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STOCKHOLDERS' EQUITY | 9 Months Ended
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Sep. 30, 2020
STOCKHOLDERS' EQUITY |
STOCKHOLDERS' EQUITY | NOTE 11: STOCKHOLDERS’ EQUITY Common Stock Transactions Exercise of Stock Warrants During the nine months ended September 30, 2020, certain outstanding warrants were exercised for 458,334 shares of common stock providing aggregate proceeds to the Company of approximately $0.6 million. Board Compensation During the nine months ended September 30, 2020, the Company issued an aggregate of 85,110 shares of common stock to its non-employee directors. The fair value of the common stock of approximately $0.2 million was recognized as a component of stock-based compensation expense in general and administrative expenses. Aspire Capital On February 28, 2020, the Company entered into a common stock purchase agreement (the “Purchase Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”) which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $30.0 million of shares of the Company’s common stock over the 30-month term of the purchase agreement. In consideration for entering into the purchase agreement, the Company issued to Aspire Capital 345,357 shares of the Company’s common stock as a commitment fee. The Company recorded the commitment fee to additional paid in capital. As of September 30, 2020, Aspire Capital had purchased 1,407,470 shares under the Purchase Agreement , providing aggregate proceeds to the Company of approximately $2.2 million. The Company may request daily up to 0.1 million shares to be purchased with a maximum purchase commitment of 9.2 million shares over the term of the arrangement. The purchase price will generally be 97% of the stock price on the date of purchase. Share Purchase Warrants A summary of the Company’s share purchase warrants as of September 30, 2020 and changes during the period is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | Weighted Average | ​ | Remaining Contractual | ​ | Intrinsic
​ |  | Warrants |  | Exercise Price |  | Life (in years) |  | Value
Balance - January 1, 2020 |  | 22,664,000 | ​ | $ | 4.71 | ​ | 3.33 | ​ | $ | 954,000
Exercised for cash | ​ | (458,000) | ​ | ​ | 1.20 | ​ | — | ​ |  | —
Expired or cancelled | ​ | (1,242,000) | ​ | ​ | 9.75 | ​ | — | ​ |  | —
Balance - September 30, 2020 | ​ | 20,964,000 | ​ | $ | 4.49 | ​ | 2.84 | ​ | $ | —
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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