XML 38 R19.htm IDEA: XBRL DOCUMENT v3.20.4

Common Stock and Warrants (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Weighted Average Assumptions Used in Estimating Fair Value of Warrants

The fair value of all warrants classified as derivative financial instruments outstanding as of December 31, 2020 and 2019 were estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:

		As of December 31,
		2020				2019
Stock price		CAD $17.15				CAD $43.05
Exercise price		CAD $428.75				CAD $428.75
Warrant term		0.27 years				1.28 years
Expected volatility			64.48	%			72.43	%
Risk-free interest rate			0.06	%			1.72	%
Dividend rate			0.00	%			0.00	%

Summary of Warrants Accounted for as Liabilities and Recorded as Derivative Financial Instruments

The following table summarizes the activities of warrants that the Company accounts for as liabilities and records as derivative financial instruments for the years ended December 31, 2020 and 2019 (amounts in thousands):

		Year Ended December 31,
		2020				2019
Fair value of warrants at beginning of year		$	5			$	13,769
Exercise of warrants			—				(35	)
Foreign exchange (gains) losses			(1	)			384
Change in fair value of warrants during the year			(4	)			(14,113	)
Fair value of warrants at end of year		$	—			$	5

Summary of Warrant Activity

The following is a summary of warrant activity during the years ended December 31, 2020 and 2019:

		Number of Warrants (by currency denomination of exercise price)								Weighted-Average Exercise Price
		CAD$				USD$				CAD$				USD$
Outstanding as of December 31, 2018			95,799				18,607			$	381.15			$	428.32
Granted			—				—				—				—
Cancelled/Expired			(26,352	)			—				262.50				—
Exercised			(1,096	)			—				262.50				—
Outstanding as of December 31, 2019			68,351				18,607			$	428.75			$	428.32
Granted			—				273,554				—				16.04
Cancelled/Expired			—				(18,607	)			—				428.32
Exercised			—				—				—				—
Outstanding and exercisable as of December 31, 2020			68,351				273,554			$	428.75			$	16.04

Warrants Outstanding and Exercisable

The following table summarizes the Company’s warrants outstanding and exercisable as of December 31, 2020:

Number of Warrants Outstanding				Exercise Price		Expiration Date
	68,351			CAD$428.75		April 21, 2021
	178,776			US$16.10		March 20, 2025
	17,431			US$16.1665		October 26, 2023
	76,386			US$15.82		October 26, 2023
	961			US$19.775		October 26, 2023
	341,905

April 2018 Offering

Summary of Weighted Average Assumptions Used in Estimating Fair Value of Warrants

The following table summarizes the weighted average assumptions used in estimating the fair value of the warrants granted in the April 2018 Offering using the Black-Scholes option pricing model as of the date of the initial closing of the offering and the date of the closing of the over-allotment option, as well as of December 31, 2020.

		December 31, 2020				April 24, 2018				April 13, 2018
Stock price		CAD $17.15				CAD $376.60				CAD $344.75
Exercise price		CAD $428.75				CAD $428.75				CAD $428.75
Warrant term		0.27 years				3.00 years				3.00 years
Expected volatility			64.48	%			64.49	%			64.20	%
Risk-free interest rate			0.06	%			2.02	%			1.99	%
Dividend rate			0.00	%			0.00	%			0.00	%

March 2020 Offering

Summary of Weighted Average Assumptions Used in Estimating Fair Value of Warrants

The following table summarizes the weighted average assumptions used in estimating the fair value of the warrants granted in the March 2020 Offering using the Black-Scholes option pricing model as of the date of the closing of the offering on March 20, 2020.

		March 20, 2020
Stock price		$	12.25
Exercise price		$	16.10
Warrant term		5.50 years
Expected volatility			82.41	%
Risk-free interest rate			0.52	%
Dividend rate			0.00	%

October 2020 Private Placement Offering

Summary of Weighted Average Assumptions Used in Estimating Fair Value of Warrants

The following table summarizes the weighted average assumptions used in estimating the fair value of the warrants granted in the October 2020 Offering using the Black-Scholes option pricing model as of the date of the closing of the offering on October 26, 2020.

		October 26, 2020
Stock price		$	15.92
Exercise price			15.92
Warrant term		3.00 years
Expected volatility			80.91	%
Risk-free interest rate			0.18	%
Dividend rate			0.00	%

X

- Definition

Schedule of fair value of warrants.

+ References

No definition available.

+ Details

Name:	hsdt_ScheduleOfFairValueOfWarrantsTableTextBlock
Namespace Prefix:	hsdt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of summary of warrant activity.

+ References

No definition available.

+ Details

Name:	hsdt_ScheduleOfSummaryOfWarrantActivityTableTextBlock
Namespace Prefix:	hsdt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of weighted average assumptions used for fair value of warrants.

+ References

No definition available.

+ Details

Name:	hsdt_ScheduleOfWeightedAverageAssumptionsUsedForFairValueOfWarrantsTableTextBlock
Namespace Prefix:	hsdt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_SubsidiarySaleOfStockAxis=hsdt_AprilTwoThousandEighteenOfferingMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_SubsidiarySaleOfStockAxis=hsdt_MarchTwoThousandTwentyOfferingMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_SubsidiarySaleOfStockAxis=us-gaap_PrivatePlacementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: