DERIVATIVE FINANCIAL LIABILITY AND CONVERTIBLE NOTE (Tables)

12 Months Ended

Dec. 31, 2018

DERIVATIVE FINANCIAL LIABILITY AND CONVERTIBLE NOTE

Schedule of key assumptions used in binomial tree model to estimate fair value

Valuation Date	November 17, 2017			December 31, 2017			December 31, 2018
Price of Common Shares	$	87.27		$	60.00		$	0.6030
Dividend Yield		0	%		0	%		0	%
Historical volatility of Common Shares		122.99	%		121.70	%		141.96	%
Historical volatility of index		14.28	%		14.43	%		15.37	%
Volatility input		68.63	%		68.07	%		78.67	%
Risk-free rate		2.08	%		2.20	%		2.52	%
Credit spread		32.63	%		34.24	%		24.51	%

Schedule of carrying amounts of derivative financial liabilities and convertible notes

The carrying amounts for the derivative financial liabilities are as follows:

	Series A Units		Series B Units		Series E Warrants		Total
Fair value, November 17, 2017	$	13,139,650	$	67,810,835	$	8,519,788	$	89,470,273
Add: Deferred loss		(7,054,787)		(36,408,201)		(1,669,271)		(45,132,259)
Amortization of deferred loss		390,379		2,067,557		41,732		2,499,668
Less:
Fair value adjustment on exercised warrants		—		(511,122)		—		(511,122)
Exercise of Series D Warrants		—		(1,108,306)		—		(1,108,306)
Fair value adjustment, December 31, 2017		(1,542,457)		(2,911,914)		(3,934,853)		(8,389,224)
Balance, Derivative financial liability December 31, 2017	$	4,932,785	$	28,938,849	$	2,957,396	$	36,829,030
Add:
Amortization of deferred loss		6,664,408		34,340,644		1,627,539	$	42,632,591
Less:
Exercise of 1,698,841 Series D Warrants		—		(1,004,185)		—		(1,004,185)
Exercise of 11,170,788 Series B Warrants		(303,919)		(6,250,110)		—		(6,554,029)
Exercise of 21,041,660 Series F Warrants		—		(26,552,270)		—		(26,552,270)
Exercise of 14,505,580 Series B Warrants		(11,614,224)		(14,820,745)		—		(26,434,969)
Exercise of 8,951,780 Series C Warrants		(833,987)		(3,371,375)		—		(4,205,362)
Exercise of 1,389,846 Series F Warrants		—		(2,532,855)		—		(2,532,855)
Exercise of 500,000 Series C Warrants				(253,887)				(253,887)
Fair value adjustment, December 31, 2018		1,190,630		(8,411,543)		(4,512,848)		(11,733,761)
Balance, Derivative financial liability December 31, 2018	$	35,693	$	82,523	$	72,087	$	190,303
Derivative financial liability, current							$	—
Derivative financial liability, non-current							$	190,303

The carrying amounts for the Convertible Notes are as follows:

	Convertible
	Notes
Fair value, November 17, 2017	$	26,100,900
Add: Deferred loss		(5,113,917)
Amortization of deferred loss		852,319
Fair value adjustment, December 31, 2017		(1,831,743)
Balance, Convertible Notes December 31, 2017	$	20,007,559
Add:
Amortization of deferred loss		4,261,598
Less:
Exercise of 5,567,500 Convertible Notes		(5,146,924)
Exercise of 1,772,500 Convertible Notes		(1,536,596)
Exercise of 10,300,000 Convertible Notes		(13,872,312)
Fair value adjustment, December 31, 2018		10,904,011
Balance, Convertible Notes December 31, 2018	$	14,617,336
Convertible Notes, current	$	1,423,224
Convertible Notes, non-current	$	13,194,112