Stock Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 2022 |
|---|
| Summary of Fair Values of Stock Options Granted |
The fair values of stock options granted were estimated using the following assumptions:
|
|
|
Six Months Ended
June 30, 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 six months ended June 30, 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 June 30, 2022
|
|
|
825,006
|
|
|
$
|
4.13
|
|
|
|
3.5
|
|
|
$
|
–
|
|
|
Exercisable at January 1, 2022
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.7
|
|
|
$
|
–
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at June 30, 2022
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.2
|
|
|
$
|
–
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the six months ended June 30, 2022 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2022
|
|
|
1,709,273
|
|
|
$
|
3.72
|
|
|
RSUs granted
|
|
|
1,217,546
|
|
|
|
1.09
|
|
|
RSUs forfeited
|
|
|
(220,338
|
)
|
|
|
2.31
|
|
|
RSUs vested
|
|
|
(603,569
|
)
|
|
|
5.12
|
|
|
Outstanding at June 30, 2022
|
|
|
2,102,912
|
|
|
$
|
1.94
|
|
|
| Summary of Stock-based Compensation Costs Recognized |
The following tables summarize total stock-based compensation costs recognized for the three and six months ended June 30, 2022 and 2021:
|
|
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
|
|
Stock options
|
|
$
|
21,330
|
|
|
$
|
–
|
|
|
$
|
31,643
|
|
|
$
|
–
|
|
|
RSUs
|
|
|
601,029
|
|
|
|
1,471,826
|
|
|
|
1,346,649
|
|
|
|
3,560,736
|
|
|
PSUs
|
|
|
–
|
|
|
|
2,695,847
|
|
|
|
–
|
|
|
|
2,695,847
|
|
|
ESPP
|
|
|
41,428
|
|
|
|
60,651
|
|
|
|
82,401
|
|
|
|
117,967
|
|
|
Total
|
|
$
|
663,787
|
|
|
$
|
4,228,324
|
|
|
$
|
1,460,693
|
|
|
$
|
6,374,550
|
|
|
| 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 June 30,
|
|
|
Six Months Ended June 30,
|
|
|
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
|
|
Research and development
|
|
$
|
295,481
|
|
|
$
|
2,517,233
|
|
|
$
|
648,524
|
|
|
$
|
3,666,510
|
|
|
Sales and marketing
|
|
|
54,399
|
|
|
|
1,032,414
|
|
|
|
234,776
|
|
|
|
1,481,361
|
|
|
General and administrative
|
|
|
226,245
|
|
|
|
678,677
|
|
|
|
489,731
|
|
|
|
1,226,679
|
|
|
Severance expense
|
|
|
87,662
|
|
|
|
–
|
|
|
|
87,662
|
|
|
|
–
|
|
|
Total
|
|
$
|
663,787
|
|
|
$
|
4,228,324
|
|
|
$
|
1,460,693
|
|
|
$
|
6,374,550
|
|
|
| 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:
|
|
|
Six Months Ended
June 30, 2022
|
|
|
Six Months Ended
June 30, 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
|
|
|