Annual report pursuant to Section 13 and 15(d)

OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Tables)

v3.20.1
OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2019:

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Exercisable

 

Exercise

 

 

Number of

 

 

Remaining Life

 

 

Number of

 

Price

 

 

Options

 

 

In Years

 

 

Options

 

$

2.51-5.00

 

 

 

1,533,361

 

 

 

7.7

 

 

$

1,168,361

 

 

5.01-7.50

 

 

 

2,124,110

 

 

 

5.1

 

 

 

1,552,044

 

 

7.51-10.00

 

 

 

323,333

 

 

 

8.0

 

 

 

153,612

 

 

 

 

 

 

3,980,804

 

 

 

6.3

 

 

 

2,874,017

 

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 years ended December 31, 2019 and 2018 is as follows:

                   

Weighted-Average

         
           

Weighted-Average

   

Remaining

   

Aggregate

 
   

Shares

   

Exercise Price

   

Contractual Term

   

Intrinsic Value

 

Outstanding at January 1, 2018

    3,404,131     $ 5.28       5.7     $ -  

Grants

    559,698     $ 4.65       10.0     $ -  

Exercised

    (140,001

)

  $ 4.40       -       -  

Canceled

    (688,000

)

  $ 4.64               -  

Outstanding at December 31, 2018

    3,135,828     $ 5.34       5.2     $ -  

Grants

    1,599,053       5.99       10.0     $ -  

Exercised

    (550,077

)

  $ 5.44                  

Canceled

    (204,000

)

  $ 5.51                  

Outstanding at December 31, 2019

    3,980,804     $ 5.58       6.3     $ 3,130,791  

Exercisable at December 31, 2019

    2,874,017     $ 5.47       5.1     $ 2,469,138  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

 

 

 

 

 

Risk-free interest rate

 

 

2.65% to 3.16

%

Dividend yield

 

 

0

%

Stock price volatility

 

 

92.08% to 94.10

%

Expected life

 

 

5 to 10 years

 

Weighted average grant date fair value

 

$

3.37

 

 

 

 

 

 

Risk-free interest rate

 

 

1.45% to 2.74

%

Dividend yield

 

 

0

%

Stock price volatility

 

 

86.74% to 91.55

%

Expected life

 

 

5 to 10 years

 

Weighted average grant date fair value

 

$

5.75

 

Risk-free interest rate

 

 

2.33% - 2.40

%

Dividend yield

 

 

0

%

Stock price volatility

 

 

89.97

%

Expected life

 

0.12– 2 years

 

Risk-free interest rate

 

 

1.56

%

Dividend yield

 

 

0

%

Stock price volatility

 

 

71.0

%

Expected life

 

5 years

 

Nonvested Restricted Stock Shares Activity [Table Text Block]
The following table summarizes the restricted stock activity for the two years ended December 31, 2019:

Restricted shares issued as of January 1, 2018

    -  

Granted

    -  

Vested

    -  

Total restricted shares issued as of December 31, 2018

    -  

Granted

    376,000  

Vested

    (113,332

)

Vested restricted shares as of December 31, 2019

    25,000  

Unvested restricted shares as of December 31, 2019

    262,668  
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 December 31, 2019:

Exercise

 

 

Number

 

Expiration

Price

 

 

Outstanding

 

Date

$

0.0025

 

 

 

153,328

 

January 2020

$

3.75

 

 

 

715,844

 

February 2020 to January 2021

$

4.375

 

 

 

602,272

 

April 2021 to May 2021

$

4.60

 

 

 

9,167

 

January 2020

$

5.05

 

 

 

8,566

 

January 2020

$

6.16

     

568,910

 

November 2027

$

6.85

 

 

 

205,523

 

July 2021 to August 2021

$

9.375

 

 

 

481,108

 

March 2020

 

 

 

 

 

2,744,718

 

 

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of the warrant activity for the years ended December 31, 2019 and 2018 is as follows:

                   

Weighted-Average

         
           

Weighted-Average

   

Remaining

   

Aggregate

 
   

Shares

   

Exercise Price

   

Contractual Term

   

Intrinsic Value

 

Outstanding at January 1, 2018

    5,115,805     $ 4.55       1.7     $ 551,636  

Grants

    1,375,374     $ 4.54       3.0       -  

Exercised

    (770,717

)

  $ 3.99       -       -  

Canceled/Expired

    (1,140,951

)

  $ 4.23       -       -  

Outstanding at December 31, 2018

    4,579,511     $ 4.73       1.5     $ 1,924,388  

Grants

    568,910       6.16       7.0       -  

Exercised

    (2,170,406

)

  $ 3.99                  

Canceled/Expired

    (233,297

)

  $ 7.24                  

Outstanding at December 31, 2019

    2,744,718     $ 5.40       2.2     $ 3,410,763  
                                 

Vested and expected to vest at December 31, 2019

    2,744,718     $ 5.40       2.2     $ 3,410,763  

Exercisable at December 31, 2019

    2,744,718     $ 5.40       2.2     $ 3,410,763