XML 46 R31.htm IDEA: XBRL DOCUMENT v3.20.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option and Restricted Stock Awards

A summary of stock option awards and restricted stock grants for the three-months ended March 31, 2020 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, 2020     4,332,142     $ 2.63       8,750     $ 1.59          
                                         
Equity awards granted     36,000     $ 1.16       429,855     $ 1.16          
                                         
Vested and issued     -     $ -       (429,855 )   $ 1.16          
                                         
Equity awards forfeited, cancelled or expired     (20,000 )   $ 2.27       -     $ -          
                                         
Equity awards outstanding at March 31, 2020     4,348,142     $ 2.62       8,750     $ 1.59       8.2  
                                         
Aggregate intrinsic value of outstanding equity awards at March 31, 2020   $ -             $ 7,875                  
                                         
Equity awards exercisable at March 31, 2020     2,591,536     $ 2.93                       8.4  
                                         
Aggregate intrinsic value of equity awards exercisable at March 31, 2020   $ -                                  

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:

 

   

Three Months Ended

March 31,

 
    2020     2019  
Risk-free interest rate     1.33 %     2.65 %
Expected volatility     102.7 %     101.3 -106.2 %
Expected life (in years)     8.5       7.5 - 9.3  
Expected dividend yield     - %     - %