Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.22.2
Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2021
Equity Incentive Plan  
Schedule of stock option activity

    

    

    

Weighted-Average

Number of

Weighted-Average

Contractual Life

    

 Options

    

Exercise Price

    

(In Years)

Outstanding at December 31, 2019

174,175

$

27.42

 

6.22

Granted

 

93,165

 

6.31

 

Expired

 

(17,114)

 

10.59

 

  

Forfeited

 

(3,333)

 

7.20

 

  

Outstanding at December 31, 2020

 

246,893

$

20.90

 

7.20

Exercisable at December 31, 2020

142,061

$

31.58

5.85

Vested and Expected to Vest at December 31, 2020

246,893

$

20.90

7.20

Granted

 

345,865

 

4.11

 

Expired

 

(32,544)

 

25.86

 

Forfeited

 

(44,292)

 

6.49

 

Outstanding at December 31, 2021

 

515,922

$

10.43

 

8.30

Exercisable at December 31, 2021

 

201,653

$

22.00

 

6.37

Vested and Expected to Vest at December 31, 2021

 

515,922

$

10.43

 

8.30

Schedule of weighted average assumptions

    

2021

    

2020

 

Risk-Free Interest Rate

 

1.82

%  

1.82

%

Expected Life

 

10.0 years

 

10.0 years

Expected Average Volatility

 

140

%  

153

%

Expected Dividend Yield

 

0

%  

0

%

Schedule of restricted stock activity

    

    

    

Weighted-Average

Number of

Weighted-Average

Remaining

    

Shares

    

Grant Date Fair Value

    

Recognition Period

Non-vested Outstanding at December 31, 2019

50,187

$

8.64

1.49

Awarded

 

49,000

 

6.55

 

  

Vested

(31,767)

8.69

Non-vested Outstanding at December 31, 2020

 

67,420

$

7.10

 

1.66

Vested

 

(46,437)

 

7.33

 

  

Forfeited

 

(5,971)

 

6.66

 

  

Non-vested Outstanding at December 31, 2021

 

15,012

$

6.55

 

1.09

Schedule of stock-based compensation expense

Year Ended December 31, 

    

2021

    

2020

Research and Development

$

246,386

$

197,806

General and Administrative

596,089

526,050

Total Stock-Based Compensation Expense

$

842,475

$

723,856