Earn-out Milestone Liability (Tables)

6 Months Ended

Jun. 30, 2018

Earn-out Milestone Liability

Schedule of Changes in Earn-out Milestone Liability

The following is a summary of the changes in the earn-out milestone liability for 2018:

Balance at January 1, 2018	$	12,538,525
Non-cash charge from the adjustment for the change in fair value included in net loss		547,324
Balance at June 30, 2018	$	13,085,849

Schedule of Milestone Risk Adjustment Assessment

The following is a schedule of the Company’s risk-adjustment assessment of each milestone:

Date	Risk-adjustment Assessment of each Milestone	Discount Rate	Estimated Time to Achieve
June 30, 2018	35% to 80%	9%	0.83 to 1.00 year
March 31, 2018	35% to 80%	9%	1.08 to 1.25 years
December 31, 2017	35% to 80%	9%	1.33 to 1.50 years
June 30, 2017	50% to 80%	9%	1.50 to 2.00 years
March 31, 2017	50% to 80%	9%	1.75 to 2.25 years
December 31, 2016	50% to 80%	9%	2.00 to 2.50 years