Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense is presented in the same expense line items as cash compensation paid and for the three months ended March 31 is as follows:
Three months ended March 31
2023 2022
Research and Development $ 64,687  $ 32,620 
General and Administrative 71,254  183,301 
Total Stock-Based Compensation Expense $ 135,941  $ 215,921 
Schedule of weighted average assumptions A summary of the Company’s assumptions used in determining the fair value of the stock options granted during the three months ended March 31, 2023 and 2022 is shown in the following table.
Three months ended March 31
2023 2022
Risk-Free Interest Rate 4.26  % 2.42  %
Expected Life (years) 5.00 5.00
Expected Stock Price Volatility 142  % 140  %
Expected Dividend Yield —  % —  %
Schedule of stock option activity
Following is a summary of stock option activity for the three months ended March 31, 2023:
Number of
Options		 Weighted- Average
Exercise Price		 Weighted- Average
Remaining
Term in Years
Outstanding at December 31, 2022 84,751 $ 36.92  9.59
Granted 126,900 $ 3.83 
Expired (44) $ 295.00 
Forfeited (29) $ — 
Outstanding at March 31, 2023 211,578 $ 17.01  9.69
Exercisable and vested at March 31, 2023 7,499 $ 306.00  7.62
Schedule of restricted stock activity The following is a summary of restricted stock activity for the three months ended March 31, 2023:
Number of
Units		 Weighted- Average
Grant Date Fair Value		 Weighted- Average
Remaining
Term in Years
Non-vested Outstanding at December 31, 2022 30,000 $ 6.78  2.79
Awarded 40,550 $ 3.83 
Released 0 $ — 
Forfeited 0 $ — 
Non-vested Outstanding at March 31, 2023 70,550 $ 5.08  2.76