The Company elected the fair value option to account for the 2020 Lincoln Park Note and determined that the 2020 Lincoln Park Warrants met the criteria to be accounted for as a derivative. The fair value of the 2020 Lincoln Park Note on issuance was recorded as $885,559. For the three and six months ended June 30, 2020, the fair value of the note increased by $309,020 and $203,461, respectively, and was recognized as current period other expense in the Company’s condensed consolidated statement of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk). As of June 30, 2020, the balance of the convertible promissory note on the Company’s condensed consolidated balance sheet was $1,089,020.