LOAN PAYABLE (Tables)

3 Months Ended

Mar. 31, 2021

LOAN PAYABLE

Schedule of key assumptions

The Company estimated the fair value of the Warrant using the Black-Scholes model based on the following key assumptions:

Exercise price	$	4.08
Common share price on date of issuance	$	6.80
Volatility		195.9	%
Risk-free interest rate		2.63	%
Expected dividend yield		--	%
Contractual term (in years)		7.00 years

Schedule of loan payable

The loan payable as of March 31, 2021 and December 31, 2020 is as follows:

	March 31,		December 31,
(in thousands)	2021		2020
Loan payable	$	30,000	$	30,000
End of term fee		975		975
		30,975		30,975
Less: unamortized debt issuance costs		(848)		(1,080)
		30,127		29,895
Less: current portion		(30,127)		(22,179)
Loan payable non-current	$	—	$	7,716