Stock Options (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of stock option activity

The following table summarizes stock option activity for the three months ended March 31, 2021:

	Number of Options			Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value ($)
Outstanding at December 31, 2020		5,895,570			3.41		5.68		1,460,507
Forfeited		(2,730,571	)		2.75
Outstanding at March 31, 2021		3,164,999			2.18		5.22		2,350,775
Vested and exercisable at March 31, 2021		1,352,499			1.98		5.17		1,251,775

Summary of assumption of stock option activity

The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 is set forth in the table below:

	Three Months Ended
	March 31, 2020
Risk-free interest rate		1.67	%
Expected term in years		4.27
Weighted Avg. Expected Volatility		107.73	%
Expected dividend yield		0	%

Summary of consolidated statement of operations

The following table sets forth the share-based compensation cost resulting from stock option grants, including those previously granted and vesting over time, that were recorded in the Company’s Statements of Operations for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021			2020
Research and development	$	278,815		$	-
General and administrative		(1,153,575	)		465,763
Total	$	(874,760	)	$	465,763