Quarterly report pursuant to Section 13 or 15(d)

7. Stockholders??? Equity (Tables)

v3.19.1
7. Stockholders’ Equity (Tables)
 3 Months Ended
Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2018 and for the three months ended March 31, 2019:

 

  Options
Outstanding at December 31, 2017 6,818,948   
Granted 855,000   
Exercised (12,500)  
Forfeit/canceled (1,566,589)  
Expired (1,082,641)  
Outstanding at December 31, 2018 5,012,218   
Granted 290,000   
Exercised -   
Forfeit/canceled (507,557)  
Expired (360,418)  
Outstanding at March 31, 2019 4,434,243   
   
Stock-Based Compensation Expense

The impact on our results of operations of recording stock-based compensation expense for the three months ended March 31, 2019 and 2018 were as follows:

 

    Three Months Ended
    March 31,
    2019   2018
General and administrative   $ 54,232      $ 125,118   
Sales and marketing     39,914        68,480   
Engineering, research, and development     21,602        28,698   
    $ 115,748      $ 222,296   
Valuation Assumptions

The fair value of each stock option award was calculated on the date of grant using the Black-Scholes option pricing model. The following weighted average assumptions were used for the three months ended March 31, 2019 and 2018.

 

    Three Months Ended
    March 31,
    2019   2018
Risk-free interest rate   2.53 %   2.68 %
Expected life (years)   6.00      6.00   
Expected dividend yield   -      -   
Expected volatility   90.83 %   101.94 %
Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity under our stock-based plans for the year ended December 31, 2018 and for the three months ended March 31, 2019:

 

  RSU's
Outstanding at December 31, 2017 662,800   
Granted -   
Exercised -   
Forfeit/canceled -   
Expired -   
Outstanding at December 31, 2018 662,800   
Granted 222,224   
Exercised -   
Forfeit/canceled -   
Expired -   
Outstanding at March 31, 2019 885,024   
Restricted Stock Units (RSUs) [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 restricted stock units for the three months ended March 31, 2019 and 2018 was as follows: 

 

    Three Months Ended
    March 31,
    2019   2018
General and administrative   $ 65,002      $ 30,546   
    $ 65,002      $ 30,546