Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.10.0.1
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of range of assumptions used to determine the fair value of the warrants
The assumptions used to determine the fair value of the warrants at each period end was:
September 30, 2018 September 30, 2017
Fair value of Synergy common stock
$ 1.70  $ 2.90 
Expected warrant term
1.1 years  0.4 years
Risk-free interest rate
2.13  % 1.13  %
Expected volatility
65  % 40  %
Dividend yield
—  — 
Schedule of changes in derivative financial instruments and associated liability balance
The following table sets forth the components of changes in the Synergy’s outstanding warrants which were deemed derivative financial instruments and the associated liability balance for the periods indicated:
Date  Description  Warrants 
Derivative
Instrument
Liability
(in thousands)
12/31/2017 Balance of derivative financial instruments liability  21,915,426  $ 17,582 
3/31/2018 Change in fair value of warrants during the three months ended March 31, 2018  (5,644)
3/31/2018 Expiration of warrants  (210,000) — 
6/30/2018 Change in fair value of warrants during the three months ended June 30, 2018  (2,604)
9/30/2018 Change in fair value of warrants during the three months ended September 30, 2018  433 
09/30/2018 Balance of derivative financial instruments liability  21,705,426  $ 9,767