Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.19.1
Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2019
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, 2019 and 2018:

 

Assumptions:

 

    2019     2018  
Dividend yield     0.00       0.00  
Risk-free interest rate     2.19-2.54 %     2.86-2.94 %
Expected volatility     105.2-106.1 %     137.2-137.3 %
Expected life (in years)     5       10

Schedule of Stock Option Activity

Option activity for the three months ended March 31, 2019 and the year ended December 31, 2018 was as follows:

 

          Weighted Average    

Weighted

Average

       
          Exercise     Remaining     Aggregate  
          Price     Contractual     Intrinsic  
    Options     ($)     Life (Yrs.)     Value ($)  
Options outstanding at December 31, 2017   299,938     4.57     6.03     -  
Granted     534,329       1.45       6.31       -  
Exercised     -       -       -       -  
Forfeited or cancelled     (8,000 )     4.59       -       -  
Options outstanding at December 31, 2018     826,267       2.49       6.22       131,829  
Granted     209,956       1.60       4.81       30,737  
Exercised     -       -       -       -  
Forfeited or cancelled     -       -       -       -  
Options outstanding March 31, 2019     1,036,223       2.31       5.94       162,566  
Options expected to vest in the future as of March 31, 2019     425,893       2.18       5.94       78,339  
Options exercisable at March 31, 2019     610,330       2.40       5.94       84,227  
Options vested, exercisable, and options expected to vest at March 31, 2019     1,036,223       2.31       5.94       162,566

Summary of Warrant Activity

Warrant activity for the three months ended March 31, 2019 and 2018 was as follows:

 

          Weighted Average    

Weighted

Average

 
          Exercise     Remaining  
          Price     Contractual  
    Warrants     ($)     Life (Yrs.)  
Warrants outstanding at December 31, 2017     1,645,500       3.97       3.84  
Granted     -       -       -  
Exercised     -       -       -  
Forfeited or cancelled     -       -       -  
Options outstanding at March 31, 2018     1,645,500       3.97          
                         
Options outstanding at December 31, 2018     3,050,600       2.75       3.86  
Granted     420,240       1.61       4.96  
Exercised     (70,230 )     1.08       -  
Forfeited or cancelled     -       -       -  
Options outstanding at March 31, 2019     3,400,610       2.64       3.63