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Fair Value Measures (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis and Nonrecurrent Basis

The Company’s assets and liabilities measured at fair value on a recurring and nonrecurrent basis at December 31, 2018 consisted of the following:

 

 

 

Fair Value Measurement at December 31, 2018

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents — money market fund

 

$

29,375,509

 

 

$

29,375,509

 

 

$

 

 

$

 

Warrant liability

 

 

65,000

 

 

 

 

 

 

 

 

 

65,000

 

The Company’s assets and liabilities measured at fair value on a recurring and nonrecurrent basis at December 31, 2017 consisted of the following:

 

 

 

Fair Value Measurement at December 31, 2017

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents — money market fund

 

$

8,940,897

 

 

$

8,940,897

 

 

$

 

 

$

 

Restricted cash — money market fund

 

 

3,500,000

 

 

 

3,500,000

 

 

 

 

 

 

 

Warrant liability

 

 

(3,400,869

)

 

 

 

 

 

 

 

 

 

(3,400,869

)

Embedded derivative

 

 

(27,236

)

 

 

 

 

 

 

 

 

(27,236

)