Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.19.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Common Stock Warrants by Exercise Price Range

The Company has a total of 9,030,730 warrants outstanding at a weighted average exercise price of $1.89 to purchase its common stock as of December 31, 2018. These warrants are summarized as follows:


Issuance Date

 

Number of Shares

 

Exercise Price

 

Expiration Date

3/10/2011

 

       1,738

 

$    4.80

 

3/10/2021

3/23/2016

 

   296,159

 

$  10.00

 

3/23/2021

5/7/2018

 

4,132,833

 

$    1.58

 

5/8/2023

11/26/2018

 

4,600,000

 

$    1.65

 

11/26/2023

Common Stock Warrants Outstanding

The following table summarizes the warrant activity of the Company’s common stock warrants:


 

 

Common Stock

Warrants

 

Outstanding, December 31, 2016

 

 

310,397

 

Exercised

 

 

—

 

Expired

 

 

—

 

Outstanding, December 31, 2017

 

 

310,397

 

Issued

 

 

11,787,500

 

Exercised

 

 

3,054,667

 

Expired

 

 

(12,500

)

Outstanding, December 31, 2018

 

 

9,030,730

Schedule of Components of Stock-based Compensation Included in Net Loss

The following table summarizes the components of the Company’s stock-based compensation included in net loss:


 

 

For the years ended

December 31,

 

 

 

2018

 

 

2017

 

Employee stock options

 

$

443,684

 

 

$

474,251

 

Non-employee stock options

 

 

20,420

 

 

 

14,362

 

Employee stock awards

 

 

318,186

 

 

 

169,517

 

Non-employee stock awards

 

 

6,369

 

 

 

31,000

 

 

 

$

788,659

 

 

$

689,130

 

Schedule of Stock Option Valuation Assumptions

The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option pricing model with the following assumptions for stock options granted during the years ended:


 

 

December 31,

 

 

 

2018

 

 

2017

 

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected volatility

 

 

83.63-121.81

%

 

 

76.35-79.08

%

Risk-free interest rate

 

 

2.32-2.98

%

 

 

1.86-2.26

%

Expected term (years)

 

 

5.1-6.3

 

 

 

5.8-7.8

 

Schedule of Stock Option Activity

The following tables summarize the stock option activity for the year ended December 31, 2018:


 

 

Shares

 

 

Weighted

Average

Exercise

Price

 

Outstanding, December 31, 2017

 

 

266,810

 

 

$

19.57

 

Granted

 

 

221,410

 

 

$

3.57

 

Exercised

 

 

—

 

 

$

—

 

Forfeited/Expired

 

 

(22,917

)

 

$

26.97

 

Outstanding, December 31, 2018

 

 

465,303

 

 

$

11.60

 

Schedule of Options Outstanding, Vested and Exercisable

The following table summarizes information about stock options outstanding at December 31, 2018:


Options Outstanding

 

 

 

 

Options Vested and Exercisable

Balance

as of

12/31/2018

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

 

Weighted

Average

Exercise

Price

 

 

 

 

Balance

as of

12/31/2018

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

 

Weighted

Average

Exercise

Price

465,303

 

 

8.17

 

 

$11.60

 

 

 

 

198,957

 

 

7.21

 

 

$20.48