| Schedule of warrants vested and outstanding |
| | | | | | | | Amount | | | | Exercise | | | Term | | | Vested and | | Source | | Price | | | (Years) | | | Outstanding | | Pre 2015 Common Stock Warrants | | $ | 1.00 | | | 6-10 | | | | 4,000,000 | | 2015 Common Stock Warrants | | $ | 1.15-5.00 | | | 5-10 | | | | 442,000 | | Common Stock Warrants to Series B Stockholders | | $ | 0.00 | | | | 5 | | | | 1,031,250 | | 2016 Common Stock Warrants to Service Providers | | $ | 1.15 | | | | 10 | | | | 40,000 | | 2016 Series C Common Stock Warrants to Placement Agent | | $ | 0.40 | | | | 5 | | | | 125,000 | | 2017 Series D Common Stock Warrants to Placement Agent | | $ | 0.25 | | | | 5 | | | | 480,000 | | 2017 Common Stock Warrants to Service Provider | | $ | 0.41 | | | | 5 | | | | 125,000 | | 2018 Emerald Financing Warrants | | $ | 0.10 | | | | 5 | | | | 44,200,000 | | Emerald Multi Draw Credit Agreement Warrants | | $ | 0.50 | | | | 5 | | | | 7,500,000 | | Total warrants vested and outstanding as of September 30, 2019 | | | | | | | | | | | 57,943,250 | |
|
|
|
|
|
|
|
|
|
|
Amount
|
|
|
|
|
Exercise
|
|
|
Term
|
|
|
Vested and
|
|
|
Source
|
|
Price
|
|
|
(Years)
|
|
|
Outstanding
|
|
|
Pre 2015 Common Stock Warrants
|
|
$ |
1.00 |
|
|
6-10
|
|
|
|
4,000,000 |
|
|
2015 Common Stock Warrants
|
|
$ |
1.15-$5.00
|
|
|
5-10
|
|
|
|
442,000 |
|
|
2015 Series B Financing
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock Warrants to Series B Stockholders
|
|
$ |
0.00 |
|
|
|
5 |
|
|
|
1,031,250 |
|
|
Placement Agent Warrants
|
|
$ |
0.00 |
|
|
|
5 |
|
|
|
187,500 |
|
|
2016 Common Stock Warrants to Service Providers
|
|
$ |
1.15 |
|
|
|
10 |
|
|
|
40,000 |
|
|
2016 Series C Common Stock Warrants to Placement Agent
|
|
$ |
0.40 |
|
|
|
5 |
|
|
|
125,000 |
|
|
2017 Series D Common Stock Warrants to Placement Agent
|
|
$ |
0.25 |
|
|
|
5 |
|
|
|
480,000 |
|
|
2017 Common Stock Warrants to Service Provider
|
|
$ |
0.41 |
|
|
|
5 |
|
|
|
125,000 |
|
|
2018 Emerald Financing Warrants
|
|
$ |
0.10 |
|
|
|
5 |
|
|
|
44,200,000 |
|
|
2018 Emerald Multi-Draw Credit Agreement Warrants
|
|
$ |
0.50 |
|
|
|
5 |
|
|
|
2,500,000 |
|
|
Total warrants vested and outstanding as of December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
53,130,750 |
|
|
| Schedule summary of the activity of derivative liabilities |
| | Nine Months Ended September 30, 2019 | | | | December 31, 2018, Fair Value of Derivative Liabilities | | | Fair Value of Derivative Liabilities Issued | | | Change in Fair value of Derivative Liabilities | | | Reclassification of Derivatives to Equity | | | September 30, 2019, Fair Value of Derivative Liabilities | | Emerald Multi Draw Credit Agreement - compound derivative liability (1) | | $ | 219,453 | | | $ | 516,058 | | | $ | (167,905 | ) | | $ | - | | | $ | 567,606 | | Emerald Financing - warrant liability (2) | | | 15,251,413 | | | | - | | | | (1,895,193 | ) | | | - | | | | 13,356,220 | | Series B - warrant liability (3) | | | 487,500 | | | | - | | | | 38,438 | | | | (144,375 | ) | | | 381,563 | | Total derivative liabilities | | $ | 15,958,366 | | | $ | 516,058 | | | $ | (2,024,660 | ) | | $ | (144,375 | ) | | $ | 14,305,389 | | Less, noncurrent portion of derivative liabilities | | | (219,453 | ) | | | | | | | | | | | | | | | (567,606 | ) | Current balance of derivative liabilities | | $ | 15,738,913 | | | | | | | | | | | | | | | $ | 13,737,783 | |
| | Nine Months Ended September 30, 2018 | | | | December 31, 2017, Fair Value of Derivative Liabilities | | | Fair Value of Derivative Liabilities Issued | | | Change in Fair value of Derivative Liabilities | | | Reclassification of Derivatives to Equity | | | September 30, 2018, Fair Value of Derivative Liabilities | | Emerald Financing - warrant liability (2) | | $ | - | | | $ | 10,424,634 | | | $ | 192,808 | | | $ | - | | | $ | 10,617,442 | | Series B - warrant liability (3) | | | 551,322 | | | | - | | | | 1,275,669 | | | | (1,333,866 | ) | | | 493,125 | | Emerald Convertible Promissory Note - conversion liability (4) | | | 265,000 | | | | 360,000 | | | | 185,000 | | | | (810,000 | ) | | | - | | Series B Preferred Stock - conversion liability
(5) | | | 6,715 | | | | - | | | | - | | | | (6,715 | ) | | | - | | Total derivative liabilities | | $ | 823,037 | | | $ | 10,784,634 | | | $ | 1,653,477 | | | $ | (2,150,581 | ) | | $ | 11,110,567 | | Less, noncurrent portion of derivative liabilities | | | (551,322 | ) | | | | | | | | | | | | | | | - | | Current balance of derivative liabilities | | $ | 271,715 | | | | | | | | | | | | | | | $ | 11,110,567 | |
|
| | Year Ended December 31, 2018 | | | | December 31, 2017, Fair Value of Derivative Liabilities | | | Fair Value of Derivative Liabilities Issued | | | Change in Fair value of Derivative Liabilities* | | | Reclassification of Derivatives to Equity | | | December 31, 2018, Fair Value of Derivative Liabilities | | Emerald Multi-Draw Credit Agreement - compound derivative liability (1) | | $ | - | | | $ | 204,102 | | | $ | 15,351 | | | $ | - | | | $ | 219,453 | | Emerald Financing - warrant liability (2) | | | - | | | | 10,424,634 | | | | 4,826,779 | | | | - | | | | 15,251,413 | | Series B - warrant liability (3) | | | 551,322 | | | | - | | | | 1,476,044 | | | | (1,539,866 | ) | | | 487,500 | | Emerald Convertible Promissory Note - conversion liability (4) | | | 265,000 | | | | 360,000 | | | | 185,000 | | | | (810,000 | ) | | | - | | Series B Preferred Stock - conversion liability (5) | | | 6,715 | | | | - | | | | - | | | | (6,715 | ) | | | - | | Total current derivative liabilities | | $ | 823,037 | | | $ | 10,988,736 | | | $ | 6,503,174 | | | $ | (2,356,581 | ) | | $ | 15,958,366 | | Less, noncurrent portion of derivative liabilities | | | | | | | | | | | | | | | | | | | (219,453 | ) | Current balance of derivative liabilities | | | | | | | | | | | | | | | | | | $ | 15,738,913 | |
| | Year Ended December 31, 2017 | | | | December 31, 2016, Fair Value of Derivative Liabilities | | | Fair Value of Derivative Liabilities Issued | | | Change in Fair value of Derivative Liabilities | | | Reclassification of Derivatives to Equity | | | December 31, 2017, Fair Value of Derivative Liabilities | | Series B - warrant liability (3) | | $ | 1,112,308 | | | $ | - | | | $ | (560,986 | ) | | $ | - | | | $ | 551,322 | | Emerald Convertible Promissory Note - conversion liability (4) | | | - | | | | 265,000 | | | | - | | | | - | | | | 265,000 | | Series B Preferred Stock - conversion liability (5) | | | 118,821 | | | | - | | | | (102,848 | ) | | | (9,258 | ) | | | 6,715 | | Series F Preferred Stock - put option liability (6) | | | - | | | | 103,364 | | | | (103,364 | ) | | | - | | | | - | | Total derivative liabilities | | $ | 1,231,129 | | | $ | 368,364 | | | $ | (767,198 | ) | | $ | (9,258 | ) | | $ | 823,037 | | Less, noncurrent portion of derivative liabilities | | | | | | | | | | | | | | | | | | | (551,322 | ) | Current balance of derivative liabilities | | | | | | | | | | | | | | | | | | $ | 271,715 | |
|
| Schedule of the adjustment for the difference between the fair value of the warrant liabilities and the total proceeds received |
| | Closing | | | | | | | January 2018 | | | February 2018 | | | Total | | Initial Fair Value of Emerald Financing Warrant Liability | | $ | 4,717,211 | | | $ | 5,707,423 | | | $ | 10,424,634 | | Less: Proceeds from Emerald Financing | | | 1,500,000 | | | | 1,750,000 | | | | 3,250,000 | | Excess over proceeds adjustment | | $ | 3,217,211 | | | $ | 3,957,423 | | | $ | 7,174,634 | |
|
| | Closing | | | | | | | January 2018 | | | February 2018 | | | Total | | Initial Fair Value of Emerald Financing Warrant Liability | | $ | 4,717,211 | | | $ | 5,707,423 | | | $ | 10,424,634 | | Less: Proceeds from Emerald Financing | | | 1,500,000 | | | | 1,750,000 | | | | 3,250,000 | | Excess over proceeds adjustment | | $ | 3,217,211 | | | $ | 3,957,423 | | | $ | 7,174,634 | |
|