Annual report pursuant to Section 13 and 15(d)

COMMON STOCK OPTIONS AND WARRANTS (Tables)

v3.20.1
COMMON STOCK OPTIONS AND WARRANTS (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Options Activity


 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Shares

 

 

Price

 

 

Term (Years)

 

 

Value

 

Outstanding at December 31, 2017

 

 

—

 

 

$

—

 

 

 

—

 

 

 

—

 

Granted

 

 

160,152

 

 

$

14.00

 

 

 

5.0

 

 

 

—

 

Outstanding at December 31, 2018

 

 

160,152

 

 

$

14.00

 

 

 

4.3

 

 

 

—

 

Exercisable at December 31, 2018

 

 

145,858

 

 

$

14.00

 

 

 

4.3

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

160,152

 

 

$

14.00

 

 

 

4.3

 

 

 

—

 

Granted

 

 

17,144

 

 

$

14.00

 

 

 

5.0

 

 

 

—

 

Forfeited

 

 

(14,286

)

 

$

14.00

 

 

 

—

 

 

 

—

 

Outstanding at December 31, 2019

 

 

163,010

 

 

$

14.00

 

 

 

3.4

 

 

 

—

 

Exercisable at December 31, 2019

 

 

154,438

 

 

$

14.00

 

 

 

3.4

 

 

 

—

 

Schedule of Fair Value Assumptions

The fair value of the incentive stock option grants for the year ended December 31, 2019 were estimated using the following weighted- average assumptions:


 

 

For the Years Ended
December 31,

 

 

2019

 

2018

Risk free interest rate

 

1.40% - 2.44%

 

2.59%

Expected term in years

 

2.76 – 3.25

 

2.5 – 2.76

Dividend yield

 

—

 

—

Volatility of common stock

 

117.18% - 151.43%

 

197.13% - 207.27%

Estimated annual forfeitures

 

—

 

—

Schedule of Warrants Outstanding

During the fourth quarter of 2018, the Board approved the issuance of warrants to purchase 35,444 shares of the Company’s Common Stock to six shareholders.


 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Warrants

 

 

Price

 

 

Term (Years)

 

 

Value

 

Outstanding at December 31, 2017

 

 

1,801,166

 

 

$

9.10

 

 

 

4.9

 

 

 

—

 

Warrants expired, forfeited, cancelled or exercised

 

 

(21,429

)

 

 

 

 

 

 

 

 

 

 

 

 

Warrants issued

 

 

35,444

 

 

$

9.10

 

 

 

4.9

 

 

 

—

 

Outstanding at December 31, 2018

 

 

1,815,181

 

 

$

9.52

 

 

 

3.9

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

1,815,181

 

 

$

9.52

 

 

 

3.9

 

 

 

—

 

Warrants expired, forfeited, cancelled or exercised

 

 

(338,575

)

 

 

 

 

 

 

 

 

 

 

 

 

Warrants issued

 

 

44,644

 

 

$

7.70

 

 

 

4.9

 

 

 

—

 

Outstanding at December 31, 2019

 

 

1,521,250

 

 

$

8.78

 

 

 

3.9

 

 

 

—

 

Exercisable at December 31, 2019

 

 

1,521,250

 

 

$

8.78

 

 

 

2.8

 

 

 

—