Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.19.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Stockbased Compensation Tables Abstract  
Equity incentive plan

The following table contains information about both plans as of December 31, 2018:

  

    Awards Reserved for Issuance     Awards Issued     Awards Available for Grant  
                   
2016 Equity Incentive Plan     2,000,000       1,541,064       458,936  
2018 Equity Incentive Plan     6,600,000       5,100,000       1,500,000  

Stock option activity

The following table summarizes the Company’s stock option activity and related information for the year ended December 31, 2018 and 2017:

  

   

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 January 1, 2017     446,667     $ 1.35            
                           
Options Granted     731,065     $ 2.68            
Options Exercised     -     $ -            
Options Forfeited     -     $ -            
Options Expired     -     $ -            
Options Outstanding as of December 31, 2017     1,177,732     $ 2.17            
                           
Options Granted     6,911,667     $ 1.56            
Options Exercised     -     $ -            
Options Forfeited     (436,668 )   $ 2.36            
Options Expired     -     $ -            
                           
Options Outstanding as of December 31, 2018     7,652,731     $ 1.61     9.6 years   $ -  
Options Exercisable as of December 31, 2018     1,870,039     $ 1.92     9.1 years   $ -  

Weighted-average assumptions stock-based compensation

The following weighted-average assumptions were used to calculate stock-based compensation:

 

   

Year Ended

December 31,

 
    2018     2017  
Expected term (years)   6 Years     5 Years  
Volatility   113.2-128.0 %   117.3-120.9 %
Risk-Free Interest Rate   2.5-2.9 %   2.0-2.4 %
Dividend Yield     0 %     0 %
Stock-based compensation expense

The following table sets forth the total stock-based compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee consultants in the consolidated statement of operations which are included in selling, general and administrative expenses: 

  

    For the Year Ended  
    December 31, 2018     December 31, 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     6,911,667     $ 2,527,982       731,065     $ 692,971  
                                 
Stock Grants:                                
Employees (Common Stock)     201,296       603,117       158,867       490,880  
Employees (Series B Preferred Stock)     0       0       40,000       1,035,406  
Directors (Common Stock)     49,500       99,990       81,061       221,973  
Non–Employee Consultants (Common Stock)     132,971       225,428       389,374       1,284,562  
                                 
Total Stock–Based Compensation Expense           $ 3,456,517             $ 3,725,792