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Stockholder's Equity | 3 Months Ended
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Mar. 31, 2023
Stockholders' Equity [Abstract] |
STOCKHOLDER’S EQUITY | NOTE 8 – STOCKHOLDER’S EQUITY Common Stock During the quarter ended March 31, 2023, the Company issued 545,342 shares of common stock for approximately $223,000 of interest accrued under the Convertible Notes. See Note 6 for details. 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’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 a 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.
Warrants There was no warrant activity for the three months ended March 31, 2023. As of March 31, 2023, there are warrants to acquire 1,229,226 shares for a weighted average exercise price of $4.62 per share with weighted average remaining life of 2.7 years. Stock Options During the quarter ended March 31, 2023, the Company granted 3 new directors, Messrs. Jisser, Thompson and Szoke 100,000 options each at the exercise price of $0.33 per share. The following table summarizes stock option information as of March 31, 2023:
|  |  |  |  | Contractual Life |  |  |  |
Exercise Price |  | Outstanding |  |  | (Yrs.) |  |  | Exercisable |
$.03 - $4.00 |  |  | 4,568,757 |  |  |  | 5.1 |  |  |  | 3,360,376 |
$4.01- $7.00 |  |  | 151,667 |  |  |  | 3.1 |  |  |  | 151,667 |
$7.01 - $10.00 |  |  | 1,782,262 |  |  |  | 6.6 |  |  |  | 951,705 |
$10.01 - $15.97 |  |  | 1,442,978 |  |  |  | 3.4 |  |  |  | 1,289,641 |
|  |  | 7,945,664 |  |  |  | 3.9 |  |  |  | 5,753,389 |
During the three months ended March 31, 2023, the Company recognized approximately $0.8 million of stock option based compensation expense. As of March 31, 2023, there was approximately $6.6 million of unrecognized compensation costs related to stock options outstanding that will be expensed through 2026.

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