• Filing Date: 2020-06-24
  • Form Type: 10-K
  • Description: Annual report
v3.20.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of ranges of assumptions and estimates
The following table shows the ranges of assumptions and estimates utilized within the Black-Scholes-Merton option valuation models for the period presented:
Inputs
 
Year Ended March 31,
 
 
2019
 
2018
Company's stock price
 
$1.62 - $2.40
 
$3.64 - $5.63
Exercise prices
 
$0.01 - $2.40
 
$0.01
Expected term (years)
 
4.5 to 5.0
 
4.8 to 5.0
Volatility
 
64.1% - 71.8%
 
59.8% - 69.1%
Risk free interest rate
 
2.5% - 3.0%
 
2.1% - 2.7%
Dividend rate
 
—%
 
—%
Schedule of changes in the fair value of level 3 valuation for warrant liability
The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuations for the warrant liability for the periods presented (in thousands):
 
Warrant liability
As of March 31, 2018
$
272

   Issuances
5,683

   Settlements
(615
)
   Changes in fair value
297

   Reclassifications to stockholders' deficit
(5,637
)
As of March 31, 2019
$

Schedule of carrying value and total estimated fair value
The table below represents the carrying value and total estimated fair value of long-term debt as of March 31, 2020 and March 31, 2019, respectively. The fair value has been classified as Level 2 within the fair value hierarchy.

 
 
March 31,
 
 
2020
 
2019
 
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Senior Secured Term Loan
 
$
165,208

 
$
151,678

 
$
164,588

 
$
160,259

Amended PNC Credit Facility
 
2,620

 
2,226