchy during the year ended December 31, 2019 is as follows:

 

Stock price   $ 2.77 - $4.05  
Conversion price   $ 1.60 - $2.50  
Contractual term (in years)     5  
Volatility (annual)     57.7% - 62.9 %
Risk-free rate     2.23% - 2.40 %
Dividend yield (per share)     0 %

Schedule of Changes in Level 3 Liabilities Measured at Fair Value

The following table presents changes in Level 3 liabilities measured at fair value for the year ended December 31, 2019:

 

   

Derivative

Liability -

-Warrants

   

Embedded

Conversion

Feature

Derivative

Liability

   

Total

Derivative

Liabilities

 
Balance - January 1, 2019   $ -     $ -     $ -  
Liabilities     261       159       420  
Change in fair value of warrant liability     (65 )     (37 )     (102 )
Eliminate derivative treatment     (196 )     (122 )     (318 )
Balance – December 31, 2019   $ -     $ -     $ -