Annual report pursuant to Section 13 and 15(d)

DERIVATIVE LIABILITY FOR AUTHORIZED SHARE DEFICIENCY (Tables)

v3.21.2
DERIVATIVE LIABILITY FOR AUTHORIZED SHARE DEFICIENCY (Tables)
12 Months Ended
Jun. 30, 2021
DERIVATIVE LIABILITY FOR AUTHORIZED SHARE DEFICIENCY  
Schedule of the derivative liability associated with stock options and warrants

 

Presented below is a summary of the derivative liability associated with the stock options and warrants that were subject to the Company’s accounting policy as of February 17, 2021 and May 26, 2021 (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

February 17, 2021

 

 May 26, 2021

 

 

Stock

 

 

 

 

 

 

 

Stock

 

 

 

 

 

 

 

    

Options

    

Warrants

    

Total

    

Options

    

Warrants

    

Total

Number of shares

 

 

253

 

 

527

 

 

780

 

 

212

 

 

521

 

 

733

Weighted average fair value per share

 

$

6.46

 

$

3.71

 

$

4.60

 

$

4.42

 

$

1.65

 

$

2.45

Fair value of derivative liability

 

$

1,638

 

$

1,953

 

$

3,591

 

$

935

 

$

861

 

$

1,796

 

Schedule of weighted-average assumptions for the valuations performed to determine the fair value of the stock options and warrants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

February 17, 2021

 

May 26, 2021

 

 

 

Stock

 

 

 

 

 

 

 

Stock

 

 

 

 

 

 

 

 

    

Options

    

Warrants

    

Total

    

Options

    

Warrants

    

Total

 

Market price of common stock

 

$

11.99

 

$

11.99

 

$

11.99

 

$

7.69

 

$

7.69

 

$

7.69

 

Exercise price

 

$

84.19

 

$

63.88

 

$

70.48

 

$

69.96

 

$

63.67

 

$

65.49

 

Risk-free interest rate

 

 

0.6

%  

 

0.1

%  

 

0.3

%  

 

1.0

%  

 

0.2

%  

 

0.4

%

Dividend rate

 

 

0.0

%  

 

0.0

%  

 

0.0

%  

 

0.0

%  

 

0.0

%  

 

0.0

%

Remaining contractual term (years)

 

 

4.6

 

 

1.5

 

 

2.5

 

 

5.2

 

 

1.3

 

 

2.4

 

Historical volatility

 

 

112.6

%  

 

123.5

%  

 

119.9

%  

 

119.1

%  

 

99.6

%  

 

105.2

%