Quarterly report pursuant to Section 13 or 15(d)

Derivative Liabilities (Tables)

v3.8.0.1
Derivative Liabilities (Tables)
3 Months Ended
Sep. 30, 2017
Derivative Liabilities [Abstract]  
Summary of assumptions used in valuation model of derivatives liabilities

    September 30,     June 30,  
    2017     2017  
Common stock issuable upon exercise of warrants   2,574,570     2,574,570  
Market value of common stock on measurement date   $0.95     $0.82  
Exercise price   $7.50 and 11.25       $7.50 and 11.25    
Risk free interest rate (1)   1.47%   1.38%
Expected life in years   1.70     1.95  
Expected volatility (2)   106%   106%
Expected dividend yields (3)   None         None    

 

(1) The risk-free interest rate was determined by management using the applicable Treasury Bill as of the measurement date.
(2) The historical trading volatility was determined by calculating the volatility of the Company’s stock at September 30, 2017 and June 30, 2017.
(3) The Company does not expect to pay a dividend in the foreseeable future.