Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six months ended June 30, 2020 and 2019:

 

                Weighted Average        
          Weighted     Remaining        
          Average     Contractual     Aggregate  
    Number of     Exercise     Life     Intrinsic  
    Options     Price     (in Years)     Value  
Outstanding - January 1, 2020     295,793     $ 8.88       7.5     $ -  
Granted     30,000       3.69       10.0          
Exercised     -       -       -          
Forfeited     (259,667 )     9.21       -          
Outstanding - June 30, 2020     66,126     $ 5.24       8.8     $ -  
                                 
Exercisable at June 30, 2020     26,126     $ 8.18       7.5     $ -  

 

          Weighted     Weighted Average        
          Average     Remaining Contractual     Aggregate  
    Number of     Exercise     Life     Intrinsic  
    Options     Price     (in Years)     Value  
Outstanding - January 1, 2019     499,439     $ 6.94     $ 9.0     $ -  
Granted     30,000       2.23       -          
Exercised     -       -       -          
Forfeited     (210,313 )     3.98       -          
Outstanding - June 30, 2019     319,126     $ 8.44       8.1     $ 8,400  
                                 
Exercisable at June 30, 2019     252,459     $ 9.97       7.8     $ 2,800  

Schedule of Fair Value Measurement Assumptions

The fair value of share options were estimated using the following assumptions:

 

    Six Months Ended  
    June 30, 2020  
Expected dividend yield     -  
Risk-free interest rate     0.33 %
Expected volatility     111.55 %
Expected term (in years)     5.75  
Grant-date fair value of stock options awarded   $ 3.03  

Schedule of Restricted Stock Award Activity

As of June 30, 2020 and 2019, the following is a summary of restricted stock activity:

 

    Number of  
    Shares  
Outstanding - January 1, 2020     27,319  
Granted     306,775  
Forfeited     -  
Vested     (127,319 )
Outstanding - June 30, 2020     206,775  

 

    Number of  
    Shares  
Outstanding - January 1, 2019     60,651  
Granted     47,568  
Forfeited     (13,865 )
Vested     (27,761 )
Outstanding - June 30, 2019     66,593