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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assumptions

The Company worked with a third-party valuation expert to estimate the value of the warrants at September 30, 2019 and December 31, 2018 using a Lattice model, with the following assumptions:

		September 30, 2019				December 31, 2018
Number of warrants outstanding			1,000,000				1,000,000
Expiration date			June 21, 2022				June 21, 2022
Exercise price		$	1.13			$	1.13
Stock price		$	0.51			$	0.67
Dividend yield			0	%			0	%
Average volatility rate			85	%			90	%
Risk free interest rate			1.59	%			2.47	%

Schedule of Recurring Measurements of Fair Value of Assets and Liabilities

Recurring measurements of the fair value of assets and liabilities as of September 30, 2019 and December 31, 2018 are as follows:

		September 30, 2019																December 31, 2018
		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
		(in thousands)
Assets:
Marketable Equity Securities		$	302			$	-			$	-			$	302			$	533			$	3			$	-			$	536
Liabilities:
Warrants		$	-			$	-			$	206			$	206			$	-			$	-			$	425			$	425

Schedule of Reconciliation of Changes in Liabilities Measured at Fair Value on a Recurring Basis

The following table presents a reconciliation of our Level 3 warrants measured at fair value

		Nine Months Ended September 30, 2019				Year Ended December 31, 2018
		(in thousands)
Fair value liabilities of Level 3 instruments- beginning of period		$	425			$	1,200
Net gain on warrant valuation			(219	)			(775	)
			-
Fair value liabilities of Level 3 instruments- end of period		$	206			$	425

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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