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Stockholders' equity (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Schedule of outstanding warrants

The following table summarizes information about outstanding warrants at March 31, 2020:

		Number of warrant shares			Weighted average exercise price
Outstanding at December 31, 2019		1,662,304				$3.25
Outstanding at March 31, 2020		1,662,304				$3.25
Exercisable at March 31, 2020		1,662,304				$3.25

Schedule of restricted stock activity

A summary of the Company’s shares of restricted stock as of March 31, 2020, is as follows:

		Shares			Weighted average grant date fair value
Balance at December 31, 2019		39,900				$3.51
Granted		100,319			1.88
Vested		(40,626	)		2.01
Balance at March 31, 2020		99,593				$2.00

Schedule of stock option activity

The Company’s option activity is summarized as follows:

		Number of options			Weighted average exercise price
Outstanding at December 31, 2019		573,925				$4.94
Issued		98,458			1.97
Expired		(14,835	)		11.62
Outstanding at March 31, 2020		657,548				$4.35
Exercisable at March 31, 2020		524,398				$4.93

Fair value of stock option grants

The fair values of stock option grants to employees and members of the Board of Directors during 2020 were measured on the date of grant using Black-Scholes, with the following weighted average assumptions:

		March 2020		January 2020
Expected volatility		102%		101%
Risk free interest rate		0.66%		1.67%
Expected dividend yield		0%		0%
Expected life (in years)		5		5

Summary of options outstanding and exercisable

The following table summarizes information about options outstanding and exercisable at March 31, 2020:

Weighted average exercise price of outstanding options		Number of options outstanding			Weighted average remaining estimated life (in years)		Number of options exercisable			Weighted average exercise price of outstanding and exercisable options
$1.88 - $2.50		525,519			9.0		392,369
$3.30 - $6.90		37,139			2.3		37,139
$7.50 - $10.80		21,303			4.1		21,303
$14.20 - $23.40		73,587			6.1		73,587
		657,548					524,398			$4.93

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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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.

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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.

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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.

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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