Annual report pursuant to Section 13 and 15(d)

Warrant Liability (Tables)

v3.20.1
Warrant Liability (Tables)
 12 Months Ended
Dec. 31, 2019
Warrant Liability  
Schedule of warrant liability

 

 

 

 

 

 

 

 

 

 

    

Issuance date (1)

    

Issuance date (2)

 

Black-Scholes Assumptions

 

September 10, 2019

 

November 6, 2019

 

Exercise Price(1)(2)

 

$

0.014

 

$

0.014

 

Warrant Expiration Date (1)(2)

 

 

September 10, 2022

 

 

November 6, 2022

 

Stock Price (3)

 

$

0.014

 

$

0.014

 

Interest Rate (annual) (4)

 

 

1.61

%  

 

1.60

%

Volatility (annual) (5)

 

 

139.84

%  

 

138.48

%

Time to Maturity (Years)

 

 

3.0

 

 

3. 0

 

Calculated fair value per share

 

$

0.01091

 

$

0.1095

 

Future Estimated Quarterly Dividend per share(6)

 

$

 —

 

$

 —

 

 

Significant inputs into the model at the reporting period measurement dates are as follows:

 

 

 

 

 

 

 

 

 

 

    

Year ending (1) 

    

Year ending (2)

 

Black-Scholes Assumptions

 

December 31, 2019

 

December 31, 2019

 

Exercise Price(1)(2)

 

$

0.014

 

$

0.014

 

Warrant Expiration Date (1)(2)

 

 

September 10, 2022

 

 

November 6, 2022

 

Stock Price (3)

 

$

0.014

 

$

0.014

 

Interest Rate (annual) (4)

 

 

1.62

%  

 

1.62

%

Volatility (annual) (5)

 

 

137.47

%  

 

137.47

%

Time to Maturity (Years)

 

 

2.70

 

 

2.85

 

Calculated fair value per share

 

$

0.01045

 

$

0.01064

 

Future Estimated Quarterly Dividend per share(6)

 

$

 —

 

$

 —

 

(1)

Based on the terms provided in the warrant agreement related to the issuance of common stock of on September 10th, 2019

(2)

Based on the terms provided in the warrant agreement related to the issuance of common stock of on November 6th, 2019

(3)

Based on the observable transaction value of common stock of per the most recent stock issuance financing agreements.

(4)

Interest rate for U.S. Treasury Bonds, as of the issuance dates and each presented period ending date, as published by the U.S. Federal Reserve.

(5)

Based on the historical daily volatility of Guideline Public Companies and each presented period ending date.

(6)

Current estimated dividend payments beyond initial four quarters. At a future date, the company will review the working capital needs and make a final determination of any future dividend payments.

The warrants outstanding and fair values at each of the respective valuation dates are summarized below:

 

 

 

 

 

 

 

 

 

 

 

    

Warrants 

    

Fair Value

    

 

 

Warrant Liability

 

Outstanding

 

per Share

 

Fair Value

Fair Value at initial measurement date of 9/10/2019

 

1,250,000

 

$

0.01091

 

$

14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at initial measurement date of 11/6/2019

 

4,000,000

 

$

0.01085

 

$

43

Change in fair value of warrant liability

 

  

 

 

  

 

 

(1)

Fair Value as of period ending 12/31/2019

 

5,250,000

 

 

  

 

$

56