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LOAN PAYABLE (Tables)
9 Months Ended
Sep. 30, 2021
LOAN PAYABLE  
Schedule of key assumptions

The Company estimated the fair value of the Warrant using the Black-Scholes model based on the following key assumptions:

Exercise price

    

$

4.08

 

Common share price on date of issuance

$

6.80

Volatility

 

195.9

%

Risk-free interest rate

 

2.63

%

Expected dividend yield

 

--

%

Contractual term (in years)

 

7.00 years

Schedule of loan payable

The loan payable as of September 30, 2021 and December 31, 2020 is as follows:

September 30, 

    

December 31,

(in thousands)

2021

 

2020

Loan payable

$

30,000

$

30,000

End of term fee

 

975

 

975

 

30,975

 

30,975

Less: unamortized debt issuance costs

 

(386)

 

(1,080)

 

30,589

 

29,895

Less: principal payments

(14,590)

Total loan payable

15,999

29,895

Less: current portion

 

(15,999)

 

(22,179)

Loan payable non-current

$

$

7,716