WARRANT LIABILITY (Tables)

3 Months Ended

Mar. 31, 2021

WARRANT LIABILITY [Abstract]

Fair Value of Warrant Liability Assumptions

The fair value of the Company’s warrant liability was calculated using the Black-Scholes model and the following assumptions:

	As of March 31, 2021
Fair value of company’s common stock	$	10.11
Dividend yield		0	%
Expected volatility		85% - 168	%
Risk Free interest rate		0.16% - 0.26	%
Expected life (years)		2.58
Exercise price	$	8.00 - $28.00
Fair value of financial instruments - warrants	$	624,088

Change in Fair Value of Financial Instruments

The change in fair value of the financial instruments – warrants is as follows:

	Amount
Balance as of January 1, 2021	$	—
Fair value of warrant liability assumed in connection with Helix Merger		1,247,715
Change in fair value of warrant liability		(623,627	)
Balance as of March 31, 2021	$	624,088