Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.21.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Schedule of Stock-based Compensation

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

 

    Years Ended December 31,  
    2020     2019  
Research and development   $ 65,433     $ (40,828 )
Sales and marketing     160,480       46,723  
General and administrative     1,601,095       3,366,831  
Total   $ 1,827,008     $ 3,372,726  
Schedule of Stock-based Compensation, Stock Options, Activity

The following table reflects the stock option activity:

 

    Number of Shares     Weighted Average Exercise Price     Contractual Life (Years)  
                   
Outstanding at December 31, 2018     899,844     $ 2.45       5.80  
Granted     890,300       3.54          
Exercised     -       -       -  
Cancellations     (477,190 )     3.08          
Forfeitures     (316,309 )     3.08          
Outstanding at December 31, 2019     996,645     $ 2.92       5.73  
Assumed as part of the Merger     61,440       46.95          
Granted     896,269       3.06          
Exercised     (6,817 )     (2.45 )        
Forfeitures     (27,268 )     (2.86 )        
                         
Outstanding at December 31, 2020     1,920,269     $ 4.40       8.66  
Schedule of Stock-based Payment Award, Stock Options, Valuation Assumptions

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

 

    As of December 31,  
    2020     2019  
Expected life (years)     5.0       5.0  
Risk-free interest rate     0.38 %     1.62 %
Expected volatility     89.76 %     73.20 %
Total grant date fair value   $ 1.83 to $2.81     $ 3.45  

Restricted Common Stock [Member]  
Schedule of Stock-based Compensation, Stock Options, Activity

The following table reflects the restricted stock activity:

 

    Number of Shares    

Weighted

Average Grant Price

 
             
Outstanding at December 31, 2019     -     $ 0  
Granted     1,087,618       5.27  
Vested     (15,115 )     (3.17 )
                 
Outstanding at December 31, 2020     1,072,503     $ 5.30