Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity (Tables)

v3.22.1
Stockholders’ Equity (Tables)
3 Months Ended
Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share Based Payments Award Stock Options Valuation Assumptions

 

Assumptions:

 

    2022     2021  
Dividend yield     0.00 %     0.00 %
Risk-free interest rate     0.95-1.65 %     0.19-0.67 %
Expected volatility     106.4-110.0 %     117.0124.0 %
Expected life (in years)     5     5
Schedule of Stock Option Activity

Option activity for the three months ended March 31, 2022 and the year ended December 31, 2021 was as follows:

 

    Options     Weighted Average Exercise Price ($)     Weighted Average Remaining Contractual Life (Yrs.)     Aggregate Intrinsic Value ($)  
                         
Options outstanding at December 31, 2020     713,010       5.15       4.40       477,802  
Granted     698,831       3.29       4.39       46,800  
Exercised     (5,204 )     2.50       -       -  
Forfeited or cancelled     (10,755 )     3.49       -       -  
Options outstanding at December 31, 2021     1,395,882       4.24       3.89       -  
Granted     162,000       2.50       4.94       -  
Exercised     -       -       -       -  
Forfeited or cancelled     (10,085 )     3.60       -       -  
Options outstanding March 31, 2022     1,547,797       4.06       3.78       -  
Options expected to vest in the future as of March 31, 2022     526,617       3.29       4.12       -  
Options exercisable at March 31, 2022     1,021,180       4.46       3.60       -  
Options vested, exercisable, and options expected to vest at March 31, 2022     1,547,797       4.06       3.78       -  
Schedule of Warranty Activity

Warrant activity for the three months ended March 31, 2022 the year ended December 31, 2021 was as follows:

 

    Warrants     Weighted Average Exercise Price ($)     Weighted Average Remaining Contractual Life (Yrs.)  
Warrants outstanding at December 31, 2020     1,881,429       7.57       4.16  
Granted     2,602,143       4.36       1.63  
Exercised     (495,641 )     -       -  
Forfeited or cancelled     -       -       -  
Warrants outstanding at December 31, 2021     3,987,931       6.10       2.10  
Granted     -       -       -  
Exercised     -       -       -  
Forfeited or cancelled     (162,150 )     40.00       -  
Warrants outstanding at March 31, 2022     3,825,781       4.66       1.94  
Stock Appreciation Rights [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share Based Payments 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 three months ended March 31, 2022 and the year ended December 31, 2021:

 

Assumptions:

 

    2022     2021  
Dividend yield     0.00 %     0.00 %
Risk-free interest rate     0.82-1.65 %      0.39-0.40 % 
Expected volatility     108.4%-119.0 %     123.0 %
Expected life (in years)     5     5

Schedule of Stock Option Activity

SARs activity for the three months ended March 31, 2022 and the year ended December 31, 2021 was as follows:

 

    Options     Weighted Average Exercise Price ($)     Weighted Average Remaining Contractual Life (Yrs.)     Aggregate Intrinsic Value ($)  
                -        
SARs outstanding at December 31, 2020     127,679       2.61       4.52       97,919  
Granted     242,945       3.43       4.61       -  
Exercised     -       -       -       -  
Forfeited or cancelled     -       -       -       -  
SARs outstanding at December 31, 2021     370,624       3.15       4.24       -  
Granted     45,033       2.33       4.86       -  
Exercised     -       -       -       -  
Forfeited or cancelled     -       -       -       -  
SARs outstanding March 31, 2022     415,657       3.06       4.08       2,046  
SARs expected to vest in the future as of March 31, 2022     339,732       3.16       4.16       -  
SARs exercisable at March 31, 2022     75,925       2.63       3.74       2,046  
SARs vested, exercisable, and SARs expected to vest at March 31, 2022     415,657       3.06       1.08       2,046