8. Stock-based Plans and Stock-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Stock Option Activity |
The following table summarizes stock option activity under our stock-based
plans as of and for the years ended December 31, 2018 and 2017:
| |
|
Shares |
|
Weighted
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Term (Years)
|
|
Aggregate
Intrinsic Value
|
| Outstanding at December 31, 2016 |
|
|
5,757,880 |
|
$ |
1.37 |
|
|
8.12 |
|
$ |
209,690 |
| Granted |
|
|
3,027,500 |
|
$ |
0.69 |
|
|
- |
|
$ |
- |
| Exercised |
|
|
(152,085) |
|
|
0.54 |
|
|
|
|
|
|
| Forfeit/canceled |
|
|
(1,451,053) |
|
$ |
0.70 |
|
|
- |
|
$ |
- |
| Expired |
|
|
(363,294) |
|
$ |
1.10 |
|
|
- |
|
$ |
- |
| Outstanding at December 31, 2017 |
|
|
6,818,948 |
|
$ |
1.06 |
|
|
8.12 |
|
$ |
209,690 |
| Granted |
|
|
855,000 |
|
$ |
0.69 |
|
|
- |
|
$ |
- |
| Exercised |
|
|
(12,500) |
|
$ |
0.75 |
|
|
- |
|
$ |
- |
| Forfeit/canceled |
|
|
(1,566,589) |
|
$ |
0.74 |
|
|
- |
|
$ |
- |
| Expired |
|
|
(1,082,641) |
|
$ |
1.18 |
|
|
- |
|
$ |
- |
| Outstanding at December 31, 2018 |
|
|
5,012,218 |
|
$ |
1.15 |
|
|
7.11 |
|
$ |
1,232,545 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Expected to vest at December 31, 2018 |
|
|
3,001,272 |
|
$ |
1.32 |
|
|
6.06 |
|
$ |
570,946 |
| Exercisable at December 31, 2018 |
|
|
3,011,272 |
|
$ |
1.32 |
|
|
6.06 |
|
$ |
564,337 |
| Unrecognized expense at December 31, 2018 |
|
$ |
1,232,545 |
|
|
|
|
|
|
|
|
|
|
| Stock-Based Compensation Expense |
The impact on our results of operations of
recording stock-based compensation expense for the years ended December 31, 2018 and 2017 was as follows:
| |
|
Years ended December 31, |
| |
|
2018 |
|
2017 |
| General and administrative |
|
$ |
311,303 |
|
$ |
570,170 |
| Sales and marketing |
|
|
225,275 |
|
|
166,083 |
| Engineering, research, and development |
|
|
131,334 |
|
|
175,443 |
| |
|
$ |
667,912 |
|
$ |
911,696 |
|
| Valuation Assumptions |
The ranges of assumptions were used for the years ended December 31,
2018 and 2017:
| |
|
Years ended December 31, |
| |
|
2018 |
|
2017 |
| Risk-free interest rate |
|
2.24% to 3.10% |
|
1.86% to 2.20% |
| Expected life (years) |
|
6.06 |
|
6.00 |
| Dividend yield |
|
- |
|
- |
| Expected volatility |
|
90.88% to 104.06% |
|
84.42% to 85.79% |
|
| Restricted Stock Units R S U [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Stock-Based Compensation Expense |
The impact on our results of operations of recording stock-based
compensation expense for years ended December 31, 2018 and 2017 was as follows:
| |
|
Years ended December 31, |
| |
|
|
|
|
|
|
| |
|
2018 |
|
2017 |
| General and administrative |
|
$ |
297,249 |
|
$ |
218,601 |
| |
|
$ |
297,249 |
|
$ |
218,601 |
|
| Restricted Stock Unit Activity |
The following table summarizes restricted stock unit activity under
our stock-based plans as of and for the years ended December 31, 2018 and 2017:
| |
|
Shares |
|
Weighted
Average
Grant Date
Fair Value
|
|
Weighted
Average
Remaining
Contractual
Term (Years)
|
|
Aggregate
Intrinsic Value
|
| Outstanding at December 31, 2016 |
|
|
994,417 |
|
$ |
0.72 |
|
|
0.08 |
|
$ |
731,845 |
| Awarded |
|
|
199,513 |
|
$ |
0.73 |
|
|
0.70 |
|
$ |
- |
| Released |
|
|
(484,058) |
|
$ |
- |
|
|
|
|
$ |
|
| Forfeit |
|
|
(47,072) |
|
$ |
0.72 |
|
|
|
|
$ |
|
| Outstanding at December 31, 2017 |
|
|
662,800 |
|
$ |
0.72 |
|
|
0.70 |
|
$ |
795,360 |
| Awarded |
|
|
- |
|
$ |
- |
|
|
- |
|
$ |
- |
| Released |
|
|
- |
|
$ |
- |
|
|
- |
|
$ |
- |
| Forfeit |
|
|
- |
|
$ |
- |
|
|
- |
|
$ |
- |
| Outstanding at December 31, 2018 |
|
|
662,800 |
|
$ |
0.72 |
|
|
- |
|
$ |
785,418 |
| Expected to vest at December 31, 2018 |
|
|
662,800 |
|
$ |
0.72 |
|
|
|
|
|
|
| Unrecognized expense at December 31, 2018 |
|
$ |
- |
|
|
|
|
|
|
|
|
|
|