COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS (Tables)

3 Months Ended

Mar. 31, 2020

COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS

Fair value, valuation technique, inputs

The following inputs to the model were used at March 31, 2020 and December 31, 2019:

	March 31, 2020		December 31, 2019
Stock Price	0.16		$	0.24
Exercise Price	0.50			0.50
Expected Term	7.8 years			7.8 years
Stock Volatility	40.0	%		40.0	%
Risk-Free Interest Rate	0.6	%		1.8	%

On December 27, 2019, the Company issued warrants to purchase 8,556,456 shares of common stock in connection with the exchange of its senior notes as discussed above at an exercise price of $0.35 with a three-year term.  These warrants are equity-classified.  The Company used a Black-Scholes model to determine the fair value of the warrants at the date of issuance using the following inputs to the model:

	December 27, 2019
Stock Price	$	0.23
Exercise Price	$	0.35
Expected Term		3.0 years
Stock Volatility		40.0	%
Risk-Free Interest Rate		1.6	%