Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.1
Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the three months ended March 31, 2020 and 2019:

 

Assumptions:

 

    2020     2019  
Dividend yield     0.00       0.00  
Risk-free interest rate     1.41 %     2.19-2.54 %
Expected volatility     111.05 %     105.2-106.1 %
Expected life (in years)     5       5-10  

Schedule of Stock Option Activity

Option activity for the three months ended March 31, 2020 and the year ended December 31, 2019 was as follows:

 

    Options     Weighted Average Exercise Price ($)     Weighted Average Remaining Contractual Life (Yrs.)     Aggregate Intrinsic Value ($)  
                         
Options outstanding at December 31, 2018     82,627       24.90       6.47       60,090  
Granted     100,335       12.50       4.79       -  
Exercised     -       -       -       -  
Forfeited or cancelled     (2,050 )     16.80       -       -  
Options outstanding at December 31, 2019     180,912       18.11       5.09       25,988  
Granted     8,100       6.30       4.89       -  
Exercised     -       -       -       -  
Forfeited or cancelled     (29,375 )     28.01       -       -  
Options outstanding March 31, 2020     159,637       15.69       4.42       -  
Options expected to vest in the future as of March 31, 2020     80,899       13.53       4.64       -  
Options exercisable at March 31, 2020     78,738       17.91       4.19       -  
Options vested, exercisable, and options expected to vest at March 31, 2020     159,637       15.69       4.42       -  

Summary of Warrant Activity

Warrant activity for the three months ended March 31, 2020 and 2019 was as follows:

 

    Warrants     Weighted Average Exercise Price ($)     Weighted Average Remaining Contractual Life (Yrs.)  
Warrants outstanding at December 31, 2018     305,060       27.50       3.86  
Granted     42,024       16.10       4.96  
Exercised     (7,023 )     10.80       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at March 31, 2019     340,061       26.40       3.76   
                         
Warrants outstanding at December 31, 2019     363,727       25.60       3.12  
Granted     880,985       10.14       5.33  
Exercised     -       -       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at March 31, 2020     1,244,712       14.67       4.61