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Warrants (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of the warrant liability

​

​	​	​	​
​		Level 3
Balance, December 31, 2020		$	1,780,376
Changes in fair value of derivative liability	​	​	867,000
Changes in fair value of warrant liability	​		4,769
Balance, June 30, 2021	​	$	2,652,145

Warrant liability

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of the warrant liability

​

​	​	​	​
​		Warrant Liability
Fair value at December 31, 2020	​	$	29,376
Change in fair value	​		4,769
Fair value at June 30, 2021	​	$	34,145

Schedule of assumptions of the fair value of the Company's warrant liability

​

​	​	​	​	​	​	​	​
​		As of			As of
​	​	June 30,		​	December 31,
​	​	2021		​	2020
Fair value per share of Company’s common stock	​	$	3.94	​	$	3.91	​
Dividend yield	​		0.0	%		0.0	%
Expected volatility	​		88.0	%		84.0	%
Risk free interest rate	​		0.6	%		0.3	%
Expected life (years)	​		3.44	​		4.67	​
Fair value of warrants	​	$	34,145	​	$	29,376	​

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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