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Warrants (Tables)
 6 Months Ended
Dec. 31, 2019
Warrants Tables Abstract  
Summary of significant assumptions in valuing the warrants issued
   

 As of

October 11,

2019

  
Expected volatility     1.53  
Equivalent term (years)     5  
Risk-free rate     1.59 %
Dividend yield     0.00 %
Summary of all warrants

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, 2019     16,218,908     $ 3.15       4.36  
Warrants issued (*)     10,000,000       1.25       5.00  
Warrants expired     –       –       –  
Warrants exercised     –       –       –  
Outstanding December 31, 2019     26,218,908     $ 2.43       4.21  

 

(*) In January 2020, and investor exercised 2.0 million of the October 2019 private placement warrants under the cashless exercise provision.

  

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, 2019     240,755     $ 72.00       3.16  
Warrants expired     –       –       –  
Warrants exercised     –       –       –  
Outstanding December 31, 2019     240,755     $ 72.00       2.65