Annual report pursuant to Section 13 and 15(d)

Molteni Purchase Agreement (Tables)

v3.19.1
Molteni Purchase Agreement (Tables)
 12 Months Ended
Dec. 31, 2018
Purchase Agreement [Line Items]  
Contract with Customer, Asset and Liability [Table Text Block]
The following table presents changes in contract assets and liabilities during the year ended December 31, 2018:
 
(in thousands)
 
Beginning Balance
 
 
Additions
 
 
Deductions
 
 
Ending

Balance
 
Year ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contract assets
 
$
—
 
 
$
291
 
 
$
(192
)
 
$
99
 
Contract liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred revenue
 
$
—
 
 
$
2,448
 
 
$
(2,135
)
 
$
313
 
Convertible Debt [Member]  
Purchase Agreement [Line Items]  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
The key assumptions used to value the Convertible Loan embedded derivative were as follows:
 
Assumption
 
 
 
Date of issuance
 
 
September 18, 2018
  
Expected price volatility
 
 
87
%
Expected term (in years)
 
 
0.75
 
Risk-free interest rate
 
 
2.32
%
Dividend yield
 
 
0.00
%
Fair value of conversion provision
 
$
158,530
 
 
Assumption
 
 
 
Valuation date
 
 
December 31, 2018
  
Expected price volatility
 
 
135
%
Expected term (in years)
 
 
0.50
 
Risk-free interest rate
 
 
2.51
%
Dividend yield
 
 
0.00
%
Fair value of conversion provision
 
$
25,064