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FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2019
FAIR VALUE [Abstract]  
Schedule of Changes in Fair Value of Liability

During the years ended December 31, 2019 and 2018, the change in the fair value of the warrant liabilities measured using significant unobservable inputs (Level 3) were comprised of the following:

 

 

 

 

 

 

 

 

 

 

 

Dollars in Thousands

 

 

 

 

 

Year Ended December 31, 2019

 

 

 

2016 Warrant

 

Bridge Note

 

Total Warrant

 

 

    

Liability

    

Warrant Liabilities

    

Liabilities

    

Beginning balance at January 1

 

$

116

 

$

1,016

 

$

1,132

 

Additions:

 

 

 –

 

 

1,858

 

 

1,858

 

Total (gains) losses:

 

 

  

 

 

  

 

 

  

 

Revaluation recognized in earnings

 

 

(46)

 

 

(370)

 

 

(416)

 

Modification recognized in earnings

 

 

 –

 

 

1,128

 

 

1,128

 

Deductions – warrant exercises

 

 

 –

 

 

(2,364)

 

 

(2,364)

 

Balance at December 31

 

$

70

 

$

1,268

 

$

1,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2018

 

 

 

2016 Warrant

 

Bridge Note

 

Total Warrant

 

 

    

Liability

    

Warrant Liabilities

    

Liabilities

    

Beginning balance at January 1

 

$

841

 

$

 –

 

$

841

 

Additions:

 

 

 –

 

 

2,665

 

 

2,665

 

Total (gains) losses:

 

 

  

 

 

  

 

 

  

 

Revaluation recognized in earnings

 

 

(269)

 

 

(1,792)

 

 

(2,061)

 

Modification recognized in earnings

 

 

 –

 

 

143

 

 

143

 

Deductions – warrant liability settlement

 

 

(456)

 

 

 –

 

 

(456)

 

Balance at December 31

 

$

116

 

$

1,016

 

$

1,132

 

 

Schedule of Change in the Fair Value of the Derivative Liabilities

During the years ended December 31, 2019 and 2018, the change in the fair value of the derivative liabilities was comprised of the following:

 

 

 

 

 

 

 

 

 

 

 

    

Year Ended December 31, 2019

 

 

Bridge Notes

 

 

 

 

 

 

 

 

Redemption

 

Conversion

 

Total Derivative

 

 

Feature

 

Option

 

Liabilities

Beginning balance at January 1

 

$

30

 

$

32

 

$

62

Deductions - write-off in conjunction with convertible note conversions

 

 

(438)

 

 

(39)

 

 

(477)

Total loss:

 

 

  

 

 

  

 

 

  

Revaluation recognized in earnings

 

 

408

 

 

 7

 

 

415

Balance at December 31

 

$

 —

 

$

 —

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2018

 

 

Bridge Notes

 

 

 

 

 

 

 

 

Redemption

 

Conversion

 

Total Derivative

 

 

Feature

 

Option

 

Liabilities

Beginning balance at January 1

 

$

 —

 

$

 —

 

$

 —

Additions:

 

 

269

 

 

383

 

 

652

Deductions - write-off in conjunction with convertible note conversions

 

 

 —

 

 

(301)

 

 

(301)

Total gain:

 

 

  

 

 

  

 

 

  

Extinguishment recognized in earnings

 

 

(22)

 

 

 —

 

 

(22)

Revaluation recognized in earnings

 

 

(217)

 

 

(50)

 

 

(267)

Balance at December 31

 

$

30

 

$

32

 

$

62