Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.23.1
Equity Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Incentive Plan  
Schedule of stock option activity The following is a summary of stock option activity for the years ended December 31, 2022 and 2021:
Number of
Options		 Weighted Average
Exercise Price		 Weighted Average
Contractual Life
(In Years)
Outstanding at December 31, 2020 6,249 $ 840.88  2.30
Granted 8,654 164.30 
Expired (825) 1,046.00   
Forfeited (1,124) 259.70   
Outstanding at December 31, 2021 12,954 $ 426.25  5.56
Exercisable at December 31, 2021 5,087 $ 847.31  3.09
Vested and Expected to Vest at December 31, 2021 12,954 $ 426.25  5.56
Granted 78,641 8.49 
Expired (14) 842.57 
Forfeited (6,830) 446.34 
Outstanding at December 31, 2022 84,751 $ 36.92  9.59
Exercisable at December 31, 2022 4,939 $ 442.52  7.27
Vested and Expected to Vest at December 31, 2022 84,751 $ 36.92  9.59
Schedule of weighted average assumptions For the years ended December 31, 2022 and 2021, 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:
2022 2021
Risk-Free Interest Rate 2.42% 1.82%
Expected Life 5.0 years 10.0 years
Expected Average Volatility 140% 140%
Expected Dividend Yield 0% 0%
Schedule of restricted stock activity
The following is a summary of restricted stock activity for the years ended December 31, 2022 and 2021:
Number of
Shares		 Weighted-Average
Grant Date Fair Value		 Weighted-Average
Remaining
Recognition Period
Non-vested Outstanding at December 31, 2020 1,697 $ 283.23  1.66
Released (1,173) 292.62 
Forfeited (149) 264.04 
Non-vested Outstanding at December 31, 2021 375 $ 261.47  1.09
Awarded 30,000 6.78 
Released (248) 261.45 
Forfeited (127) 261.51 
Non-vested Outstanding at December 31, 2022 30,000 $ 6.78  2.79
Schedule of stock-based compensation expense
The total stock-based compensation expense for employees and non-employees is included in the accompanying Consolidated Statements of Operations and as follows:
Year Ended December 31,
2022 2021
Research and Development $ 343,475  $ 246,386 
General and Administrative 118,975  596,089 
Total Stock-Based Compensation Expense $ 462,450  $ 842,475