Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.20.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of fair values of stock options granted, estimated using Black-Scholes option valuation model assumptions
The fair values of stock options granted for the periods were estimated using the following assumptions:  
 
 
Stock Option Grants Awarded During the Three Months Ended March 31, 2020
 
Stock Option Grants Awarded During the Three Months Ended March 31, 2019
Stock Price
 
$1.74
 
$1.52 to $2.98
Dividend Yield
 
0.00%
 
0.00%
Expected Volatility
 
70%
 
70%
Risk-free interest rate
 
1.52%
 
2.52% - 2.62%
Expected Life
 
7 years
 
7 years
Summary of stock option activity
The following is a summary of our stock option activity during the three months ended March 31, 2020
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Life In
Years
Outstanding, January 1, 2020
1,340,252

 
$
4.57

 
$
2.88

 
6.95
Granted
10,000

 
1.74

 
1.16

 
9.87
Exercised

 

 

 
Canceled / Forfeited
(133,487
)
 
4.29

 
2.84

 
Outstanding, March 31, 2020
1,216,765

 
$
4.57

 
$
2.87

 
6.09

 
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Life In
Years
Exercisable, January 1, 2020
989,092

 
$
4.85

 
$
3.03

 
6.37
Vested
49,618

 
3.49

 
2.22

 
5.04
Exercised

 

 

 
Canceled / Forfeited
(27,316
)
 
5.69

 
3.69

 
Exercisable, March 31, 2020
1,011,394

 
$
4.76

 
$
2.97

 
5.60
Schedule of information related to stock options outstanding and exercisable
The following table presents information related to stock options outstanding and exercisable at March 31, 2020
Options Outstanding
 
Options Exercisable
Exercise
Price
 
Outstanding
Number of
Options
 
Weighted
Average
Remaining
Life In
Years
 
Exercisable
Number
of Options
$1.52 – $3.15
 
280,435

 
5.71
 
182,476

$3.25 – $4.92
 
538,780

 
6.20
 
462,564

$5.01 – $6.00
 
237,250

 
4.67
 
219,161

$6.18 – $7.20
 
70,000

 
5.02
 
61,259

$7.54 – $7.80
 
67,800

 
4.99
 
63,434

$8.06 – $12.98
 
22,500

 
4.80
 
22,500

 
 
1,216,765

 
5.60
 
1,011,394

Schedule of restricted stock unit activity
 A summary of restricted stock unit activity for the three months ended March 31, 2020 is as follows: 
 
Number of
Restricted Share
Units
 
Weighted-
Average
Grant-Date Fair
Value Per Share
Outstanding at January 1, 2020
2,556,004

 
$
3.38

Granted
1,824,965

 
1.69

Vested
(378,051
)
 
2.32

Forfeited
(240,954
)
 
2.45

Outstanding at March 31, 2020
3,761,964

 
$
2.72

Schedule of stock-based compensation
Total stock-based compensation recorded in the condensed consolidated statements of comprehensive loss is allocated as follows: 
 
 
Three Months Ended March 31, 2020
 
Three Months Ended March 31, 2019
Research and development
 
$
648,000

 
$
633,000

Sales, marketing and administration
 
731,000

 
721,000

   Total stock-based compensation
 
$
1,379,000

 
$
1,354,000