Annual report pursuant to Section 13 and 15(d)

Stock-based Plans and Stock-based Compensation (Tables)

v3.22.1
Stock-based Plans and Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021 and 2020: Shares Weighted‎Average‎Exercise Price Weighted‎Average‎Remaining‎Contractual‎Term (Years) Aggregate‎Intrinsic ValueOutstanding at December 31, 2019 5,781,884 $ 1.15 7.16 $ 527,868Granted 1,545,000 $ 1.19 — $ —Exercised (15,000) $ 0.48 — $ —Forfeit/canceled (814,068) $ 0.94 — $ —Expired (490,264) $ 1.07 — $ —Outstanding at December 31, 2020 6,007,552 $ 1.20 6.77 $ 4,056,639Granted 637,500 $ 1.56 — $ —Exercised — $ 1.61 — $ —Forfeit/canceled (272,029) $ 2.18 — $ —Expired (126,557) $ 1.17 — $ —Outstanding at December 31, 2021 6,246,466 $ 1.20 7.17 $ 2,500,847 Expected to vest at December 31, 2021 6,246,466 $ 1.20 6.14 $ 4,056,639Exercisable at December 31, 2021 4,063,765 $ 1.17 4.84 $ 2,252,766Unrecognized expense at December 31, 2021$ 1,527,647
Stock-Based Compensation Expense The impact on our results of operations of recording stock-based compensation expense for the years ended December 31, 2021 and 2020 was as follows: Years Ended December 31, 2021 2020General and administrative$ 289,782 $ 267,306Sales and marketing 81,093 75,235Engineering, research, and development 178,893 171,394 $ 549,768 $ 513,935
Valuation Assumptions We calculated the fair value of each stock option award on the date of grant using the Black-Scholes option pricing model. The ranges of assumptions were used for the years ended December 31, 2021 and 2020:     Years Ended December 31,    2021 2020Risk-free interest rate  0.42% to 0.58% 0.42% to 0.58%Expected life (years)  6.00 6.00Expected dividend yield  — —Expected volatility  59.90% to 80.26% 77.36% to 78.21%
Restricted Stock Units RSU [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, 2021 and 2020 was as follows: Years Ended December 31, 2021 2020General and administrative$ 260,005 $ 260,003Sales and Marketing 187,501 — $ 447,506 $ 260,003
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, 2021 and 2020:   Shares Weighted Average‎Grant Date Fair Value Weighted Average‎Remaining‎Contractual Term‎(Years) Aggregate‎Intrinsic ValueOutstanding at December 31, 2019 1,152,248 $ 0.86 — $ 1,120,404Awarded 284,480 $ 0.91 — $ 60,003Released — $ — — $ —Canceled/forfeited/expired — $ — — $ —Outstanding at December 31, 2020 1,436,728 $ 0.86 — $ 1,180,407Awarded 654,663 $ 1.77 — $ 260,005Released — $ — — $ —Canceled/forfeited/expired (406,250) $2 — $ (192,339)Outstanding at December 31, 2021 1,685,141 $ 1.18 — $ 1,248,073 Vested at December 31, 2021 1,685,141 $ — — $ 2,595,117Unvested at December 31, 2021 — $ — — $ —Unrecognized expense at December 31, 2021$ —