Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement

v3.19.1
Fair Value Measurement
3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value Measurement

7. FAIR VALUE MEASUREMENT

 

Assumptions utilized in the valuation of Level 3 liabilities are described as follows:

 

    For the Three Months Ended  
    March 31,  
    2019     2018  
             
Risk-free interest rate     2.40 %     1.62% - 2.63 %
Contractual term (years)     1.00       0.53- 3.25  
Expected volatility     140 %     113% - 131 %
Expected dividend yield     0.00 %     0.00 %

 

The following table sets forth a summary of the changes in the fair value of Level 3 warrant liabilities that are measured at fair value on a recurring basis:

 

Warrants Payable        
Beginning balance as of January 1, 2019   $ 5,965  
Change in fair value of warrants payable     4,924  
Ending balance as of March 31, 2019   $ 10,889  

 

See Note 5 - Accrued Issuable Equity for additional information.

 

Assets and liabilities measured at fair value on a recurring or nonrecurring basis are as follows:

 

    March 31, 2019  
    Level 1     Level 2     Level 3     Total  
Assets:                                
Marketable securities   $ 2,988,175     $ -     $ -     $ 2,988,175  
Total assets   $ 2,988,175     $ -     $ -     $ 2,988,175  
                                 
Liabilities:                                
Warrants payable   $ -     $ -     $ 10,889     $ 10,889  
Total liabilities   $ -     $ -     $ 10,889     $ 10,889  

 

    December 31, 2018  
    Level 1     Level 2     Level 3     Total  
Assets:                                
Marketable securities   $ 2,878,664     $ -     $ -     $ 2,878,664  
Total assets   $ 2,878,664     $ -     $ -     $ 2,878,664  
                                 
Liabilities:                                
Warrants payable   $ -     $ -     $ 5,965     $ 5,965  
Total liabilities   $ -     $ -     $ 5,965     $ 5,965