| Schedule of Options Activity |
The Company
has no expired employee stock options under the 2016 Plan at June 30, 2020 and 2019.
| |
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
| |
|
|
|
|
|
Weighted |
|
|
Average |
|
|
|
|
| |
|
|
|
|
|
Average |
|
|
Remaining |
|
|
Aggregate |
|
| |
|
|
|
|
|
Exercise |
|
|
Contractual |
|
|
Intrinsic |
|
| |
|
|
Shares |
|
|
Price |
|
|
Term
(Years) |
|
|
Value |
|
| Outstanding at December 31, 2018 |
|
|
|
160,143 |
|
|
$ |
14.00 |
|
|
|
4.4 |
|
|
|
— |
|
| Granted |
|
|
|
8,572 |
|
|
$ |
14.00 |
|
|
|
5.0 |
|
|
|
— |
|
| Forfeited |
|
|
|
(14,286 |
) |
|
$ |
14.00 |
|
|
|
— |
|
|
|
— |
|
| Outstanding at June 30, 2019 |
|
|
|
154,429 |
|
|
$ |
14.00 |
|
|
|
3.4 |
|
|
|
— |
|
| Exercisable at June 30, 2019 |
|
|
|
145,857 |
|
|
$ |
14.00 |
|
|
|
3.4 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2019 |
|
|
|
163,010 |
|
|
$ |
14.00 |
|
|
|
3.4 |
|
|
|
— |
|
| Granted |
|
|
|
310,290 |
|
|
$ |
5.39 |
|
|
|
4.8 |
|
|
|
— |
|
| Cancelled/forfeited |
|
|
|
(161,402 |
) |
|
$ |
14.00 |
|
|
|
— |
|
|
|
— |
|
| Outstanding at June 30, 2020 |
|
|
|
311,898 |
|
|
$ |
5.46 |
|
|
|
4.7 |
|
|
|
— |
|
| Exercisable at June 30,
2020 |
|
|
|
162,474 |
|
|
$ |
6.08 |
|
|
|
4.7 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 Companys 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
|
|
|
|
|
|