Stockholders' Equity (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Stockholders' equity: |
|
| Schedule of stock options issued by the Company |
| |
|
Options Outstanding |
|
|
Options Exercisable |
|
|
Range
of
Exercise Prices |
|
|
Weighted-
average
Exercise
price
per
share |
|
|
Intrinsic
Value (1) |
| Outstanding at January 1, 2018 |
|
|
1,238,199 |
|
|
|
|
|
|
$ |
1.95 |
|
|
$ |
385.60 |
|
|
$ |
12.47 |
|
|
$78,486 |
| Exercisable at January 1, 2018 |
|
|
|
|
|
|
567,210 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Activity during the year ended December 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
167,500 |
|
|
|
|
|
|
$ |
1.40 |
|
|
$ |
2.18 |
|
|
$ |
1.81 |
|
|
$11,050 |
| Cancelled or forfeited |
|
|
(19,303 |
) |
|
|
|
|
|
$ |
1.95 |
|
|
$ |
385.60 |
|
|
$ |
18.77 |
|
|
|
| Outstanding at December 31, 2018 |
|
|
1,386,396 |
|
|
|
|
|
|
$ |
1.40 |
|
|
$ |
385.60 |
|
|
$ |
11.09 |
|
|
$11,050 |
| Exercisable at December 31, 2018 |
|
|
|
|
|
|
973,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
| Activity during the year ended December 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
256,601 |
|
|
|
|
|
|
$ |
1.65 |
|
|
$ |
4.11 |
|
|
$ |
3.44 |
|
|
$348,828 |
| Exercised |
|
|
(3,025 |
) |
|
|
|
|
|
$ |
1.74 |
|
|
$ |
2.60 |
|
|
$ |
1.89 |
|
|
|
| Cancelled or forfeited |
|
|
(805 |
) |
|
|
|
|
|
$ |
2.60 |
|
|
$ |
385.60 |
|
|
$ |
95.37 |
|
|
|
| Outstanding at December 31, 2019 |
|
|
1,639,167 |
|
|
|
|
|
|
$ |
1.40 |
|
|
$ |
83.60 |
|
|
$ |
9.87 |
|
|
$2,892,027 |
| Exercisable at December 31, 2019 |
|
|
|
|
|
|
1,293,121 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$2,244,783 |
| |
(1) |
Intrinsic value is calculated as the estimated fair value of the Company’s stock at the end of the related period less the option exercise price of in-the-money options. |
|
| Schedule of stock options (contractual life expressed in years) |
| |
|
|
Options Outstanding |
|
|
Options Exercisable |
|
| Range of Exercise Prices |
|
|
Number
Outstanding |
|
|
Weighted -
Average
Remaining
Contractual
Life |
|
|
Weighted -
Average
Exercise
Price Per
Share |
|
|
Number
Exercisable |
|
|
Weighted -
Average
Remaining
Contractual
Life |
|
|
Weighted -
Average
Exercise
Price Per
Share |
|
| |
$1.40-$45.20 |
|
|
|
1,563,540 |
|
|
|
7.72 |
|
|
$ |
7.01 |
|
|
|
1,217,494 |
|
|
|
7.42 |
|
|
$ |
8.17 |
|
| |
$46.40--$83.60 |
|
|
|
75,627 |
|
|
|
1.88 |
|
|
$ |
69.09 |
|
|
|
75,627 |
|
|
|
1.88 |
|
|
$ |
69.09 |
|
| |
|
|
|
|
1,639,167 |
|
|
|
7.45 |
|
|
$ |
9.87 |
|
|
|
1,293,121 |
|
|
|
7.10 |
|
|
$ |
11.73 |
|
|
| Schedule of company's nonvested stock options |
| Nonvested Stock Options |
|
Shares |
|
|
Weighted -
Average
Per Share
Grant Date
Fair Value |
|
| Nonvested, January 1, 2018 |
|
|
670,989 |
|
|
$ |
1.45 |
|
| Activity during the year ended December 31, 2018 |
|
|
|
|
|
|
|
|
| Granted |
|
|
167,500 |
|
|
|
0.95 |
|
| Forfeited |
|
|
(15,327 |
) |
|
|
25.22 |
|
| Vested |
|
|
(442,879 |
) |
|
|
1.71 |
|
| Nonvested, December 31, 2018 |
|
|
380,283 |
|
|
|
0.94 |
|
| Activity during the year ended December 31, 2019 |
|
|
|
|
|
|
|
|
| Granted |
|
|
256,601 |
|
|
|
1.72 |
|
| Exercised |
|
|
(2,725 |
) |
|
|
1.89 |
|
| Forfeited |
|
|
(580 |
) |
|
|
42.66 |
|
| Vested |
|
|
(287,533 |
) |
|
|
1.35 |
|
| Nonvested, December 31, 2019 |
|
|
346,046 |
|
|
$ |
1.46 |
|
|
| Schedule of share-based compensation expense |
| Years Ended December 31, |
| 2019 |
|
2018 |
| $ 799,111 |
|
$ 1,231,379 |
|
| Schedule of assumptions used in calculating the fair value under the Black-Scholes option-pricing model |
| |
|
Years Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Dividend yield |
|
|
0% |
|
|
|
0% |
|
| Expected Volatility |
|
|
52.17% to 52.90% |
|
|
|
51.58% to 54.21% |
|
| Risk free Interest rates |
|
|
1.39% to 1.72% |
|
|
|
2.77% to 3.00% |
|
| Expected lives (in years) |
|
|
5.5 to 6.0 |
|
|
|
5.8 |
|
|
| Schedule of common stock warrant activity |
| |
|
|
Shares |
|
|
Weighted -
Average
Exercise
Price |
|
| Outstanding at January 1, 2018 |
|
|
|
8,949,078 |
|
|
$ |
4.12 |
|
| Activity during the year ended December 31, 2018 |
|
|
|
|
|
|
|
|
|
| Exercised
|
|
|
|
(221,773 |
) |
|
$ |
2.15 |
|
| Terminated
|
|
|
|
(50,824 |
) |
|
$ |
6.64 |
|
| Outstanding at December 31, 2018 |
|
|
|
8,676,481 |
|
|
$ |
4.17 |
|
| Activity during the year ended December 31, 2019 |
|
|
|
|
|
|
|
|
|
| Exercised
|
|
|
|
(2,928,681 |
) |
|
$ |
2.20 |
|
| Terminated
|
|
|
|
(215,533 |
) |
|
$ |
35.32 |
|
| Outstanding at December 31, 2019 |
|
|
|
5,532,267 |
|
|
$ |
4.00 |
|
|
| Schedule of information regarding outstanding warrants |
Exercise
Price |
|
|
Number
Outstanding |
|
|
Weighted -
Average
Remaining
Contractual
Life |
|
|
Intrinsic Value (1)
|
|
| $ |
1.83 |
|
|
|
1,540 |
|
|
|
0.96 |
|
|
$ |
4,574 |
|
| $ |
2.20 |
|
|
|
4,025,167 |
|
|
|
2.40 |
|
|
|
10,465,434 |
|
| $ |
5.50 |
|
|
|
1,110,580 |
|
|
|
1.67 |
|
|
|
— |
|
| $ |
16.23 |
|
|
|
242,021 |
|
|
|
0.96 |
|
|
|
— |
|
| $ |
21.10 |
|
|
|
152,084 |
|
|
|
0.96 |
|
|
|
— |
|
| $ |
40.00 |
|
|
|
875 |
|
|
|
0.07 |
|
|
|
— |
|
| |
|
|
|
|
5,532,267 |
|
|
|
2.15 |
|
|
$ |
10,470,008 |
|
|