Quarterly report pursuant to Section 13 or 15(d)

7. Stockholders' Equity (Tables)

v3.20.1
7. Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2020
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, 2019 and for the three months ended March 31 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 15,000   
Exercised -   
Forfeit/canceled (28,447)  
Expired (131,667)  
Outstanding at March 31, 2020 5,636,770   

 
Stock-Based Compensation Expense

The impact on our results of operations of recording stock-based compensation expense for the three months ended March 31, 2020 and 2019 were as follows:

 

    Three Months Ended
    March 31,
    2020   2019
General and administrative   $ 78,549      $ 54,232   
Sales and marketing     13,677        39,914   
Engineering, research, and development     41,987        21,602   
    $ 134,213      $ 115,748   
Valuation Assumptions

The following weighted average assumptions were used for the three months ended March 31, 2020 and 2019.

 

    Three Months Ended
    March 31,
    2020   2019
Risk-free interest rate   0.58    %   2.53    %
Expected life (years)   6.00        6.00     
Expected dividend yield   -    %   -    %
Expected volatility   77.57    %   90.83    %
Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity under our stock-based plans for the year ended December 31, 2019 and for the three months ended March 31, 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     100,000   
Released     -   
Canceled/forfeited/expired     -   
Outstanding at March 31, 2020     1,252,248   
       
Expected to vest at March 31, 2020     1,252,248   
Vested at March 31, 2020     1,252,248   
Unvested at March 31, 2020     -   
Unrecognized expense at March 31, 2020   $ -   
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, 2020 and 2019 was as follows: 

 

    Three Months Ended
    March 31,
    2020   2019
General and administrative   $ 65,000      $ 65,002   
    $ 65,000      $ 65,002