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STOCKHOLDERS’ EQUITY
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

 

10. STOCKHOLDERS’ EQUITY

 

Stock Issued For Acquisition

 

The Company issued 1,055,000 shares of its common stock upon acquiring certain assets of All Cell Technologies, LLC. See further discussion in note 3. Business Combination.

 

Awards Under Stock Incentive Plans

 

Stock Options

 

Option activity for the three months ended March 31, 2022 is as follows: 

          
   Number of Options   Weighted Average Exercise Price 
Outstanding at December 31, 2021   263,433   $11.56 
Granted   6,000    17.59 
Outstanding at March 31, 2022   269,433   $11.30 

 

The Company’s stock option compensation expense was $0.1 million for each of the three months ended March 31, 2022 and 2021, and there was $1.0 million of total unrecognized compensation costs related to outstanding stock options at March 31, 2022 which will be recognized over 4.0 years.

 

Restricted Stock

 

A summary of activity of the restricted stock awards for the three months ended March 31, 2022 is as follows: 

          
   Nonvested
Shares		   Weighted- Average Grant- Date Fair Value 
Nonvested at December 31, 2021   13,669   $20.78 
Granted   7,436    20.17 
Vested   (5,714)   19.20 
Nonvested at March 31, 2022   15,391   $20.78 

 

As of March 31, 2022, there were unreleased shares of common stock representing $0.3 million of unrecognized restricted stock grant expense which will be recognized over approximately three years.

  

Warrants

 

A summary of activity of warrants outstanding for the years ended March 31, 2022 is as follows: 

          
   Number of
Warrants		   Weighted
Average
Exercise Price		 
Outstanding at December 31, 2021   519,658   $6.30 
Exercised   13,944    6.30 
Outstanding at March 31, 2022   505,714   $6.30