Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.20.2
Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Payment Award, Stock Options, Valuation Assumptions

The Company uses the following inputs when valuing stock-based awards.

 

    Period Ending September 30,  
    2020     2019  
Expected life (years)     5.0       5.0  
Risk-free interest rate     0.24 %     1.56 %
Expected volatility     89.96 %     68.4 %
Total grant date fair value     $2.30 to $3.63       $1.47 to $3.92  

Schedule of Stock-based Compensation

Stock-based compensation, including stock options and warrants is included in the unaudited condensed consolidated statement of operations as follows:

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Research and development   $ 15,873     $ 50,552     $ 47,618     $ 126,858  
Sales and marketing   $ 28,991     $ 935     $ 101,695     $ 10,938  
General and administrative   $ 122,905     $ 701,008     $ 325,862     $ 1,222,827  
Total   $ 167,769     $ 752,495     $ 475,175     $ 1,360,623  

Schedule of Stock-based Compensation, Stock Options, Activity

The following table reflects the stock option activity for the nine months ended September 30, 2020:

 

    Number of Shares     Weighted Average Exercise Price     Contractual Life (Years)  
                   
Outstanding at December 31, 2019     996,645     $ 3.249       5.73  
Assumed as part of the Merger     61,440       46.950          
Granted     750,671       3.176          
Forfeitures     (27,268 )     2.861          
                         
Outstanding at September 30, 2020     1,781,488     $ 4.546       5.70