Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.1
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure Text Block Supplement [Abstract]  
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table presents information related to stock options at March 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       1,663,218       8.1       1,163,218  
    5.01-7.500       2,157,610       4.3       1,759,294  
    7.51-10.00       120,000       6.0       120,000  
            3,940,828       6.0       3,042,512  
Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the stock option activity and related information for the 2012 Plan for the three months ended March 31, 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

    -                          

Canceled

    -                          

Outstanding at March 31, 2019

    3,940,828     $ 5.25       6.0     $ 4,162,880  

Exercisable at March 31, 2019

    3,042,512     $ 5.36       4.8     $ 3,020,099  
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 three months ended March 31, 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  
Nonvested Restricted Stock Shares Activity [Table Text Block]
The following table summarizes the restricted stock activity for the three months ended March 31, 2019:

Total restricted shares issued as of December 31, 2018

    -  

Granted

    190,000  

Vested and issued

    (23,332

)

Vested restricted shares as of March 31, 2019

    -  

Unvested restricted shares as of March 31, 2019

    166,668  
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 March 31, 2019:

Exercise

   

Number

 

Expiration

Price

   

Outstanding

 

Date

$ 0.0025       153,328  

January 2020

$ 3.75       1,977,295  

April 2019 to August 2021

$ 4.375       633,272  

May 2021

$ 4.60       12,294  

January 2020

$ 4.875       352,943  

April 2019 to September 2019

$ 5.05       12,227  

January 2020

$ 6.85       217,958  

July 2021 to August 2021

$ 6.875       91,504  

August 2019 to September 2019

$ 9.375       536,267  

April 2019 to March 2020

          3,987,088    
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of the warrant activity for the three months ended March 31, 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

    (508,463

)

  $ 3.81                  

Expired

    (83,960

)

  $ 6.61       -       -  

Outstanding at March 31, 2019

    3,987,088     $ 4.81       1.2     $ 7,263,244  
                                 

Vested and expected to vest at March 31, 2019

    3,987,088     $ 4.81       1.2     $ 7,263,244  

Exercisable at March 31, 2019

    3,987,088     $ 4.81       1.2     $ 7,263,244