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Stock Warrants (Tables) | 6 Months Ended
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Jun. 30, 2019
Stock Warrants |
Summary of assumptions used by the company | The assumptions used by the Company are summarized in the following table:
|  | Issuance |
|  | Date |
Closing stock price |  | $ | 0.88 |
Expected dividends |  |  | 0 | %
Expected volatility |  |  | 90 | %
Risk free interest rate |  |  | 3.01 | %
Expected life of warrant (years) |  |  | 5.00 |
The assumptions used by the Company are summarized in the following table:
|  |  |  |  | Series A |  |  |  |
|  | December 31, |  | December 31, |  | November 18, |
|  | 2018 |  | 2017 |  | 2016 |
Closing stock price |  | $ | 0.56 |  | $ | 17.85 |  | $ | 31.15 |
Expected dividends |  |  | 0 | % |  | 0 | % |  | 0 | %
Expected volatility |  |  | 92.5 | % |  | 80 | % |  | 85 | %
Risk free interest rate |  |  | 2.50 | % |  | 1.97 | % |  | 1.58 | %
Expected life of warrant |  |  | 1.9 years |  |  | 2.9 years |  |  | 4.0 years |
|  | December 31, |  | December 31, |  | October 10, |
|  | 2018 |  | 2017 |  | 2014 |
Closing stock price |  | $ | 0.56 |  | $ | 17.85 |  | $ | 61.25 |
Expected dividends |  |  | 0 | % |  | 0 | % |  | 0 | %
Expected volatility |  |  | 110 | % |  | 80 | % |  | 95 | %
Risk free interest rate |  |  | 2.60 | % |  | 1.86 | % |  | 1.39 | %
Expected life of warrant |  |  | .79 years |  |  | 1.79 years |  |  | 5.0 years |
The assumptions used by the Company are summarized in the following table:
|  | Issuance |
|  | Date |
Closing stock price |  | $ | 18.55 |
Expected dividends |  |  | 0 | %
Expected volatility |  |  | 85 | %
Risk free interest rate |  |  | 2.42 | %
Expected life of warrant (years) |  |  | 4.92 |
Summary of the estimated fair value of the warrant liability | The following table summarizes the estimated fair value of the warrant liability (in thousands):
Balance at December 31, 2017 |  | $ | 4,083
Change in fair value of warrant liability |  |  | (4,083)
Balance at December 31, 2018 |  |  | —
Change in fair value of warrant liability |  |  | —
Balance at June 30, 2019 |  | $ | —
Summary of all warrant activity | A summary of all warrant activity for the Company for the six months ended June 30, 2019 and the year ended December 31, 2018 is as follows:
|  | Number of |  | Weighted Average
|  | Warrants |  | Exercise Price
Balance at December 31, 2017 |  | 915,138 |  | $ | 52.50
Granted |  | 18,000,713 |  |  | 1.38
Exercised |  | — |  |  | —
Forfeited |  | — |  |  | —
Balance at December 31, 2018 |  | 18,915,851 |  |  | 3.85
Granted |  | — |  |  | —
Exercised |  | — |  |  | —
Forfeited |  | — |  |  | —
Balance at June 30, 2019 |  | 18,915,851 |  | $ | 3.85
Summary of all outstanding and exercisable warrants | A summary of all outstanding and exercisable warrants as of June 30, 2019 is as follows:
|  |  |  |  |  |  | Weighted Average
|  |  | Warrants |  | Warrants |  | Remaining
Exercise Price |  | Outstanding |  | Exercisable |  | Contractual Life
$ | 1.38 |  | 17,999,999 |  | 17,999,999 |  | 4.29 years
| 18.20 |  | 714 |  | 714 |  | 3.49 years
| 50.05 |  | 714,286 |  | 714,286 |  | 1.39 years
| 61.25 |  | 200,852 |  | 200,852 |  | 0.28 years
$ | 3.85 |  | 18,915,851 |  | 18,915,851 |  | 4.14 years

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- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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