Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Derivative Warrants Liability (Tables)

v3.8.0.1
Derivative Warrants Liability (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Warrants Liability [Abstract]  
Schedule of outstanding warrants and terms

 

Issuance date   Outstanding as of December 31,
2016		     Outstanding as of December 31, 2017     Exercise
Price		     Exercisable as of
December 31,
2017		     Exercisable
Through
                             
Series (2015)     3,106,000       3,106,000     $ 0.5       3,106,000     May 2018
Series (2016)     4,518,406       2,853,406     $ 0.5       2,853,406     May 2019
              5,959,406                    
Schedule of derivative warrant liabilities

 

    As of
December 31,
2017		     As of
December 31,
2016		  
    Series (2015)     Series (2016)     Series (2015)     Series (2016)  
Share price (U.S. dollars)   $ 0.59     $ 0.59     $ 0.15     $ 0.15  
Exercise price (U.S. dollars)   $ 0.5     $ 0.5     $ 0.5     $ 0.5  
Expected volatility     67 %     67 %     100 %     100 %
Risk-free interest rate     1.0 %     1.0 %     1.0 %     1.0 %
Dividend yield     —       —       —       —  
Expected term (years)     0.37       0.77       1.37       2.25
Schedule of stock options derivative warrant liabilities

 

    Series
(2015)		     Series (2016)     Total  
Balances at December 31, 2016   $ 76,768     $ 182,948     $ 259,716  
Exercised     -       (297,200 )     (297,200 )
Cancelled     -       -       -  
Changes in fair value     477,648       623,581       1,101,229  
Balances at December 31, 2017   $ 554,416     $ 509,329     $ 1,063,745