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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Stockholders' Equity

Schedule of Black-Scholes option pricing model to stock options granted

In applying the Black-Scholes option pricing model to stock options granted, the Company used the following approximate assumptions:

​	​	​	​	​	​	​	​	​	​
​	​	For the Three Months Ended			​	For the Six Months Ended			​
​	​	June 30,			​	June 30,			​
​		2021		2020		2021		2020	​
Expected term (years)	​	5.85 - 10.00		5.85		5.85 - 10.00		5.85	​
Risk free interest rate	​	0.80% - 1.58	%	0.34% - 0.38	%	0.45% - 1.58	%	0.34% - 1.32	%
Expected volatility	​	93	%	99	%	93% - 94	%	96% - 99	%
Expected dividends	​	0.00	%	0.00	%	0.00	%	0.00	%

Schedule of the stock option activity

A summary of the option activity during the six months ended June 30, 2021 is presented below:

​	​	​	​	​	​	​	​	​	​	​
​				​			Weighted		​
​	​	​		Weighted			Average	​	​	​
​	​	​		Average			Remaining		Aggregate
​		Number of		Exercise			Life		Intrinsic
​		Options		Price			(in Years)		Value
Outstanding January 1, 2021		3,427,705	​	$	3.37				​
Granted		781,536	​		5.77				​
Exercised		(104,722)	​		1.95				​
Outstanding June 30, 2021		4,104,519	​	$	3.83		7.9	​	$	6,445,166
Exercisable June 30, 2021		2,185,978	​	$	3.52		6.9	​	$	4,241,183

Schedule of information related to stock options

The following table presents information related to stock options as of June 30, 2021:

​

​	​	​	​	​	​	​	​
Options Outstanding					Options Exercisable
​	​	​	​		Weighted	​	​
​	​		Outstanding		Average		Exercisable
Exercise			Number of		Remaining Life		Number of
Price			Options		In Years		Options
$	1.24		260,000	​	3.7		260,000
$	1.95		568,822	​	6.0		568,822
$	2.72		764,419	​	8.9		254,807
$	2.74		6,000	​	7.5		4,833
$	2.89		263,500	​	8.9		95,158
$	3.11		659,849	​	8.1		420,859
$	3.43		58,920	​	—		—
$	3.48	​	45,000	​	—	​	—
$	3.71		43,000	​	—		—
$	4.00		2,000	​	7.4		1,723
$	4.53		127,000	​	—		—
$	4.68	​	25,000	​	8.6	​	11,112
$	5.10	​	6,000	​	7.2	​	5,500
$	5.11	​	1,637	​	—	​	—
$	5.19	​	16,500	​	7.2	​	15,125
$	5.25	​	26,668	​	5.3	​	26,668
$	5.77	​	50,000	​	—	​	—
$	6.01	​	652,899	​	—	​	—
$	6.20	​	300,387	​	7.1	​	296,119
$	6.30		60,000	​	7.0		58,333
$	8.72	​	166,918	​	6.8	​	166,918
​	​	​	4,104,519	​	6.9	​	2,185,978

Summary of the Warrant activity and related information

A summary of the Warrant activity for the six months ended June 30, 2021 is presented below:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	Weighted		​	Average	​	​	​
​	​	​	​	Average		​	Remaining	​	Aggregate
​	​	Number of	​	Exercise		​	Life	​	Intrinsic
​		Warrants		Price			In Years		Value
Outstanding January 1, 2021		2,011,313	​	$	2.43				​
Granted		91,884	​		4.76				​
Exercised		(877,014)	​		2.40				​
Outstanding June 30, 2021		1,226,183	​	$	2.69		4.2	​	$	2,788,188
​	​	​	​	​	​	​	​	​	​	​
Exercisable June 30, 2021		1,226,183	​	$	2.69		4.2	​	$	2,788,188

​

The following table presents information related to Warrants as of June 30, 2021:

​	​	​	​	​	​	​
Warrants Outstanding			​	Warrants Exercisable
​	​	​	​	Weighted	​	​
​	​	Outstanding	​	Average	​	Exercisable
Exercise	​	Number of	​	Remaining Life	​	Number of
Price		Warrants		In Years		Warrants
$2.4696		917,919		3.7		917,919
$2.7240	​	216,380	​	3.7	​	216,380
$4.7600		91,884		9.9		91,884
​		1,226,183		4.2		1,226,183

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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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.

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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.

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