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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Schedule of stockholders' equity note, warrants or rights | As of March 31, 2022 and 2021, we had the following outstanding warrants to purchase shares of common stock:
| As of March 31, 2022 |  | As of March 31, 2021 |  |  |  |
| Number of Underlying Shares |  | Exercise Price |  | Expiration
Investor Warrants | 187,734 |  | 269,180 |  | $3.3700 |  | January 13, 2025
Placement Agent Warrants | 41,680 |  | 41,680 |  | $4.9940 |  | January 13, 2025
| 229,414 |  | 310,860 |  |  |  |
Summary of stock-based compensation expense | The following table summarizes stock-based compensation expense and the impact it had on operations for the periods presented (in thousands):
|  |  | Three months ended March 31,
|  |  |  |  | 2022 |  | 2021
Cost of sales |  |  |  |  | $ | 1 |  |  | $ | 2 |
Product development |  |  |  |  | 6 |  |  | 6 |
Selling, general, and administrative |  |  |  |  | 37 |  |  | 132 |
Total stock-based compensation |  |  |  |  | $ | 44 |  |  | $ | 140 |
Schedule of valuation assumptions | Estimates utilized in the calculation include the expected life of the option, risk-free interest rate, and expected volatility, and are further detailed below.
| Three months ended March 31,
| 2022 |  | 2021
Fair value of options issued | $ | 1.17 |  |  | $ | 4.26 |
Exercise price | $ | 1.48 |  |  | $ | 5.51 |
Expected life of options (in years) | 6.1 |  | 6.2
Risk-free interest rate | 1.9 | % |  | 0.8 | %
Expected volatility | 99.2 | % |  | 96.3 | %
Dividend yield | 0.0 | % |  | 0.0 | %
Summary of option activity | A summary of option activity under all outstanding stock incentive plans for the three months ended March 31, 2022 is presented as follows:
| Number of Options |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Life (in years)
Balance at December 31, 2021 | 267,109 |  |  | $ | 3.46 |  |  |
Granted | 60,000 |  |  | 1.48 |  |  |
Canceled/forfeited | (58,100) |  |  | 2.88 |  |  |
Balance at March 31, 2022 | 269,009 |  |  | $ | 3.15 |  |  | 8.4
Vested and expected to vest at March 31, 2022 | 229,323 |  |  | $ | 3.19 |  |  | 8.2
Exercisable at March 31, 2022 | 113,027 |  |  | $ | 3.37 |  |  | 7.5
Summary of restricted stock activity | A summary of restricted stock unit activity under all outstanding stock incentive plans for the three months ended March 31, 2022 is presented as follows:
| Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Life (in years)
Balance at December 31, 2021 | 2,400 |  |  | $ | 7.14 |  |  |
Granted | 40,000 |  |  | 1.40 |  |  |
Balance at March 31, 2022 | 42,400 |  |  | $ | 1.72 |  |  | 1.3

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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