Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2018
Stock-based Compensation  
Equity Incentive Plan

    Awards Reserved for Issuance     Awards Issued     Awards Available for Grant  
                   
2016 Equity Incentive Plan     30,000,000       2,044,399       27,955,601  

Stock option activity

    Number of Shares      Weighted-Average Exercise Price Per Share      Weighted-Average Remaining Contractual Life    Aggregate Intrinsic Value of In-the-Money Options   
       
                       
Options Outstanding as of Janury 1, 2018     1,177,732     $ 2.17            
                           
Options Granted     800,000     $ 4.41            
Options Exercised     -       -            
Options Forfeited     -       -            
Options Expired     -       -            
Options Outstanding as of March 31, 2018     1,977,732     $ 3.08      9.1 Years    $ 522,600  
Options Exercisable as of Mach 31, 2018     659,774     $ 2.20      8.5 Years    $ 391,950  
                             
Options Granted     66,667     $ 3.75              
Options Exercised     -       -              
Options Forfeited     -       -              
Options Expired     -       -              
Options Outstanding as of June 30, 2018     2,044,399     $ 3.10      8.89 Years    $ 361,800  
Options Exercisable as of June 30, 2018     828,941     $ 2.38      8.42 Years    $ 301,500  

Weighted-average assumptions stock-based compensation

    June 2018  
Expected Term (years)   6.5 Years  
Volatility   126.93-128.0%  
Risk-Free Interest Rate   2.5-2.8%  
Dividend Yield     0%  

Stock-Based Compensation Expense

    For the Three Months Ended  
    June 30, 2018     June 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                           
Stock Options     66,667     $ 480,500       550,000     $ 157,430  
                                 
Stock Grants:                                
Employees (Common Stock)     91,888       264,542       102,385       294,632  
Employees (Series B Preferred Stock)     -       -       -       -  
Directors (Common Stock)     -       -       72,728       184,473  
Non–Employee Consultants (Common Stock)     37,872       107,037       159,424       446,348  
                                 
Total Stock–Based Compensation Expense           $ 852,079             $ 1,082,883  

  

    For the Six Months Ended  
    June 30, 2018     June 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                           
Stock Options     866,667     $ 954,698       550,000     $ 205,019  
                                 
Stock Grants:                                
Employees (Common Stock)     173,394       552,992       109,052       320,732  
Employees (Series B Preferred Stock)     -       -       40,000       1,035,406  
Directors (Common Stock)     -       -       81,061       221,973  
Non–Employee Consultants (Common Stock)     44,282       123,727       190,600       591,359  
                                 
Total Stock–Based Compensation Expense           $ 1,631,417             $ 2,374,489