Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.20.2
Fair Value (Tables)
3 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of reconciliation of fair values

Fair value balance as of June 30, 2020

$

14,131,000

 

Change in fair value reported in the statements of operations
(778,000 )

Change in fair value reported in other comprehensive income 

 

70,000

 

Fair value balance as of September 30, 2020

$

13,423,000

 

Schedule of fair value by using key inputs

Fair Value Assumptions - Convertible Notes

 

September 30, 2020

 

 

June 30, 2020

 

Face value principal payable 

  

$

17,000,000

  

  

$

17,000,000

  

Original conversion price

 

$

11.50

 

 

$

11.50

 

Value of Common Stock

 

$

3.64

 

 

$

8.80

 

Expected term (years)

 

 

2.67

 

 

 

2.90

 

Volatility

 

 

68

%

 

 

45

%

Market yield 

 

 

28.0

%

 

 

23.9

Risk free rate

 

 

0.1% to 0.2

%

 

 

0.2

%