Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Warrants (Tables)

v3.22.0.1
Stock-Based Compensation and Warrants (Tables)
12 Months Ended
Dec. 31, 2021
Stock-Based Compensation and Warrants  
Schedule of assumptions used for awards

Year ended December 31,

 

    

2021

    

2020

 

Exercise price

$

0.33

$

0.42

Expected dividends

 

0

%  

0

%

Expected volatility

 

92

%  

88

%

Risk free interest rate

 

1.12

%  

0.31

%

Expected life of option (years)

 

4.3

4.3

Summary of stock option activity

A summary of stock option activity for the years ended December 31, 2021 and 2020 is as follows:

    

    

Weighted 

    

Weighted Average 

    

Aggregate 

Average Exercise 

Remaining 

Intrinsic 

Options

Price

Contractual Life

Value

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

 

3,997,418

2.35

 

6.09 years

 

  

 

  

 

  

 

  

Granted

 

2,260,000

0.33

 

  

 

  

Exercised

 

 

  

Expired

 

(2,143)

45.15

 

  

 

  

Forfeited

 

 

  

 

  

 

  

 

  

 

  

 

  

Balance -December 31, 2021 - outstanding

 

6,255,275

$

1.61

 

5.58 years

$

 

 

  

 

  

 

  

Balance -  December 31, 2021 - exercisable

 

2,786,934

$

3.16

 

4.44 years

$

 

  

 

  

 

  

 

  

Grant date fair value of options granted - December 31, 2021

 

  

$

501,000

 

  

 

  

 

  

 

  

 

  

 

  

Weighted average grant date fair value - December 31, 2021

 

  

$

0.22

 

  

 

  

 

  

 

 

  

 

  

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

 

  

$

412,000

 

  

 

  

 

  

 

  

 

  

 

  

Weighted average grant date fair value - December 31, 2020

 

  

$

0.27

 

  

 

  

Schedule of options outstanding and exercisable

The options outstanding and exercisable at December 31, 2021 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

 

6,189,257

$

0.75

 

6 years

 

2,720,916

$

1.25

 

4 years

41.00 – $70.00

 

6,221

 

52.07

 

2 years

 

6,221

 

52.07

 

2 years

71.00 – $102.00

 

59,797

85.19

 

2 years

 

59,797

85.19

 

2 years

Summary of all warrant activity

A summary of all warrant activity for the Company for the years ended December 31, 2021 and 2020 is as follows:

    

Number of

    

Weighted Average

Warrants

Exercise Price

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

Granted

 

 

Exercised

 

(11,655,747)

 

Forfeited

 

 

0.69

Balance at December 31,2021

 

6,344,966

$

0.69

Summary of all outstanding and exercisable warrants

    

    

    

Weighted Average

Warrants

Warrants

Remaining

Exercise Price

Outstanding

Exercisable

Contractual Life

$

0.69

 

6,344,252

 

6,344,252

 

0.99 years

18.20

 

714

 

714

 

1.78 years

$

0.69

 

6,344,966

 

6,344,966

 

1.78 years