XML 23 R29.htm IDEA: XBRL DOCUMENT v3.19.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Awards and Restricted Stock Grants

A summary of stock option awards and restricted stock grants for the nine-months ended September 30, 2019 is presented below:

 

    Stock Options     Restricted Stock Awards    

Weighted

Average

 
   

Options

Outstanding

   

Weighted

Average

Exercise

Price

   

Non-vested

Restricted

Stock

Outstanding

   

Weighted

Average

Grant

Date

Fair Value

   

Contractual

Terms of

Equity

Awards

(in years)

 
Equity awards outstanding at January 1, 2019     3,148,743     $ 2.67       22,500     $ 2.72          
                                         
Equity awards granted     840,754     $ 2.14       24,750     $ 2.07          
                                         
Vested and issued     -     $ -       (25,500 )   $ 2.49          
                                         
Equity awards forfeited, cancelled or expired     (38,355 )   $ 2.38       -     $ -          
                                         
Equity awards outstanding at September 30, 2019     3,951,142     $ 2.56       21,750     $ 2.22       8.7  
                                         
Aggregate intrinsic value of outstanding equity awards at September 30, 2019   $ -             $ 27,500                  
                                         
Equity awards exercisable at September 30, 2019     2,440,699     $ 2.77                       8.4  
                                         
Aggregate intrinsic value of equity awards exercisable at September 30, 2019   $ 33,495                                  

Schedule of Assumptions Used to Determine Fair Value of Options Granted

The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model:

 

   

Nine Months Ended

September 30,

 
    2019     2018  
Risk-free interest rate     1.69% - 2.65 %     2.82 -3.02 %
Expected volatility     101.3 -106.2 %     99.9 – 102.1 %
Expected life (in years)     6.5 - 9.2       8.0-10.0  
Expected dividend yield     - %     - %