Quarterly report pursuant to Section 13 or 15(d)

NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Tables)

v3.19.2
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Tables)
6 Months Ended
Jun. 30, 2019
Disclosure Text Block Supplement [Abstract]  
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]
The following table presents information related to stock options at June 30, 2019:

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Exercisable

 

 

Exercise

 

 

Number of

 

 

Remaining Life

 

 

Number of

 

 

Price

 

 

Options

 

 

In Years

 

 

Options

 

 

$

2.51-5.00

 

 

 

1,538,361

 

 

 

8.2

 

 

 

1,076,699

 

 

 

5.01-7.500

 

 

 

1,904,544

 

 

 

3.3

 

 

 

1,670,812

 

 

 

7.51-10.00

 

 

 

120,000

 

 

 

5.8

 

 

 

120,000

 

 

 

 

 

 

 

3,562,905

 

 

 

5.5

 

 

 

2,867,511

 

Share-based Payment Arrangement, Option, Activity [Table Text Block]
A summary of the stock option activity and related information for the 2012 Plan for the six months ended June 30, 2019 is as follows:

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

Remaining

 

 

Aggregate

 

 

 

Shares

 

 

Exercise Price

 

 

Contractual Term

 

 

Intrinsic Value

 

Outstanding at December 31, 2018

 

 

3,135,828

 

 

$

5.34

 

 

 

5.2

 

 

$

311,545

 

Grants

 

 

805,000

 

 

 

4.90

 

 

 

10.0

 

 

$

-

 

Exercised

 

 

(223,923

 

$

4.91

 

 

 

2.38

 

 

 

 

 

Forfeited/expired

 

 

(154,000

)

 

5.65

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

3,562,905

 

 

$

5.25

 

 

 

5.49

 

 

$

14,810,188

 

Exercisable at June 30, 2019

 

 

3,562,905

 

 

$

5.38

 

 

 

4.52

 

 

$

11,555,767

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following assumptions were used in determining the fair value of options during the six months ended June 30, 2019, and the change in fair value of the modified options at May 17, 2019:

Risk-free interest rate

 

 

2.53% - 2.74

%

Dividend yield

 

 

0

%

Stock price volatility

 

 

90.73% to 91.55

%

Expected life

 

6 – 10 years

 

Weighted average grant date fair value

 

$

4.244

 

Risk-free interest rate

 

 

2.33% - 2.40

%

Dividend yield

 

 

0

%

Stock price volatility

 

 

89.97%

%

Expected life

 

0.12– 2 years

 

Nonvested Restricted Stock Shares Activity [Table Text Block]
The following table summarizes the restricted stock activity for the six months ended June 30, 2019:

Total restricted shares issued as of December 31, 2018

    -  

Granted

    190,000  

Vested and issued

    (53,332

)

Vested restricted shares as of June 30, 2019

    -  

Unvested restricted shares as of June 30, 2019

    136,668  
Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Table Text Block]
The following table summarizes information with respect to outstanding warrants to purchase common stock of the Company at June 30, 2019:

Exercise

 

 

Number

 

Expiration

Price

 

 

Outstanding

 

Date

$

0.0025

 

 

 

153,328

 

January 2020

$

3.75

 

 

 

1,355,200

 

October 2019 to August 2021

$

4.375

 

 

 

618,272

 

April 2021 to May 2021

$

4.60

 

 

 

9,385

 

January 2020

$

4.875

 

 

 

67,006

 

August 2019 to September 2019

$

5.05

 

 

 

9,556

 

January 2020

$

6.85

 

 

 

209,377

 

July 2021 to August 2021

$

6.875

 

 

 

89,240

 

August 2019 to September 2019

$

9.375

 

 

 

481,108

 

March 2020

 

 

 

 

 

2,992,472

 

 

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of the warrant activity for the six months ended June 30, 2019 is as follows:

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

Remaining

 

 

Aggregate

 

 

 

Shares

 

 

Exercise Price

 

 

Contractual Term

 

 

Intrinsic Value

 

Outstanding at December 31, 2018

 

 

4,579,511

 

 

$

4.73

 

 

 

1.5

 

 

$

1,924,388

 

Grants

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,433,285

)

 

$

4.02

 

 

 

 

 

 

 

 

 

Expired

 

 

(153,754

)

 

$

7.43

 

 

 

-

 

 

 

-

 

Outstanding at June 30, 2019

 

 

2,992,472

 

 

$

4.93

 

 

 

1.1

 

 

$

13,335,761

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at June 30, 2019

 

 

2,992,472

 

 

$

4.93

 

 

 

1.1

 

 

$

13,335,761

 

Exercisable at June 30, 2019

 

 

2,992,472

 

 

$

4.93

 

 

 

1.1

 

 

$

13,335,761