Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.20.2
Stock Options and Restricted Stock Units (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Common Stock Options Issued Under Option Plans

A summary of the common stock options issued under the 2016 Plan and prior stock option plans for the nine months ended September 30, 2020 is as follows (shares and prices have been adjusted to account for a 25:1 reverse split):

 

   

Number

Outstanding

   

Weighted

Avg. Exercise

Price

   

Weighted

Avg.

Remaining

Contractual

Life (Years)

 
Balance, December 31, 2019     340,619     $ 3.00       3.9  
Options issued     128,000       0.50       9.2  
Balance, September 30, 2020     468,619       1.75       5.9  
Schedule of Vested and Exercisable Options at Period End

The vested and exercisable options at period end follows:

 

   

Exercisable/

Vested

Options Outstanding

   

Weighted

Avg. Exercise

Price

   

Weighted

Avg.

Remaining Contractual

Life (Years)

 
Balance, September 30, 2020     460,619     $ 1.75       5.9  
Schedule of Fair Value of New Stock Options Granted Using the Assumptions

The fair value of new stock options granted and repriced stock options using the Black-Scholes option pricing model was calculated using the following assumptions for the nine months ended September 30, 2020:

 

   

Nine Months Ended

Sept. 30, 2020

 
Risk free interest rate     1.610 %
Expected volatility     149.67 %
Expected dividend yield     - %
Expected term in years     5.0