Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Warrants (Tables)

v3.20.4
Stock-Based Compensation and Warrants (Tables)
12 Months Ended
Dec. 31, 2020
Stock-Based Compensation and Warrants  
Schedule of assumptions used for awards

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

    

2020

    

2019

 

Exercise price

 

$

0.42

 

$

0.42

 

Expected dividends

 

 

 0

%  

 

 0

%

Expected volatility

 

 

88

%  

 

84

%

Risk free interest rate

 

 

0.31

%  

 

1.61

%

Expected life of option (years)

 

 

4.3

 

 

 4.5

 

 

Summary of stock option activity

A summary of stock option activity for the years ended December 31, 2020 and 2019 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Weighted 

    

Weighted Average 

    

Aggregate 

 

 

 

 

Average Exercise 

 

Remaining 

 

Intrinsic 

 

 

Options

 

Price

 

Contractual Life

 

Value

 

 

 

 

 

 

 

 

 

 

 

Balance - December 31, 2018

 

938,982

 

$

15.18

 

6.19 years

 

$

 —

 

 

  

 

 

  

 

  

 

 

  

Granted

 

1,725,000

 

 

0.42

 

  

 

 

  

Exercised

 

 —

 

 

 —

 

  

 

 

 

Expired

 

(94,738)

 

 

58.25

 

  

 

 

  

Forfeited

 

(67,232)

 

 

5.95

 

  

 

 

  

Balance - December 31, 2019

 

2,502,012

 

 

3.62

 

6.51 years

 

 

153,353

 

 

  

 

 

  

 

  

 

 

  

Granted

 

1,540,000

 

 

0.42

 

  

 

 

  

Exercised

 

 —

 

 

 —

 

  

 

 

 

Expired

 

(14,944)

 

 

17.57

 

  

 

 

  

Forfeited

 

(29,650)

 

 

0.55

 

  

 

 

  

 

 

  

 

 

  

 

  

 

 

  

Balance -December 31, 2020 - outstanding

 

3,997,418

 

$

2.35

 

6.09 years

 

$

 —

 

 

  

 

 

  

 

  

 

 

  

Balance -  December 31, 2020 - exercisable

 

1,319,412

 

$

6.25

 

4.35 years

 

$

 —

 

 

  

 

 

  

 

  

 

 

  

Grant date fair value of options granted - December 31, 2020

 

  

 

$

412,000

 

  

 

 

  

 

 

  

 

 

  

 

  

 

 

  

Weighted average grant date fair value - December 31, 2020

 

  

 

$

0.27

 

  

 

 

  

 

 

  

 

 

 

 

  

 

 

  

Grant date fair value of options granted - December 31, 2019

 

  

 

$

470,000

 

  

 

 

  

 

 

  

 

 

  

 

  

 

 

  

Weighted average grant date fair value - December 31, 2019

 

  

 

$

0.27

 

  

 

 

  

 

Schedule of options outstanding and exercisable

The options outstanding and exercisable at December 31, 2020 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

    

 

    

 

 

    

Weighted

    

 

    

 

 

    

Weighted

 

 

 

 

 

Weighted

 

Average

 

 

 

Weighted

 

Average

 

 

 

 

 

Average

 

Remaining

 

 

 

Average

 

Remaining

Range of

 

 

 

Exercise

 

Contractual

 

 

 

Exercise

 

Contractual

Exercise Price

 

Options

 

Price

 

Life

 

Options

 

Price

 

Life

$

0.00 – $40.00

 

3,929,257

 

$

0.99

 

4.42 years

 

1,251,251

 

$

2.18

 

4.42 years

 

41.00 – $70.00

 

8,364

 

 

50.29

 

2.53 years

 

8,364

 

 

50.29

 

2.53 years

$

71.00 – $102.00

 

59,797

 

$

85.19

 

3.13 years

 

59,797

 

$

85.19

 

3.13 years

 

Summary of all warrant activity

 

 

A summary of all warrant activity for the Company for the years ended December 31, 2020 and 2019 is as follows:

 

 

 

 

 

 

 

 

    

Number of

    

Weighted Average

 

 

Warrants

 

Exercise Price

 

 

 

 

 

 

Balance at December 31,2018

 

18,915,851

 

$

3.85

Granted

 

 —

 

 

 —

Exercised

 

 —

 

 

 —

Forfeited

 

(200,852)

 

 

61.25

Balance at December 31,2019

 

18,714,999

 

 

3.24

Granted

 

 —

 

 

 —

Exercised

 

 —

 

 

 —

Forfeited

 

(714,286)

 

 

50.05

Balance at December 31,2020

 

18,000,713

 

$

0.69

 

Summary of all outstanding and exercisable warrants

A summary of all outstanding and exercisable warrants as of December 31, 2020 is as follows:

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

    

Weighted Average

 

 

 

Warrants

 

Warrants

 

Remaining

Exercise Price

 

Outstanding

 

Exercisable

 

Contractual Life

$

0.69

 

17,999,999

 

17,999,999

 

2.78 years

 

18.20

 

714

 

714

 

1.99 years

$

0.69

 

18,000,713

 

18,000,713

 

2.78 years