Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
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 three months ended March 31, 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     0.80 %
Expected dividend yield     0 %
Expected volatility     201.47 %
Expected life     2.5 years  
Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months ended March 31, 2022 and 2021 is as follows:

 

    2022     2021  
   

Three Months Ended

March 31,

  
    2022     2021  
             
Related parties   $ 339,672     $ 656,032  
Non-related parties     —       —  
Total stock-based compensation costs   $ 339,672     $ 656,032  
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 three months ended March 31, 2022 is presented below.

 

   

Number of

Shares

    

Weighted

Average

Exercise

Price

    

Weighted

Average
Remaining Contractual

Life (in Years)

  
                   
Stock options outstanding at December 31, 2021     2,666,667     $ 3.738          
Granted     —       —          
Exercised     —       —          
Expired     —       —          
Stock options outstanding at March 31, 2022     2,666,667     $ 3.738       3.17  
                         
Stock options exercisable at March 31, 2022     2,097,917     $ 3.737       2.94  
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 March 31, 2022 are as follows:

 

Exercise

Prices

    

Options

Outstanding
(Shares)

    

Options

Exercisable
(Shares)

  
               
$ 0.900       33,333       33,333  
$ 1.680       66,667       66,667  
$ 2.060       200,000       200,000  
$ 2.800       250,000       171,875  
$ 3.000       666,667       666,667  
$ 3.030       500,000       187,500  
$ 3.200       250,000       171,875  
$ 3.210       200,000       200,000  
$ 6.000       166,667       166,667  
$ 6.600       50,000       50,000  
$ 7.140       200,000       100,000  
$ 12.000       83,333       83,333  
          2,666,667       2,097,917