Annual report pursuant to Section 13 and 15(d)

Derivative Liabilities (Tables)

v3.19.1
Derivative Liabilities (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative warrant instruments activity

    Amount  
       
Derivative liabilities   $ (15,916 )
         
Additional paid-in capital     66,154  
Accumulated deficit     (50,238 )
Total stockholders’ equity   $ 15,916  

Schedule of fair values of derivative warrants
Market value of common stock on measurement date (1)   $ 0.66  
Adjusted exercise price   $ 1.67  
Risk free interest rate (2)     2.09 %
Warrant lives in years     4.1 years  
Expected volatility (3)     80 %
Expected dividend yield (4)     -  
Probability of stock offering in any period over 5 years (5)     100 %
Offering price estimated as of December 31, 2017 (6)   $ 0.50  

 

(1) The market value of common stock at the above measurement dates was based on the Company's closing price quoted on the NYSE American.

 

(2) The risk-free interest rate was determined by the Company using the Treasury Bill rate as of the respective measurement date.

 

(3) The volatility was estimated using the historical volatility of the Company's common stock.

 

(4) Management does not expect to pay dividends for the foreseeable future.

 

(5) Management determines the probability of future stock offering at each evaluation date.

 

(6) Represents the estimated offering price in future offerings as determined by management.