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Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Changes in Stockholders' Equity

The following are changes in stockholders’ equity for the nine months ended September 30, 2021 and September 30, 2022:

 

Barfresh Food Group, Inc.

Condensed Consolidated Statements of Stockholders’ Equity

 

                          
           Additional         
   Common Stock   paid in   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
Balance December 31, 2020   11,471,797   $-   $53,224,000   $(50,900,000)  $2,324,000 
Issuance of stock for capital raise   1,282,051    -    6,000,000    -    6,000,000 
Conversion of debt and accrued interest   114,614    -    685,000    -    685,000 
Interest paid in shares   19,377    -    151,000    -    151,000 
Issuance of stock for services   4,579    -    75,000    -    75,000 
Equity based compensation   -    -    52,000    -    52,000 
Net loss   -    -    -    (1,396,000)   (1,396,000)
Balance September 30, 2021   12,892,418   $-   $60,187,000   $(52,296,000)  $7,891,000 

 

           Additional         
   Common Stock   paid in   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
Balance December 31, 2021   12,905,112   $-   $60,341,000   $(52,165,000)  $8,176,000 
Shares issued for warrant exercise   986    -    5,000    -    5,000 
Equity based compensation   5,000    -    211,000    -    211,000 
Issuance of stock for services   23,643    -    173,000    -    173,000 
Net loss   -    -    -    (4,339,000)   (4,339,000)
Balance September 30, 2022   12,934,741   $-   $60,730,000   $(56,504,000)  $4,226,000 
Summary of Stock Options Activity

The following is a summary of stock option activity for the nine months ended September 30, 2022:

 

   Number of Options  

Weighted

average

exercise price per share

  

Remaining

term in

years

 
Outstanding on December 31, 2021   625,016   $7.55    3.8 
Issued   56,980   $5.90      
Cancelled/expired   (17,644)  $5.08      
Outstanding on September 30, 2022   664,352   $7.38    3.2 
                
Exercisable, September 30, 2022   577,242   $7.64    2.7 
Summary of Fair Value of Options Using Black-Sholes Option Pricing Model

The fair value of the options issued was calculated using the Black-Scholes option pricing model, based on the following:

 

   2022 
Expected term (in years)   5.5 - 8 
Weighted average expected volatility   84.8%
Weighted average risk-free interest rate   2.1%
Expected dividends  $- 
Weighted average grant date fair value per share  $4.53 
Summary of Performance Stock Unit Activity

The following is a summary of restricted stock award and restricted stock unit activity for the nine months ended September 30, 2022:

 

  

Number of

shares

  

Weighted

average grant

date fair value

 
Unvested at January 1, 2022   -   $- 
Granted   41,554   $5.27 
Forfeited   (4,631)  $5.38 
Unvested at September 30, 2022   36,923   $5.25 
Performance Shares [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Performance Stock Unit Activity

The following table summarizes the activity for the Company’s unvested PSUs for the nine months ended September 30, 2022:

 

  

Number of

shares

  

Weighted

average grant

date fair value

 
Unvested at January 1, 2022   -   $- 
Granted   123,512   $4.50 
Forfeited   (1,889)  $4.50 
Unvested at September 30, 2022   121,623   $4.50