Stockholders' Equity (Tables)
|
9 Months Ended |
Sep. 30, 2020 |
|---|
| Schedule of Stock Option Activity |
The following table summarizes stock option
activity for the year ended December 31, 2019 and for the nine months ended September 30, 2020:
| |
|
Options |
|
| Outstanding at December 31, 2018 |
|
|
4,987,426 |
|
| Granted |
|
|
2,592,500 |
|
| Exercised |
|
|
- |
|
| Forfeit/canceled |
|
|
(923,389 |
) |
| Expired |
|
|
(874,653 |
) |
| Outstanding at December 31, 2019 |
|
|
5,781,884 |
|
| Granted |
|
|
715,000 |
|
| Exercised |
|
|
(15,000 |
) |
| Forfeit/canceled |
|
|
(579,695 |
) |
| Expired |
|
|
(438,127 |
) |
| Outstanding at September 30, 2020 |
|
|
5,464,062 |
|
|
| Schedule of Stock-Based Compensation Expense |
The impact on our results of operations of
recording stock-based compensation expense for the three and nine months ended September 30, 2020 and 2019 were as follows:
| |
|
Three Months Ended |
|
|
Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| General and administrative |
|
$ |
61,081 |
|
|
$ |
94,122 |
|
|
$ |
197,778 |
|
|
$ |
584,160 |
|
| Sales and marketing |
|
|
20,914 |
|
|
|
13,020 |
|
|
|
55,512 |
|
|
|
63,575 |
|
| Engineering, research, and development |
|
|
39,460 |
|
|
|
40,607 |
|
|
|
125,922 |
|
|
|
111,567 |
|
| |
|
$ |
121,455 |
|
|
$ |
147,749 |
|
|
$ |
379,212 |
|
|
$ |
759,302 |
|
|
| Schedule of Valuation Assumptions |
The following weighted average assumptions
were used for the nine months ended September 30, 2020 and 2019.
| |
|
Nine Months Ended |
|
| |
|
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
| Risk-free interest rate |
|
|
0.49 |
% |
|
|
2.21 |
% |
| Expected life (years) |
|
|
6.00 |
|
|
|
6.00 |
|
| Expected dividend yield |
|
|
- |
% |
|
|
- |
% |
| Expected volatility |
|
|
78.20 |
% |
|
|
81.57 |
% |
|
| Schedule of Restricted Stock Units |
The following table summarizes restricted stock
unit activity under our stock-based plans for the year ended December 31, 2019 and for the nine months ended September 30,
2020:
| |
|
Shares |
|
| Outstanding at December 31, 2018 |
|
|
662,800 |
|
| Awarded |
|
|
489,448 |
|
| Released |
|
|
- |
|
| Canceled/forfeited/expired |
|
|
- |
|
| Outstanding at December 31, 2019 |
|
|
1,152,248 |
|
| Awarded |
|
|
181,252 |
|
| Released |
|
|
- |
|
| Canceled/forfeited/expired |
|
|
- |
|
| Outstanding at September 30, 2020 |
|
|
1,333,500 |
|
| |
|
|
|
|
| Expected to vest at September 30, 2020 |
|
|
1,333,500 |
|
| Vested at September 30, 2020 |
|
|
1,333,500 |
|
| Unvested at September 30, 2020 |
|
|
- |
|
| Unrecognized expense at September 30, 2020 |
|
$ |
- |
|
|
| Restricted Stock Units (RSUs) [Member] |
|
| Schedule of Stock-Based Compensation Expense |
The impact on our results of operations of
recording stock-based compensation expense for restricted stock units for the three and nine months ended September 30, 2020 and
2019 was as follows:
| |
|
Three Months Ended |
|
|
Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| General and administrative |
|
$ |
65,002 |
|
|
$ |
- |
|
|
$ |
130,002 |
|
|
$ |
65,001 |
|
| |
|
$ |
65,002 |
|
|
$ |
- |
|
|
$ |
130,002 |
|
|
$ |
65,001 |
|
|