Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.19.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2019
Fair Value Measurements [Abstract]  
Fair Value Measurements

15.  Fair Value Measurements

The following tables present assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. 

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Fair Value Measurements at September 30, 2019



  Total  

Level 1

Level 2

Level 3

Assets:

 

 

 

 

 

 

 

 

     Commercial Paper

$

 3,979,830 

$

 -

$

 3,979,830 

$

 -

     Corporate Bonds

 

 2,001,710 

 

 -

 

 2,001,710 

 

 -

Total Assets:

$

 5,981,540 

$

 -

$

 5,981,540 

$

 -



 

 

 

 

 

 

 

 

Liabilities: 

 

 

 

 

 

 

 

 

     Warrant Liabilities

$

 123,872 

$

-

$

-

$

 123,872 







 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2018



  Total  

Level 1

Level 2

Level 3

Assets:

 

 

 

 

 

 

 

 

     Corporate Bonds

$

 5,981,520 

$

 -

$

 5,981,520 

$

 -



 

 

 

 

 

 

 

 

Liabilities: 

 

 

 

 

 

 

 

 

     Warrant Liabilities

$

 2,307,586 

$

-

$

-

$

 2,307,586 



There have been no changes in the methodologies used at September 30, 2019 and December 31, 2018, and no transfers between Level 1, 2 and 3 during the nine months ended September 30, 2019.



The reconciliation of changes to the fair value of the Company’s warrant liabilities for the nine months ended September 30, 2019 is as follows:







 

 

 



 

Warrant Liabilities

Balance at January 1, 2019

 

$

 2,307,586 

Unrealized gains, net

 

 

 (2,183,714)

Balance at September 30, 2019

 

$

 123,872