STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Disclosure Stockbased Compensation Tables Abstract |
|
| Equity incentive plan |
The
following table contains information about both plans as of December 31, 2018:
| |
|
Awards
Reserved for Issuance |
|
|
Awards
Issued |
|
|
Awards
Available for Grant |
|
| |
|
|
|
|
|
|
|
|
|
| 2016
Equity Incentive Plan |
|
|
2,000,000 |
|
|
|
1,541,064 |
|
|
|
458,936 |
|
| 2018 Equity Incentive
Plan |
|
|
6,600,000 |
|
|
|
5,100,000 |
|
|
|
1,500,000 |
|
|
| Stock option activity |
The
following table summarizes the Company’s stock option activity and related information for the year ended December 31, 2018
and 2017:
| |
|
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 January 1, 2017 |
|
|
446,667 |
|
|
$ |
1.35 |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options
Granted |
|
|
731,065 |
|
|
$ |
2.68 |
|
|
|
|
|
|
| Options
Exercised |
|
|
- |
|
|
$ |
- |
|
|
|
|
|
|
| Options
Forfeited |
|
|
- |
|
|
$ |
- |
|
|
|
|
|
|
| Options
Expired |
|
|
- |
|
|
$ |
- |
|
|
|
|
|
|
| Options
Outstanding as of December 31, 2017 |
|
|
1,177,732 |
|
|
$ |
2.17 |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options
Granted |
|
|
6,911,667 |
|
|
$ |
1.56 |
|
|
|
|
|
|
| Options
Exercised |
|
|
- |
|
|
$ |
- |
|
|
|
|
|
|
| Options
Forfeited |
|
|
(436,668 |
) |
|
$ |
2.36 |
|
|
|
|
|
|
| Options
Expired |
|
|
- |
|
|
$ |
- |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options
Outstanding as of December 31, 2018 |
|
|
7,652,731 |
|
|
$ |
1.61 |
|
|
9.6
years |
|
$ |
- |
|
| Options
Exercisable as of December 31, 2018 |
|
|
1,870,039 |
|
|
$ |
1.92 |
|
|
9.1 years |
|
$ |
- |
|
|
| Weighted-average assumptions stock-based compensation |
The following weighted-average assumptions
were used to calculate stock-based compensation:
| |
|
Year Ended
December 31,
|
|
| |
|
2018 |
|
|
2017 |
|
| Expected term (years) |
|
6 Years |
|
|
5 Years |
|
| Volatility |
|
113.2-128.0 |
% |
|
117.3-120.9 |
% |
| Risk-Free Interest Rate |
|
2.5-2.9 |
% |
|
2.0-2.4 |
% |
| Dividend Yield |
|
|
0 |
% |
|
|
0 |
% |
|
| Stock-based compensation expense |
The following table sets forth the total stock-based
compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee
consultants in the consolidated statement of operations which are included in selling, general and administrative expenses:
| |
|
For the Year Ended |
|
| |
|
December 31, 2018 |
|
|
December 31, 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 |
|
|
6,911,667 |
|
|
$ |
2,527,982 |
|
|
|
731,065 |
|
|
$ |
692,971 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Stock Grants: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Employees (Common Stock) |
|
|
201,296 |
|
|
|
603,117 |
|
|
|
158,867 |
|
|
|
490,880 |
|
| Employees (Series B Preferred Stock) |
|
|
0 |
|
|
|
0 |
|
|
|
40,000 |
|
|
|
1,035,406 |
|
| Directors (Common Stock) |
|
|
49,500 |
|
|
|
99,990 |
|
|
|
81,061 |
|
|
|
221,973 |
|
| Non–Employee Consultants (Common Stock) |
|
|
132,971 |
|
|
|
225,428 |
|
|
|
389,374 |
|
|
|
1,284,562 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Stock–Based Compensation Expense |
|
|
|
|
|
$ |
3,456,517 |
|
|
|
|
|
|
$ |
3,725,792 |
|
|