XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.20.2

Stockholders' Equity (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Stockholders Equity Note [Abstract] |
Summary of Stock Option Activity | A summary of stock option activity under each of the Company’s stock option plans during the nine months period ended September 30, 2020:
|  | Stock Options Outstanding |
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2020 |  |  | 1,686,444 |  |  | $ | 1.30 |  |  |  | 4.22 |  |  | $ | 1,535,987 |
Granted |  |  | 432,125 |  |  | $ | 2.71 |  |  |  |  |  |  |  |  |
Forfeited / Cancelled |  |  | (38,197 | ) |  | $ | 2.51 |  |  |  |  |  |  |  |  |
Exercised |  |  | (744,951 | ) |  | $ | 0.87 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2020 |  |  | 1,335,421 |  |  | $ | 1.81 |  |  |  | 6.66 |  |  | $ | 616,432 |
Exercisable at September 30, 2020 |  |  | 845,649 |  |  | $ | 1.53 |  |  |  | 5.01 |  |  | $ | 616,323 |
Vested and expected to vest at September 30, 2020 |  |  | 1,320,728 |  |  | $ | 1.81 |  |  |  | 6.63 |  |  | $ | 616,429 |
Schedule of Assumption to Calculate Weighted Average Grant Date Fair Value of Options Grant | The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company:
|  | For the Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |
Expected term (in years) |  | 5.04 |  |  | 4.65 - 5.87 |
Expected volatility |  | 43.5 - 47.80% |  |  | 43.7 - 44.4% |
Risk-free interest rate |  |  | 0.33 | % |  | 2.49 - 2.55% |
Weighted average grant date fair value per share |  | $ | 0.83 |  |  | $ | 1.07 |
Grant date fair value of options vested |  | $ | 545,388 |  |  | $ | 574,524 |
Intrinsic value of options exercised |  | $ | 917,625 |  |  | $ | 551,134 |
Schedule of Restricted Stock Unit Activity | The Company’s restricted stock unit activity for the nine months ended September 30, 2020 is as follows:
|  | Restricted Stock Units |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested at January 1, 2020 |  |  | 216,670 |  |  | $ | 3.02 |
Granted |  |  | 554,251 |  |  | $ | 2.51 |
Vested |  |  | (148,751 | ) |  | $ | 3.15 |
Cancelled |  |  | (38,333 | ) |  | $ | 2.41 |
Unvested at September 30, 2020 |  |  | 583,837 |  |  | $ | 2.54 |
Summary of Stock-Based Compensation Expense | Stock-based compensation expense for the three and nine month periods ended September 30, 2020 and 2019 was comprised of the following:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
Stock-based compensation classified as: |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
General and administrative |  | $ | 171,636 |  |  | $ | 120,188 |  |  | $ | 373,667 |  |  | $ | 357,679 |
Production |  |  | 15,118 |  |  |  | 18,140 |  |  |  | 50,856 |  |  |  | 52,131 |
Marketing and selling |  |  | 15,696 |  |  |  | 15,011 |  |  |  | 50,062 |  |  |  | 44,472 |
Research and development |  |  | 7,830 |  |  |  | 11,518 |  |  |  | 28,834 |  |  |  | 35,858 |
|  | $ | 210,280 |  |  | $ | 164,857 |  |  | $ | 503,419 |  |  | $ | 490,140 |
Schedule of Warrant Activity | The following table summarizes the Company’s warrant activity during the nine months ended September 30, 2020:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |
Warrants outstanding – January 1, 2020 |  |  | 630,947 |  |  | $ | 4.16 |
Warrants granted |  |  | - |  |  | $ | - |
Warrants exercised |  |  | (78,948 | ) |  | $ | 0.76 |
Warrants outstanding – September 30, 2020 |  |  | 551,999 |  |  | $ | 4.65 |

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration