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 |
|