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Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Summary of Fair Value of Options Using Black-Sholes Option Pricing Model

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.

 

 

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)   - 
Summary of Outstanding Stock Options Issued to Employees and Directors

The following is a summary of outstanding stock options issued to employees and directors as of September 30, 2021:

 

 

   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          - 
Schedule of Changes in Stockholders' Equity

The following is Changes in Stockholders’ Equity as of September 30, 2020 and September 30, 2021:

 

 

           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