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WARRANTS (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of warrants outstanding


		Warrants
Outstanding as of December 31, 2019			462,364
Warrants granted and issued			—
Warrants exercised			(264,251)
Warrants exchanged			—
Balance as of March 31, 2020			198,113

Warrants Issued with Series A Preferred Stock | 2017 Warrants

Schedule of fair value of warrants using the Black Scholes option pricing model

The fair value of warrants issued is estimated using the Black‑Scholes option pricing model with the following assumptions for the 2017 Warrants.


Contractual term (in years)		10.0
Volatility		74.48	%
Risk-free interest rate		3.20	%
Dividend yield		0.00	%

Warrants Issued with Series B Preferred Stock | 2018 Warrants

Schedule of fair value of warrants using the Black Scholes option pricing model

The fair value of the 2018 Warrants was estimated using the Black‑Scholes option pricing model with the following assumptions:


Contractual term (in years)		10.0
Volatility		74.48	%
Risk-free interest rate		3.20	%
Dividend yield		0.00	%

Warrants Issued with Series B Preferred Stock | 2019 Warrants

Schedule of fair value of warrants using the Black Scholes option pricing model

The fair value of the 2019 Warrants was estimated using the Black-Scholes option pricing model with the following assumptions:


Contractual term (in years)		10.0
Volatility		73.22	%
Risk-free interest rate		2.70	%
Dividend yield		0.00	%