Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.2
Stockholders' Equity (Tables)
3 Months Ended
Sep. 30, 2020
Class Of Stock [Line Items]  
Schedule of Stock Option Expense

 

 

 

Three months ended

September 30,

 

 

 

2020

$

 

 

2019

$

 

Research and development

 

 

91

 

 

8

 

General and administrative

 

 

314

 

 

 

43

 

 

 

 

405

 

 

 

51

 

 

Schedule of Unvested Stock Options

 

 

 

Number of

Options

(in thousands)

 

 

Weighted

average

exercise

price

$

 

Unvested at June 30, 2020

 

 

858

 

 

 

0.98

 

Granted

 

 

4,999

 

 

 

1.68

 

Vested

 

 

(127

)

 

 

1.18

 

Forfeited

 

 

(14

)

 

 

1.42

 

Unvested at September 30, 2020

 

 

5,716

 

 

 

1.59

 

 

Schedule of Warrants

 

 

Number of

Warrants

(in thousands)

 

 

Weighted

average

exercise

price

$

 

Balance – June 30, 2020

 

 

10,309

 

 

 

2.71

 

Issuance of Adgero Warrants

 

 

2,314

 

 

 

3.18

 

Exercise of warrants (i)

 

 

(994

)

 

 

1.00

 

Warrants issued for services (ii)

 

 

330

 

 

 

1.49

 

Expiry of warrants (iii)

 

 

(101

)

 

 

30.00

 

Balance – September 30, 2020

 

 

11,858

 

 

 

2.67

 

 

i)

A total of 994,000 2020 Investor Warrants were exercised at $1.00 per share.

ii)

Warrants issued for services are exercisable at various prices and expire at the various dates noted in the table below.

iii)

The warrant expiries include the 2015 Investor Warrants, the 2015 Agent Warrants, and certain warrants issued for services.  All of the expired warrants were exercisable at $30 per share.

Schedule of Changes in Outstanding Warrants

Description of warrants

 

Number

(in thousands)

 

 

Exercise

price $

 

 

Expiry date

2020 Investor warrants

 

 

6,744

 

 

 

1.00

 

 

August 16, 2024

2019 Investor warrants

 

 

760

 

 

 

3.10

 

 

June 5, 2024

2019 Investor warrants

 

 

280

 

 

 

12.50

 

 

September 22, 2022

2017 Investor warrants

 

 

208

 

 

 

35.00

 

 

April 19, 2022

NBTS Warrants

 

 

125

 

 

 

1.09

 

 

June 19, 2025 (i)

Warrants issued for services

 

 

25

 

 

 

30.00

 

 

December 1, 2020 to

February 1, 2021

Warrants issued for services

 

 

6

 

 

 

17.80

 

 

January 25, 2023

Warrants issued for services

 

 

34

 

 

 

11.70

 

 

February 27, 2023

Warrants issued for services

 

 

14

 

 

 

9.00

 

 

September 15, 2023 and October 11, 2023

Warrants issued for services

 

 

280

 

 

 

0.75

 

 

November 18, 2023

Warrants issued for services

 

 

250

 

 

 

0.64

 

 

January 20, 2024

Warrants issued for services

 

 

330

 

 

 

1.49

 

 

September 22, 2023

2020 Underwriter Warrants

 

 

377

 

 

 

1.15

 

 

August 14, 2022

2019 Agent warrants

 

 

47

 

 

 

3.88

 

 

June 3, 2024

2018 Agent warrants

 

 

40

 

 

 

12.50

 

 

September 20, 2022

2017 Agent warrants

 

 

14

 

 

 

40.60

 

 

April 12, 2022

2016 Agent warrants

 

 

10

 

 

 

40.00

 

 

May 12, 2021

Adgero Warrants

 

 

1,206

 

 

 

3.18

 

 

April 8, 2021

Adgero Warrants

 

 

353

 

 

 

3.18

 

 

August 31, 2021

Adgero Warrants

 

 

755

 

 

 

3.18

 

 

January 17, 2022

 

 

 

11,858

 

 

 

 

 

 

 

 

(i)

NBTS Warrants were issued in connection with respect to the NBTS Loan (note 5).

Series C Warrants [Member]  
Class Of Stock [Line Items]  
Schedule of Changes in Outstanding Warrants

Description of warrants

 

Number

 

 

Conversion

price

$

 

 

Number of

conversion

shares

(in

thousands)

 

 

Cumulative

common

stock

dividends

(in

thousands)

 

 

Series 1

 

 

1,959

 

 

 

1.16

 

 

 

1,689

 

 

 

1,182

 

 

Series 2

 

 

219

 

 

 

1.21

 

 

 

180

 

 

 

126

 

 

Series 3

 

 

326

 

 

 

1.15

 

 

 

283

 

 

 

198

 

 

 

 

 

2,504

 

 

 

 

 

 

 

2,152

 

 

 

1,506

 

 

 

Schedule of Conversion of Series C Preferred Stock to Series C Warrants

 

 

Number of

Warrants

 

 

Conversion

price

$

 

Balance – June 30, 2020

 

 

 

 

 

 

 

Issuance of Preferred Series C-1 Warrants

 

 

1,959

 

 

 

1.16

 

Issuance of Preferred Series C-2 Warrants

 

 

219

 

 

 

1.21

 

Issuance of Preferred Series C-3 Warrants

 

 

326

 

 

 

1.15

 

Balance – September 30, 2020

 

 

2,504

 

 

 

 

 

 

Stock options [Member]  
Class Of Stock [Line Items]  
Schedule of Outstanding Under the Legacy Plan

 

 

 

Number of

stock options

outstanding

(in thousands)

 

 

Weighted

average

exercise

price

 

Balance – June 30, 2020

 

 

1,559

 

 

 

4.61

 

Granted

 

 

4,999

 

 

 

1.68

 

Forfeited

 

 

(14

)

 

 

1.42

 

Balance – September 30, 2020

 

 

6,544

 

 

 

2.38

 

 

Summary of Stock Options Currently Outstanding and Exercisable

 

Exercise price

$

 

 

Number

Outstanding at

September 30, 2020

(in thousands)

 

 

Weighted

average remaining

contractual life

(years)

 

 

Number

exercisable at

September 30, 2020

(in thousands)

 

 

0.61

 

 

 

1,010

 

 

 

8.93

 

 

 

566

 

 

0.74

 

 

 

250

 

 

 

9.12

 

 

 

 

 

1.36

 

 

 

300

 

 

 

9.98

 

 

 

 

 

1.70

 

 

 

4,699

 

 

 

9.96

 

 

 

 

 

6.10

 

 

 

30

 

 

 

8.11

 

 

 

26

 

 

7.00

 

 

 

3

 

 

 

7.73

 

 

 

3

 

 

8.70

 

 

 

12

 

 

 

7.09

 

 

 

12

 

 

9.83

 

 

 

83

 

 

 

7.64

 

 

 

65

 

 

10.60

 

 

 

4

 

 

 

7.54

 

 

 

3

 

 

11.70

 

 

 

30

 

 

 

2.41

 

 

 

30

 

 

14.94

 

 

 

3

 

 

 

1.67

 

 

 

3

 

 

20.00

 

 

 

13

 

 

 

1.02

 

 

 

13

 

 

21.10

 

 

 

14

 

 

 

6.77

 

 

 

14

 

 

29.60

 

 

 

5

 

 

 

4.35

 

 

 

5

 

 

37.60

 

 

 

5

 

 

 

5.36

 

 

 

5

 

 

41.00

 

 

 

4

 

 

 

6.11

 

 

 

4

 

 

42.00

 

 

 

41

 

 

 

2.31

 

 

 

41

 

 

44.80

 

 

 

3

 

 

 

5.36

 

 

 

3

 

 

49.50

 

 

 

22

 

 

 

3.82

 

 

 

22

 

 

53.20

 

 

 

8

 

 

 

5.60

 

 

 

8

 

 

61.60

 

 

 

2

 

 

 

2.50

 

 

 

2

 

 

92.00

 

 

 

3

 

 

 

2.67

 

 

 

3

 

 

 

 

 

 

6,544

 

 

 

 

 

 

 

828

 

 

Schedule of Valuation Assumptions Using a Black-Scholes Pricing Model

 

 

 

September 30,

2020

 

 

Dividend rate

 

 

 

%

Volatility

 

121% to 153

 

%

Risk-free rate

 

0.19% to 0.42

 

%

Term – years

 

0.4 to 5.8

 

 

 

Performance stock units [Member]  
Class Of Stock [Line Items]  
Schedule of Issuance of Series C Preferred Stock

 

 

 

Series C Preferred Stock

 

 

 

Number

of shares

 

 

$

(in thousands)

 

Balance – June 30, 2020

 

 

 

 

 

 

Issuance

 

 

25,028

 

 

 

18,355

 

Balance – September 30, 2020

 

 

25,028

 

 

 

18,355