Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity (Tables)

v3.21.2
Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the nine months ended September 30, 2021 and 2020:

 

Assumptions:

 

    2021     2020  
Dividend yield     0.00 %     0.00 %
Risk-free interest rate     0.19 – 0.70 %     0.22-1.52 %
Expected volatility     116.8- 123.8 %     114.0-117.0 %
Expected life (in years)     5       5  
Schedule of Stock Option Activity

Option activity for the nine months ended September 30, 2021 and the year ended December 31, 2020 was as follows:

 

          Weighted Average     Weighted Average        
          Exercise     Remaining     Aggregate  
          Price     Contractual     Intrinsic  
    Options     ($)     Life (Yrs.)     Value ($)  
Options outstanding at December 31, 2019     180,912       18.11       5.09       25,988  
Granted     579,998       2.55       4.57       -  
Exercised     -       -       -       -  
Forfeited or cancelled     (47,900 )     22.62       -       -  
Options outstanding at December 31, 2020     713,010       5.15       4.40       477,802  
Granted     697,831       3.29       4.64       46,800  
Exercised     (5,204 )     2.50       -       -  
Forfeited or cancelled     (5,230 )     4.41       -       -  
Options outstanding September 30, 2021     1,400,407       4.24       4.14       267,577  
Options expected to vest in the future as of September 30, 2021     574,146       3.59       4.29       110,275  
Options exercisable at September 30, 2021     826,261       4.68       4.04       157,302  
Options vested, exercisable, and options expected to vest at September 30, 2021     1,400,407       4.24       4.14       267,577  
Summary of Warrant Activity

Warrant activity for the nine months ended September 30, 2021 and 2020 was as follows:

 

          Weighted Average     Weighted Average  
          Exercise     Remaining  
          Price     Contractual  
    Warrants     ($)     Life (Yrs.)  
Warrants outstanding at December 31, 2019     363,727       25.60       3.12  
Granted     1,481,995       3.22       4.89  
Exercised     -       -       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at September 30, 2020     1,845,722       7.64       4.39  
                         
Warrants outstanding at December 31, 2020     1,881,429       7.57       4.16  
Granted     2,602,143       4.36       1.89  
Exercised     (495,641 )     2.59       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at September 30, 2021     3,987,931       6.10       2.36  
Stock Appreciation Rights [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of SAR awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the nine months ended September 30, 2021 and 2020:

Assumptions:

 

    2021     2020  
Dividend yield     0.00 %     0.00 %
Risk-free interest rate     0.4 %     0.22 %
Expected volatility     122.8 %     116.8 %
Expected life (in years)     5       5  
Schedule of Stock Option Activity

SARs activity for the nine months ended September 30, 2021 was as follows:

 

          Weighted Average     Weighted Average        
          Exercise     Remaining     Aggregate  
          Price     Contractual     Intrinsic  
    SARs     ($)     Life (Yrs.)     Value ($)  
                         
SARs outstanding at December 31, 2020     127,679       2.61       4.52       97,919  
Granted     242,945       3.43       4.86       -  
Exercised     -       -       -       -  
Forfeited or cancelled     -       -       -       -  
SARs outstanding September 30, 2021     370,624       3.15       4.49       51,955  
SARs expected to vest in the future as of September 30, 2021     250,975       3.19       4.52       29,687  
SARs exercisable at September 30, 2021     119,649       3.08       4.42       22,268  
SARs vested, exercisable, and options expected to vest at September 30, 2021     370,624       3.15       4.49       51,955