XML 17 R37.htm IDEA: XBRL DOCUMENT v3.20.1
Warrants (Tables)
 9 Months Ended
Mar. 31, 2020
Warrants Tables Abstract  
Summary of significant assumptions in valuing the warrants issued
     Warrants Issued Three Months Ended March 31, 2020  
Expected volatility     100 %
Equivalent term (years)     1 - 5  
Risk-free rate     0.20% - 0.66 %
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     44,627,120       1.21       1.88  
Warrants expired     –       –       –  
Warrants exercised (*)     (29,859,990 )     –       –  
Outstanding March 31, 2020     30,986,038     $ 2.39       2.31  

 

(*) During the quarter ended March 31, 2020, 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 April 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, 2019     240,755     $ 72.00       3.16  
Warrants expired     –       –       –  
Warrants exercised     –       –       –  
Outstanding March 31, 2020     240,755     $ 72.00       2.37