Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.21.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2020
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 years ended December 31, 2020 and 2019:

 

Assumptions:

 

    2020     2019  
Dividend yield     0.00 %     0.00 %
Risk-free interest rate     0.19-0.50 %     1.42-2.53 %
Expected volatility     116.0 – 117.0 %     105.2-112.1 %
Expected life (in years)     5       5-10  
Schedule of Stock Option Activity

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

 

          Weighted Average     Weighted Average        
          Exercise     Remaining     Aggregate  
          Price     Contractual     Intrinsic  
    Options     ($)     Life (Yrs.)     Value ($)  
Options outstanding at December 31, 2018     82,629       2.49       6.47       60,090  
Granted     100,333       1.25       4.79       -  
Exercised     -       -       -       -  
Forfeited or cancelled     (2,050 )     1.68       -       -  
Options outstanding at December 31, 2019     180,912       1.81       5.09       25,988  
Granted     579,998       2.55       4.57       477,802  
Exercised     -       -       -       -  
Forfeited or cancelled     (47,900)       22.62       -       -  
Options outstanding at December 31, 2020     713,010       5.15       4.40       477,802  
Options expected to vest in the future as of December 31, 2020     363,368       3.92       4.53       -  
Options exercisable at December 31, 2020     349,642       6.43       4.27       -  
Options vested, exercisable, and options expected to vest at December 31, 2020     713,010       5.15       4.40       477,802  
Summary of Warrant Activity

Warrant activity for the year ended December 31, 2020 and 2019 was as follows:

 

          Weighted Average    

Weighted

Average

 
          Exercise     Remaining  
          Price     Contractual  
    Warrants     ($)     Life (Yrs.)  
Warrants outstanding at December 31, 2018     305,060       27.50       3.86  
Granted     65,690       15.60       4.39  
Exercised     (7,023 )     10.80       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at December 31, 2019     363,728       25.60       3.12  
Granted     1,540,139       3.19       4.64  
Exercised     (22,438 )     -       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at December 31, 2020     1,881,429       7.57       4.16  
Stock Appreciation Rights [Member]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of SAR awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the twelve months ended December 31, 2020:

 

Assumptions:

 

    2020  
Dividend yield     0.00 %
Risk-free interest rate     0.22 %
Expected volatility     116.8 %
Expected life (in years)     5  
Schedule of Stock Option Activity

SARs activity for the twelve months ended December 31, 2020 was as follows:

 

          Weighted Average     Weighted Average        
          Exercise     Remaining     Aggregate  
          Price     Contractual     Intrinsic  
    SARs     ($)     Life (Yrs.)     Value ($)  
                         
SARs outstanding at December 31, 2019     -       -       -       -  
Granted     127,679       2.61       4.52       97,919  
Exercised     -       -       -       -  
Forfeited or cancelled     -       -       -       -  
SARs outstanding December 31, 2020     127,679       2.61       4.52       97,919  
SARs expected to vest in the future as of December 31, 2020     125,429       2.62       4.51       95,872  
SARs exercisable at December 31, 2020     2,250       2.47       4.89       2,047  
SARs vested, exercisable, and options expected to vest at December 31, 2020     127,679       2.61       4.52       97,919