Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.20.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Schedule of Options Activity

    Options     Weighted
Average
Exercise Price per Share
    Weighted
Average
Remaining
Life (Years)
 
Outstanding – December 31, 2017   $ 1,227,774     $ 3.01     $ 7.18  
Granted     338,750       4.75       9.65  
Forfeited     (71,920 )     4.41       7.16  
Exercised     (48,017 )     0.07       (4.24 )
Outstanding – December 31, 2018   $ 1,446,587     $ 3.16     $ 7.87  
Granted     200,000       3.17       9.41  
Forfeited     (3,043 )     9.06       (0.89 )
Exercised     (87,212 )     0.75       3.79  
Outstanding – December 31, 2019   $ 1,556,332     $ 3.62     $ 6.16  

Schedule of Fair Value Assumptions for Options Granted

The fair value for options granted in 2019 and 2018 is estimated at the date of grant using a Black-Scholes-Merton options pricing model with the following underlying assumptions:

 

Price at valuation   $ 2.83 - 3.40  
Exercise price   $ 2.83 - 3.40  
Risk free interest     1.77 – 2.79 %
Expected term (in years)     5  
Volatility     48% - 58.6 %

Schedule of Stock Based Expenses Recognized for Services from Employees and Non-Employees

The total stock-based expense recognized in the financial statements for services received from employees and non-employees is shown in the following table.

 

    Year Ended  
    December 31,  
    2019     2018  
             
Research and development   $ -     $ -  
Selling and marketing     44       16  
General and administrative     669       873  
                 
Total   $ 713     $ 889  

Schedule of Warrants Activity

    Warrants  
Outstanding – December 31, 2017     2,641,165  
Granted     -  
Exercised     -  
Expired     (245,893 )
Outstanding – December 31, 2018     2,395,272  
Granted     2,315,000  
Exercised     -  
Expired     -  
Outstanding – December 31, 2019     4,710,272  

Schedule of Fair Value Assumptions for Warrants

In estimating the warrants’ fair value, the Company used the following assumptions:

 

Risk free interest     2.56 %
Dividend yield     0 %
Volatility     55.6% - 56.5 %
Contractual term (in years)     2