Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Value of Each Option Award Estimated Assumption

For stock options requiring an assessment of value during the six months ended June 30, 2021, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

         
Risk-free interest rate     0.89 %
Expected dividend yield     0 %
Expected volatility     198.79 %
Expected life     3.5 to 3.6 years  
Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months and six months ended June 30, 2021 and 2020 is as follows:

 

                             
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2021     2020     2021     2020  
                         
Related parties   $ 850,804     $     $ 1,506,836     $  
Non-related parties                        
Total stock-based compensation costs   $ 850,804     $     $ 1,506,836     $  
Summary of Stock Option Activity Including Options Form of Warrants

A summary of stock option activity, including options issued in the form of warrants, during the six months ended June 30, 2021 is presented below.

 

   

Number of

Shares

   

Weighted

Average

Exercise

Price

   

Weighted

Average Remaining Contractual

Life (in Years)

 
                   
Stock options outstanding at December 31, 2020     1,475,000     $ 4.136          
Granted     1,200,000       3.048          
Exercised     (125,001 )     0.808          
Expired                    
Adjustment attributable to reverse stock split     1                
Stock options outstanding at June 30, 2021     2,550,000     $ 3.787       3.79  
                         
Stock options exercisable at June 30, 2021     1,650,000     $ 3.831       3.24  
Schedule of Exercise Prices of Common Stock Options Outstanding and Exercisable Including Options Form of Warrants

The exercise prices of common stock options outstanding and exercisable, including options issued in the form of warrants, at June 30, 2021 are as follows:

 

Exercise

Prices

   

Options

Outstanding
(Shares)

   

Options

Exercisable
(Shares)

 
               
$ 0.900       33,333       33,333  
$ 1.200       83,333       83,333  
$ 1.680       66,667       66,667  
$ 2.800       250,000       125,000  
$ 3.000       666,667       666,667  
$ 3.030       500,000        
$ 3.200       250,000       125,000  
$ 3.210       200,000       200,000  
$ 6.000       166,667       166,667  
$ 6.600       50,000       50,000  
$ 7.140       200,000       50,000  
$ 12.000       83,333       83,333  
          2,550,000       1,650,000