Equity Incentive Plan (Tables)
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6 Months Ended |
Jun. 30, 2019 |
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| Equity Incentive Plan |
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| Schedule of stock option activity |
The following is a summary of stock option activity under the Plans for the six months ended June 30, 2019 and 2018:
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Weighted-Average
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Number of
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Weighted- Average
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Contractual Life
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Options
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Exercise Price
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(In Years)
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Outstanding at December 31, 2018
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2,076,153
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$
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2.28
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6.51
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Granted
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750,000
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0.48
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Expired
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(48,737)
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1.08
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Outstanding at June 30, 2019
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2,777,416
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$
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1.81
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7.10
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Exercisable at June 30, 2019
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1,651,546
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$
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2.65
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5.62
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Vested and Expected to Vest at June 30, 2019
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2,777,416
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$
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1.81
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7.10
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Outstanding at December 31, 2017
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1,893,003
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$
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2.49
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5.40
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Granted
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275,500
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0.57
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Forfeited
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(1,500)
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0.83
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Expired
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(60,968)
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0.80
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Outstanding at June 30, 2018
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2,106,035
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$
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2.29
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4.66
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Exercisable at June 30, 2018
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1,429,484
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$
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2.65
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3.95
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Vested and Expected to Vest at June 30, 2018
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2,106,035
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$
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2.29
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4.66
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| Schedule of weighted average assumptions |
For the six months ended June 30, 2019 and 2018, the fair value of each option grant has been estimated on the date of grant using the Black-Scholes Option Pricing Model with the following weighted-average assumptions:
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2019
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2018
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Risk-Free Interest Rate
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1.82
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%
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1.82
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%
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Expected Life
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5.00
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years
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7.00
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years
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Expected Volatility
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152
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%
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159
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%
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Expected Dividend Yield
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0
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%
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0
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%
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| Schedule of restricted stock activity |
The following is a summary of restricted stock activity for the six months ended June 30, 2019 and June 30, 2018:
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Weighted- Average
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Number of
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Weighted- Average
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Remaining
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Shares
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Grant Date Fair Value
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Recognition Period
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Nonvested Outstanding at December 31, 2018
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1,822,132
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$
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0.59
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Vested
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(12,773)
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1.52
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Forfeited
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(3,141)
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$
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1.52
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Nonvested Outstanding at June 30, 2019
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1,806,218
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$
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0.58
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1.77
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Nonvested Outstanding at December 31, 2017
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103,000
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1.52
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Vested
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(45,490)
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1.52
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Nonvested Outstanding at June 30, 2018
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57,510
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$
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1.52
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1.60
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| Schedule of stock based compensation expense |
The total stock-based compensation expense for employees and non-employees is included in the accompanying Condensed Consolidated Statements of Operations and as follows:
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Three Months Ended
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Six Months Ended
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June 30,
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June 30,
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2019
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2018
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2019
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2018
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Research and Development
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$
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58,611
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$
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49,897
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$
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123,150
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$
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106,975
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General and Administrative
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177,579
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95,412
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345,946
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183,881
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Total Stock-Based Compensation Expense
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$
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236,190
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$
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145,309
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$
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469,096
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$
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290,856
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