Quarterly report pursuant to Section 13 or 15(d)

7. Stockholders' Equity (Tables)

v3.20.2
7. Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 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 six months ended June 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                            -
Forfeit/canceled              (485,009)
Expired              (251,980)
Outstanding at June 30, 2020             5,759,895
Stock-Based Compensation Expense

The impact on our results of operations of recording stock-based compensation expense for the three and six months ended June 30, 2020 and 2019 were as follows:

 

    Three Months Ended   Six Months Ended
    June 30,   June 30,
    2020   2019   2020   2019
General and administrative   $         58,149   $          438,283   $           136,698   $        490,037
Sales and marketing             20,921                26,152                 34,598            58,097
Engineering, research, and development            44,474                 31,370                 86,461             63,418
    $         123,544   $           495,805   $          257,757   $        611,552
Valuation Assumptions

The following weighted average assumptions were used for the six months ended June 30, 2020 and 2019.

 

    Six Months Ended
    June 30,
    2020   2019
Risk-free interest rate   0.58    %   2.25    %
Expected life (years)   6.00        6.00     
Expected dividend yield   -    %   -    %
Expected volatility   77.57    %   81.67    %
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 six months ended June 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                   100,000
Released                              -
Canceled/forfeited/expired                              -
Outstanding at June 30, 2020                1,252,248
       
Expected to vest at June 30, 2020                1,252,248
Vested at June 30, 2020                1,252,248
Unvested at June 30, 2020                              -
Unrecognized expense at June 30, 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 and six months ended June 30, 2020 and 2019 was as follows: 

 

    Three Months Ended   Six Months Ended
    June 30,   June 30,
    2020   2019   2020   2019
General and administrative   $                  -   $                 -   $          65,000   $         65,002
    $                  -   $                 -   $         65,000   $         65,002