XML 55 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Warrants (Tables)
 12 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Significant assumptions in valuing the warrants issued
 

Warrants Issued During

the Year Ended June 30, 2020

  
Expected volatility 100 - 153%  
Equivalent term (years) 1 - 5  
Risk-free rate 0.20% - 1.91%  
Dividend yield 0.00%  
Warrant activity

A summary of equity-based warrants is as follows:

 

     Number of Warrants      Weighted Average Exercise Price      Weighted Average Remaining Contractual Life in Years  
                   
Outstanding June 30, 2018     1,641,906     $ 19.19       4.67  
Warrants issued     14,827,009     $ 1.35       –  
Warrants expired     –       –       –  
Warrants exercised     (250,007 )     –       –  
Outstanding June 30, 2019     16,218,908     $ 3.15       4.36  
Warrants issued     44,627,120     $ 1.21       –  
Warrants expired     –       –       –  
Warrants exercised (*)     (37,961,490 )     –       –  
Outstanding June 30, 2020     22,884,538     $ 3.06       2.00  

 

(*) During the three months March 31, 2020, an investor exercised 5.0 million of the October 2019 private placement warrants under the cashless exercise provision. In April 2020, another investor exercised all remaining 5.0 million October 2019 private placement warrants. There are no more October 2019 private placement warrants outstanding as of June 30, 2020.

 

A summary of liability warrants is as follows:

 

     Number of Warrants      Weighted Average Exercise Price      Weighted Average Remaining Contractual Life in Years  
Outstanding June 30, 2018     240,755     $ 72.00       4.13  
Warrants expired     –       –       –  
Warrants exercised     –       –       –  
Outstanding June 30, 2019     240,755     $ 72.00       3.16  
Warrants expired     –       –       –  
Warrants exercised     –       –       –  
Outstanding June 30, 2020     240,755     $ 72.00       2.13