Annual report pursuant to Section 13 and 15(d)

Debt Agreements (Tables)

v3.19.1
Debt Agreements (Tables)
 12 Months Ended
Dec. 31, 2018
Restatement Due To Trigger Down Round Provision [Member]  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
We calculated the dividend of approximately $0.3 million resulting from the trigger of the down round provision on September 25, 2018 using the Black Scholes Option Pricing Model and the assumptions indicated in the table below:
 
Assumption
 
Pre-reset
 
 
Post-reset
 
Exercise price per share
 
$
11.76
 
 
$
1.50
  
Expected price volatility
 
 
71
%
 
 
71
%
Expected term (in years)
 
 
5.84
 
 
 
5.84
 
Risk-free interest rate
 
 
3.02
%
 
 
3.02
%
Dividend yield
 
 
0.00
%
 
 
0.00
%
Weighted-average fair value of warrants
 
$
0.30
 
 
$
0.84
 
Horizon Warrants [Member]  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
The key assumptions used to value the Horizon Warrants were as follows:
 
Assumption
 
 
 
Date of issuance
 
 
July 27, 2017
 
Expected price volatility
 
 
47
%
Expected term (in years)
 
 
7.00
 
Risk-free interest rate
 
 
2.12
%
Dividend yield
 
 
0.00
%
Weighted-average fair value of warrants
 
$
6.12
 
New Horizon Warrants [Member]  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
The key assumptions used to value the new Horizon warrants were as follows:
 
Assumption
 
 
 
Date of issuance
 
 
March 21, 2018
 
Expected price volatility
 
 
86
%
Expected term (in years)
 
 
7.00
 
Risk-free interest rate
 
 
2.82
%
Dividend yield
 
 
0.00
%
Weighted-average fair value of warrants
 
$
4.86