Stock Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| Summary of Fair Values of Stock Options Granted |
The fair values of stock options granted were estimated using the following assumptions:
|
|
|
Three Months Ended
March 31, 2022
|
|
|
|
Stock price
|
|
$
|
1.27
|
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
Expected volatility
|
|
|
108
|
%
|
|
|
Risk-free interest rate
|
|
|
1.92
|
%
|
|
|
Expected life
|
|
5.6 years
|
|
|
|
| Summary of Stock Option Activity |
The following is a summary of the Company’s stock option activity during the three months ended March 31, 2022:
|
|
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life In
Years
|
|
|
Intrinsic
Value
|
|
|
Outstanding at January 1, 2022
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.7
|
|
|
$
|
–
|
|
|
Granted
|
|
|
300,000
|
|
|
|
1.27
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at March 31, 2022
|
|
|
825,006
|
|
|
$
|
4.13
|
|
|
|
3.8
|
|
|
$
|
–
|
|
|
Exercisable at January 1, 2022
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.7
|
|
|
$
|
–
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at March 31, 2022
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.4
|
|
|
$
|
–
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the three months ended March 31, 2022 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2022
|
|
|
1,709,273
|
|
|
$
|
3.72
|
|
|
RSUs granted
|
|
|
293,596
|
|
|
|
1.29
|
|
|
RSUs forfeited
|
|
|
(42,342
|
)
|
|
|
2.45
|
|
|
RSUs vested
|
|
|
(387,823
|
)
|
|
|
5.97
|
|
|
Outstanding at March 31, 2022
|
|
|
1,572,704
|
|
|
$
|
2.75
|
|
|
| Summary of Stock-based Compensation Costs Recognized |
The following tables summarize total stock-based compensation costs recognized for the three months ended March 31, 2022 and 2021:
|
|
|
Three Months Ended March 31,
|
|
|
|
|
2022
|
|
|
2021
|
|
|
Stock options
|
|
$
|
10,313
|
|
|
$
|
–
|
|
|
RSUs
|
|
|
745,620
|
|
|
|
2,088,910
|
|
|
ESPP
|
|
|
40,973
|
|
|
|
57,316
|
|
|
Total
|
|
$
|
796,906
|
|
|
$
|
2,146,226
|
|
|
| Summary of Stock-based Compensation Reflected within Statements of Operations |
Note 6 – Stock-Based Compensation, continued
The total amount of stock-based compensation was reflected within the statements of operations as:
|
|
|
Three Months Ended March 31,
|
|
|
|
|
|
2022
|
|
|
2021
|
|
|
|
Research and development
|
|
$
|
353,043
|
|
|
$
|
1,149,277
|
|
|
|
Sales and marketing
|
|
|
180,377
|
|
|
|
448,947
|
|
|
|
General and administrative
|
|
|
263,486
|
|
|
|
548,002
|
|
|
|
Total
|
|
$
|
796,906
|
|
|
$
|
2,146,226
|
|
|
|
| Employee Stock Purchase Plan [Member] |
|
| Summary of Fair Values of Stock Options Granted |
The fair values of ESPP purchase options granted were estimated using the following assumptions:
|
|
|
Three Months Ended
March 31, 2022
|
|
|
Three Months Ended
March 31, 2021
|
|
|
Stock price
|
|
$
|
1.25
|
|
|
$
|
1.80
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
|
Expected volatility
|
|
|
61
|
%
|
|
|
95
|
%
|
|
Risk-free interest rate
|
|
|
0.19
|
%
|
|
|
0.09
|
%
|
|
Expected life
|
|
6 months
|
|
|
6 months
|
|
|