Quarterly report pursuant to Section 13 or 15(d)

2019 REGISTERED DIRECT OFFERING (Tables)

v3.19.3.a.u2
2019 REGISTERED DIRECT OFFERING (Tables) - Registered Direct Offering 2019 [Member]
3 Months Ended
Dec. 31, 2019
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

 

 

 

 

 

 

 

Fair Value Measurements Using Significant Unobservable Inputs

    

December 31, 

    

September 30, 

(Level 3)

 

2019

 

2019

Beginning balance at September 30, 2019 and 2018

 

$

1,247,415

 

$

 —

 

 

 

 

 

 

 

Issuances

 

 

 —

 

 

1,628,113

 

 

 

 

 

 

 

Adjustments to estimated fair value

 

 

40,187

 

 

(380,698)

 

 

 

 

 

 

 

Ending balance at December 31, 2019 and September 30, 2019

 

$

1,287,602

 

$

1,247,415

 

Schedule of assumptions used to value derivative liabilities

The derivative liabilities were valued as of December 31, 2019, September 30, 2019 and May 14, 2019 using the Black Scholes Model with the following assumptions:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 

    

September 30, 

    

May 14,

 

 

 

2019

 

2019

 

2019

 

Closing price per share of common stock

 

$

0.25

 

$

0.24

 

$

0.283

 

Exercise price per share

 

$

0.40

 

$

0.40

 

$

0.40

 

Expected volatility

 

 

92.91

%

 

92.11

%

 

93.44

%

Risk-free interest rate

 

 

1.66

%

 

1.55

%

 

2.20

%

Dividend yield

 

 

 —

 

 

 —

 

 

 —

 

Remaining expected term of underlying securities (years)

 

 

4.36

 

 

4.61

 

 

5.00