XML 24 R15.htm IDEA: XBRL DOCUMENT
v3.21.2

Stockholders’ Equity | 9 Months Ended
--- | ---
Sep. 30, 2021
Equity [Abstract] |
Stockholders’ Equity | Note 10. Stockholders’ Equity During the nine months ended September 30, 2021, we issued 539,998 options to purchase our common stock to employees. The exercise price of the options were $0.38-$0.59 per share, with a combination of both cliff and graded vesting over 3 years and are exercisable for a period of 8 years. The fair value of the options issued ($177,751, in the aggregate) was calculated using the Black-Scholes option pricing model, based on the criteria shown below. Summary of Fair Value of Options Using Black-Sholes Option Pricing Model
Expected life (in years) |  |  | 5.5-8 |
Volatility (based on a comparable company) |  |  | 85.05%-89.37 | %
Risk Free interest rate |  |  | .725%-1.32 | %
Dividend yield (on common stock) |  |  | - |
For the nine months ended September 30, 2021, the Company issued 148,810 options for board director compensation, and 460,000 options were cancelled. The total amount of equity-based compensation included in additional paid in capital was $41,574 and $45,692 for the three months ended September 30, 2021 and 2020, respectively. The total amount of equity-based compensation included in additional paid in capital was $51,857 and $240,216 for the nine months ended September 30, 2021 and 2020, respectively. The following is a summary of outstanding stock options issued to employees and directors as of September 30, 2021: Summary of Outstanding Stock Options Issued to Employees and Directors
|  | Number of Options |  |  | Exercise price per share $ |  |  | Average remaining term in years |  |  | Aggregate intrinsic value at date of grant $ |
Outstanding January 1, 2021 |  |  | 7,640,959 |  |  |  | .34 - .87 |  |  |  | 2.97 |  |  |  | - |
Issued - Employees |  |  | 539,998 |  |  |  | .43 - .46 |  |  |  | 7.69 |  |  |  | - |
Issued - Directors |  |  | 148,810 |  |  |  | .42 |  |  |  | 7.56 |  |  |  |  |
Cancelled/Expired |  |  | (460,000 | ) |  |  |  |  |  |  |  |  |  |  |  |
Outstanding September 30 2021 |  |  | 7,869,767 |  |  |  | .34 - .87 |  |  |  | 3.21 |  |  |  | - |
Exercisable, September 30, 2021 |  |  | 6,693,669 |  |  |  | .34 - .87 |  |  |  | 3.10 |  |  |  | - |
Barfresh Food Group Inc. Notes to Condensed Consolidated Financial Statements September 30, 2021 (Unaudited) As of September 30, 2021, the Company has $192,500 of total unrecognized share-based compensation expense related to unvested options, which is expected to be amortized over the remaining weighted average period of 3.21 years. The following is Changes in Stockholders’ Equity as of September 30, 2020 and September 30, 2021: Schedule of Changes in Stockholders' Equity
|  |  |  |  |  |  |  | Additional |  |  |  |  |  |  |
|  | Common Stock |  |  | paid in |  |  | Accumulated |  |  |  |
|  | Shares |  |  | Amount |  |  | Capital |  |  | (Deficit) |  |  | Total |
Balance January 1, 2020 |  |  | 130,341,737 |  |  | $ | 130 |  |  | $ | 47,030,716 |  |  |  | (46,747,122 | ) |  | $ | 283,724 |
Issuance of stock for capital raise, net of offering costs of $27,200 |  |  | 12,955,725 |  |  |  | 8 |  |  |  | 3,797,792 |  |  |  | - |  |  |  | 3,797,800 |
Conversion of debt |  |  | 4,778,043 |  |  |  | 5 |  |  |  | 1,333,757 |  |  |  | - |  |  |  | 1,333,762 |
Interest paid in shares |  |  | 632,251 |  |  |  | - |  |  |  | 379,350 |  |  |  | - |  |  |  | 379,350 |
Issuance of stock for services |  |  | 263,946 |  |  |  | - |  |  |  | 105,000 |  |  |  | - |  |  |  | 25,000 |
Equity based compensation |  |  | - |  |  |  | - |  |  |  | 240,216 |  |  |  | - |  |  |  | 194,524 |
Warrants issued to management |  |  | - |  |  |  | - |  |  |  | 167,892 |  |  |  | - |  |  |  | 167,892 |
Warrant Modification |  |  | - |  |  |  | - |  |  |  | 18,899 |  |  |  | - |  |  |  | 18,899 |
Warrant issued for note extension |  |  | - |  |  |  | - |  |  |  | 75,184 |  |  |  | - |  |  |  | 75,184 |
Restricted stock issuance |  |  | 121,527 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Net (loss) for the year |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,800,843 | ) |  |  | (2,800,843 | )
Balance September 30, 2020 |  |  | 149,093,829 |  |  | $ | 143 |  |  | $ | 53,148,806 |  |  |  | (49,547,965 | ) |  | $ | 3,600,984 |
Barfresh Food Group Inc. Notes to Condensed Consolidated Financial Statements September 30, 2021 (Unaudited)
|  |  |  |  |  |  |  | Additional |  |  |  |  |  |  |
|  | Common Stock |  |  | paid in |  |  | Accumulated |  |  |  |
|  | Shares |  |  | Amount |  |  | Capital |  |  | (Deficit) |  |  | Total |
Balance January 1, 2021 |  |  | 149,133,372 |  |  | $ | 149 |  |  | $ | 53,223,665 |  |  |  | (50,899,628 | ) |  | $ | 2,324,186 |
Issuance of stock for capital raise, |  |  | 16,666,666 |  |  |  | 17 |  |  |  | 5,999,983 |  |  |  | - |  |  |  | 6,000,000 |
Conversion of debt and accrued interest |  |  | 1,489,976 |  |  |  | 2 |  |  |  | 685,388 |  |  |  | - |  |  |  | 685,390 |
Interest paid in shares |  |  | 251,897 |  |  |  | - |  |  |  | 151,138 |  |  |  | - |  |  |  | 151,138 |
Issuance of stock for services |  |  | 59,524 |  |  |  | - |  |  |  | 75,000 |  |  |  | - |  |  |  | 75,000 |
Equity based compensation |  |  | - |  |  |  | - |  |  |  | 51,857 |  |  |  | - |  |  |  | 51,857 |
Net (loss) for the year |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,395,419 | ) |  |  | (1,395,419 | )
Balance September 30, 2021 |  |  | 167,601,435 |  |  | $ | 168 |  |  | $ | 60,187,031 |  |  |  | (52,295,047 | ) |  | $ | 7,892,152 |
On June 1, 2021, the Company completed a private placement of 16,666,666 shares of its common stock at $0.36 per share, resulting in gross proceeds of $6,000,000. In addition, holders of debt converted a total of $399,000 in principal and $234,410 in interest into 1,741,873 shares of common stock, and debt in the amount of $840,000 was retired.

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

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration