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WARRANTS (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of Warrant Activity

A summary of the Legacy PCT Class B warrant activity for six months ended June 30, 2020 is as follows (in thousands except per share data):

			Number of warrants						Weighted average exercise price						Weighted average grant date fair value						Weighted average remaining contractual term (years)
Outstanding at December 31, 2019			211						$	1.00					$	30.63					4.29
Granted			—						—						—						—
Exercised			—						—						—						—
Outstanding at June 30, 2020			211						$	1.00					$	30.63					3.79
Exercisable			211

A summary of the Class B-1 warrant activity for the six months ended June 30, 2021 and 2020 is as follows (in thousands except per share data):

			Number of warrants						Weighted average exercise price						Weighted average grant date fair value						Weighted average remaining contractual term (years)
Outstanding at December 31, 2019			5						$	37.61					$	15.52					4.56
Granted			—						—						—						0
Exercised			—						—						—						0
Outstanding at June 30, 2020			5						$	37.61					$	15.52					4.06
Outstanding at December 31, 2020			5						$	37.61					$	15.52					3.56
Granted			—						—						—						0
Exercised			—						—						—						0
Cancelled			$	(5)					$	37.61					$	15.52					3.56
Outstanding at June 30, 2021			—						$	—					$	—					0
Exercisable			—

A summary of the RTI warrant activity for the six months ended June 30, 2021 and 2020 is as follows (in thousands, except per share data, as adjusted to show the effect of the reverse recapitalization as described in Note 1):

			Number of warrants						Weighted average exercise price						Weighted average grant date fair value						Weighted average remaining contractual term (years)
Outstanding at December 31, 2019			971						$	5.56					$	0.03					5
Granted			—						—						—						—
Exercised			—						—						—						—
Outstanding at June 30, 2020			971						$	5.56					$	0.03					4.5
Exercisable			971

			Number of warrants						Weighted average exercise price						Weighted average grant date fair value						Weighted average remaining contractual term (years)
Outstanding at December 31, 2020			971						$	5.56					$	0.03					4
Granted			—						—						—						—
Exercised			—						—						—						—
Outstanding at June 30, 2021			971						$	5.56					$	0.03					3.5
Exercisable			971

Schedule of Warrants, Valuation Assumptions

As of June 30, 2021. the Company has determined its warrants to be a Level 3 fair value measurement and used the Black-Scholes option-pricing model using the following assumptions:

Expected annual dividend yield			—		%
Expected volatility			48.51 - 50.1%
Risk-free rate of return			0.56		%
Expected option term (years)			3.5 – 3.75

X

- Definition

Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions

+ References

No definition available.

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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