Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.20.2
Warrants (Tables)
6 Months Ended
Jun. 30, 2020
Schedule of Stock Warrants Activity

The following is a summary of the Company’s warrant activity:

 

    Warrants     Weighted
average
exercise price
    Weighted
average
remaining
contractual
term in years
    Aggregate
intrinsic value
 
Outstanding January 1, 2019     590,340     $ 40.65       2.32     $ 7,846,743  
Exercisable January 1, 2019     590,340     $ 40.65       2.32     $ 7,846,743  
Canceled     -                          
Granted     20,985                          
Exercised     -                          
Expired     (94,577 )                        
Outstanding December 31, 2019     516,748     $ 24.60       1.86     $ -  
Exercisable December 31, 2019     516,748     $ 24.60       1.86     $ -  
Canceled     -                          
Granted     47,604                          
Exercised     -                          
Expired     (83,604 )                        
Outstanding June 30, 2020     480,748     $ 22.08       2.48     $ -  
Exercisable June 30, 2020     480,748     $ 22.08       2.48     $ -  
Schedule of Fair value of Warrant Valuations

The Company estimates the fair value of warrants granted on each grant date using the Black-Scholes valuation model. The range of fair value assumptions related to warrants issued were as follows for the:

 

    Six-months ended
June 30, 2020
    Year ended
December 31, 2019
 
Dividend yield     0.0 %     0.0 %
Risk-free rate     0.29% – 1.55 %     1.34% – 2.37 %
Volatility     152% – 207 %     145% – 168 %
Expected term     2 – 5 years       2 – 2.5 years  
Director Warrants Grants [Member]  
Schedule of Stock Warrants Activity

During the six-months ended June 30, 2020, the Company granted its independent directors warrants as follows:

 

Date of Grant   Warrants     Exercise Price  
March 31, 2020     12,756     $ 6.00  
June 30, 2020     34,248     $ 2.25