Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

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STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2018
Stock-based Compensation  
Equity Incentive Plan

    Awards Reserved for Issuance     Awards Issued     Awards Available for Grant  
                   
2016 Equity Incentive Plan     30,000,000       2,552,731       27,447,269  

Stock option activity

    Number of Shares      Weighted-Average Exercise Price Per Share      Weighted-Average Remaining Contractual Life    Aggregate Intrinsic Value of In-the-Money Options   
             
                       
Options Outstanding as of Janury 1, 2018     1,177,732     $ 2.17            
                           
Options Granted     800,000     $ 4.41            
Options Exercised     -       -            
Options Forfeited     -       -            
Options Expired     -       -            
Options Outstanding as of March 31, 2018     1,977,732     $ 3.08      9.1 Years    $ 522,600  
Options Exercisable as of Mach 31, 2018     659,774     $ 2.20      8.5 Years    $ 391,950  
                             
Options Granted     66,667     $ 3.75              
Options Exercised     -       -              
Options Forfeited     -       -              
Options Expired     -       -              
Options Outstanding as of June 30, 2018     2,044,399     $ 3.10      8.89 Years    $ 361,800  
Options Exercisable as of June 30, 2018     828,941     $ 2.38      8.42 Years    $ 301,500  
                             
Options Granted     945,000     $ 2.02              
Options Exercised     -       -              
Options Forfeited     -       -              
Options Expired     (436,668 )     2.36              
Options Outstanding as of September 30, 2018     2,552,731     $ 2.83      9.16 Years    $ 258,666  
Options Exercisable as of September 30, 2018     819,409     $ 2.66      8.51 Years    $ 189,861  

Weighted-average assumptions stock-based compensation

    September 2018  
Expected Term (years)   6 - 6.5 Years  
Volatility   124.4-128.0%  
Risk-Free Interest Rate   2.5-2.9%  
Dividend Yield     0 %

Stock-Based Compensation Expense

    For the Three Months Ended  
    September 30, 2018     September 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                         
Stock Options     945,000     $ 690,686       132,051     $ 234,580  
                                 
Stock Grants:                                
Employees (Common Stock)     14,744       36,959       49,815       170,148  
Employees (Series A Preferred Stock)     4       8       -       -  
Employees (Series B Preferred Stock)     -       -       -       -  
Directors (Common Stock)     49,500       99,991       -       -  
Non–Employee Consultants (Common Stock)     5,700       9,858       135,172       445,068  
                                 
Total Stock–Based Compensation Expense           $ 837,502             $ 849,796  

 

    For the Nine Months Ended  
    September 30, 2018     September 30, 2017   
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                         
Stock Options     1,811,667     $ 1,645,384       682,051     $ 439,599  
                                 
Stock Grants:                                
Employees (Common Stock)     188,138       589,951       158,867       490,880  
Employees (Series A Preferred Stock)     4       8       -       -  
Employees (Series B Preferred Stock)     -       -       40,000       1,035,406  
Directors (Common Stock)     49,500       99,991       81,061       221,973  
Non–Employee Consultants (Common Stock)     49,982       133,587       325,772       1,036,427  
                                 
Total Stock–Based Compensation Expense           $ 2,468,921             $ 3,224,285