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Stockholder's Equity | 3 Months Ended
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Mar. 31, 2022
Stockholder's Equity [Abstract] |
STOCKHOLDER’S EQUITY | NOTE 10 – STOCKHOLDER’S EQUITY Common Stock During the quarter ended March 31, 2022, shares of common stock were issued as a result of the following transactions:
| ● | On March 18 and March 21, 2022, the Company entered into Subscription Agreements (the “Subscription Agreements”) with an accredited investor and certain members of authID.ai’s management team (the “PIPE Investors”), and, pursuant to the Subscription Agreements, sold to the PIPE Investors a total of 1,063,514 shares of our common stock at prices of $3.03 per share for an outside investor and $3.70 per share for the management investors (the “PIPE”). The aggregate gross proceeds from the PIPE are approximately $3.3 million.
| ● | The Company issued total of approximately 28,500 shares of our common stock to the Note Investors as an additional origination fee.
| ● | Certain warrant and stock option holders exercised their respective warrants and stock options by means of the cashless exercise feature and were issued approximately 186,488 common shares of the Company.
During the quarter ended March 31, 2021, shares of common stock were issued as a result of the following non-cash transactions:
| ● | Convertible notes totaling $120,000 and a portion of their accrued interest at the option of the noteholders were converted into approximately 33,000 shares of common stock of the Company.
| ● | Certain warrant and stock option holders exercised their respective warrants and stock options by means of the cashless exercise feature and were issued approximately 441,000 common shares of the Company.
Warrants The following is a summary of the Company’s warrant activity for the three months ended March 31, 2022:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Life |
Outstanding at December 31, 2021 |  |  | 1,403,610 |  |  | $ | 4.61 |  |  |  | 3.0 years |
Granted |  |  | 142,690 |  |  | $ | 3.70 |  |  |  | 5.0 Years |
Exercised/cancelled |  |  | (1,667 | ) |  | $ | 2.64 |  |  |  | 4.2 years |
Outstanding at March 31, 2022 |  |  | 1,544,633 |  |  | $ | 4.18 |  |  |  | 2.91 years |
Stock Options The Company determined the grant date fair value of options granted for the quarter ended March 31, 2022, using the Black Scholes Method and the following assumptions:
Expected volatility |  |  | 127 | %
Expected term |  |  | 5 years |
Risk free rate |  |  | 2.14 | %
Dividend rate |  |  | 0.00 | %
Activity related to stock options for the three months ended March 31, 2022, is summarized as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Term (Yrs.) |  |  | Aggregate Intrinsic Value |
Outstanding as of December 31, 2021 |  |  | 8,910,994 |  |  | $ | 4.50 |  |  |  | 7.5 |  |  | $ | 8,283,639 |
Granted |  |  | 546,204 |  |  |  | 2.83 |  |  |  | 10.0 |  |  | $ | - |
Exercised |  |  | (281,031 | ) |  |  | 3.28 |  |  |  | 8.8 |  |  |  | 3,485,482 |
Forfeited/cancelled |  |  | (25,000 | ) |  |  | 12.93 |  |  |  |  |  |  |  | - |
Outstanding as of March 31, 2022 |  |  | 9,151,167 |  |  | $ | 6.34 |  |  |  | 6.7 |  |  | $ | 6,233,571 |
Exercisable as of March 31, 2022 |  |  | 4,676,151 |  |  | $ | 5.34 |  |  |  | 4.3 |  |  | $ | 5,271,207 |
The following table summarizes stock option information as of March 31, 2022:
Exercise Price |  | Outstanding |  |  | Weighted Average Contractual Life (Yrs.) |  |  | Exercisable |
$.03 - $4.00 |  |  | 3,875,463 |  |  |  | 5.1 |  |  |  | 3,041,687 |
$4.01 - $7.00 |  |  | 151,667 |  |  |  | 4.5 |  |  |  | 151,667 |
$7.01 - $10.00 |  |  | 3,432,802 |  |  |  | 9.1 |  |  |  | 416,131 |
$10.01 - $15.97 |  |  | 1,691,235 |  |  |  | 5.6 |  |  |  | 1,066,666 |
|  |  | 9,151,167 |  |  |  | 6.7 |  |  |  | 4,676,151 |
During the three months ended March 31, 2022, the Company recognized approximately $1,867,000 of stock option based compensation expense of which approximately $798,000 relates to market condition-based awards of directors and officers. As of March 31, 2022, there was approximately $14,528,000 of unrecognized compensation costs related to stock options outstanding that will be expensed through 2025.

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&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 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: 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 https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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