Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.20.2
Investments (Tables)
9 Months Ended
Sep. 30, 2020
Investments [Abstract]  
Schedule of Investment

Investments consist of the following at September 30, 2020 and December 31, 2019:

 

    September 30, 2020     December 31, 2019  
              (Note 1)  
Warrants to purchase common stock of Sonnet   $ 476,724     $  
Chanticleer Investors, LLC     398,278       381,397  
Total     875,002       381,397  
Schedule of Fair Value of Warrant

This value is also equal to the value under the Black-Scholes option pricing model with the following inputs:

 

As of April 1, 2020      
Fair value of Sonnet common stock   $ 8.76  
Exercise price   $ 0.01  
Term     5 years  
Volatility     103 %
Risk-free interest rate     0.37 %

 

As of September 30, 2020      
Fair value of Sonnet common stock   $ 2.57  
Exercise price   $ 0.01  
Term     5 years  
Volatility     106 %
Risk-free interest rate     0.28 %