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FAIR VALUE (Tables)
3 Months Ended
Mar. 31, 2020
FAIR VALUE [Abstract]  
Schedule of Changes in Fair Value of Liability

 

 

 

 

 

 

 

 

 

 

Dollars in Thousands

 

 

 

 

Three Months Ended March 31, 2020

 

    

2016 Warrant

    

Bridge Note

    

Total Warrant

 

 

 Liability

 

Warrant Liabilities

 

 Liabilities

Beginning balance at January 1

 

$

70

 

$

1,268

 

$

1,338

Total gain:

 

 

  

 

 

  

 

 

  

Revaluation recognized in earnings

 

 

(12)

 

 

(924)

 

 

(936)

Balance at March 31 

 

$

58

 

$

344

 

$

402

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2019

 

    

2016 Warrant

    

Bridge Note

    

Total Warrant

 

 

 Liability

 

Warrant Liabilities

 

 Liabilities

Beginning balance at January 1

 

$

116

 

$

1,016

 

$

1,132

Total gain:

 

 

  

 

 

  

 

 

  

Revaluation recognized in earnings

 

 

(23)

 

 

(217)

 

 

(240)

Balance at March 31 

 

$

93

 

$

799

 

$

892

 

Schedule of Change in the Fair Value of the Derivative Liabilities

During the three months ended March 31, 2019, the change in the fair value of the derivative liabilities measured using significant unobservable inputs (Level 3) was comprised of the following:

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

    

    

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2019

 

 

Bridge Notes

 

 

 

 

 

 

 

 

Redemption

 

Conversion

 

Total Derivative

 

 

Feature

 

Option

 

Liabilities

Beginning balance at January 1

 

$

30

 

$

32

 

$

62

Deductions:

 

 

 —

 

 

(39)

 

 

(39)

Total (gain) loss:

 

 

  

 

 

  

 

 

  

Revaluation recognized in earnings

 

 

(30)

 

 

 7

 

 

(23)

Balance at March 31

 

$

 —

 

$

 —

 

$

 —