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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Stock-Based Compensation [Abstract]  
Stock Option Activity

The following table summarizes stock option activity for the years ended December 31, 2021 and 2020:

 
 
Number
of
Shares
under
Option
Plan
   
Weighted-
Average
Exercise
Price per
Option
   
Weighted-
Average
Remaining
Contractual
Life (in
years)
 
Outstanding at January 1, 2020
   
4,908,038
   
$
1.90
       
Granted
   
400,000
     
1.46
       
Exercised
   
(15,000
)
   
1.29
       
Forfeited and expired
   
(150
)
   
170.00
       
Outstanding at January 1, 2021
   
5,292,888
   
$
1.87
     
7.69
 
Granted
   
2,463,714
     
1.70
         
Exercised
   
(1,557,628
)
   
1.12
         
Forfeited and expired
   
(2,260,361
)
   
2.10
         
Outstanding at December 31, 2021
   
3,938,613
   
$
1.90
     
7.91
 
Exercisable at December 31, 2021
   
1,216,564
   
$
2.32
     
4.86
 
Weighted Average Assumption Used for Grant Date Fair Value of Option Grants

For the years ended December 31, 2021 and 2020, the grant date fair value of all option grants was estimated at the time of grant using the Black-Scholes option-pricing model using the following weighted average assumptions:
 
 
 
Year Ended
December 31,
 
 
 
2021
   
2020
 
Expected term (in years)
   
5.96
     
6.00
 
Expected volatility
   
90.03
%
   
94.00
%
Risk-free rate
   
1.08
%
   
0.53
%
Dividend rate
   
0.00
%
   
0.00
%
Summary of Restricted Stock Unit Unvested

Restricted stock units have been issued to certain board members. Restricted stock units unvested are summarized in the following table:

 
 
Number
of
Units
   
Weighted-
Average
Grant
Date Fair
Value
 
Outstanding at January 1, 2020
   
77,237
   
$
2.46
 
Granted
   
     
 
Vested
   
(68,091
)
   
2.46
 
Forfeited and expired
   
(9,146
)
   
2.46
 
Unvested at January 1, 2021
   
   
$
 
Granted
   
290,861
     
1.44
 
Vested
   
(146,364
)
   
1.42
 
Forfeited and expired
   
(53,957
)
   
1.45
 
Unvested at December 31, 2021
   
90,540
   
$
1.45