XML 16 R28.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Range of warrant prices per share for shares under warrants and the weighted average contractual life

At March 31, 2020 and December 31, 2019, the weighted average warrant exercise price per share for common stock underlying warrants and the weighted average contractual life was as follows:



	Number of Warrants	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Number of Warrants Exercisable	Weighted Average Price Per Share

Outstanding December 31, 2019	28,926	$	9.80	3.66	28,926	$	9.80
Outstanding March 31, 2020	28,926	$	9.80	3.41	28,926	$	9.80

Schedule of activity under all stock option plans

Activity under all stock option plans was as follows:



	Number of Options		Weighted Average Exercise Price per Share		Aggregate Intrinsic Value (in Thousands)
Outstanding December 31, 2019	1,802,463		$	6.75
Granted	191,667		0.98
Expired	(317,992	)	8.19
Outstanding March 31, 2020	1,676,138		$	5.81	$	—
Total vested and exercisable	1,266,859		$	6.72	$	—

Schedule of restricted stock award activity under the plan

Restricted common stock award activity under the plan was as follows:



	Number of Shares		Weighted Average Fair Value
Unvested December 31, 2019	4,436,928		$	1.54
Granted	225,000		1.39
Vested	(593,644	)	0.69
Forfeited	(146,676	)	1.30
Unvested March 31, 2020	3,921,608		$	1.67

Assumptions used to estimate the fair value of options at date of grant

The fair value of options at date of grant was estimated using the Black-Scholes option pricing model, based on the following assumptions:



	Three Months Ended March 31,
	2020	2019
Risk-free interest rate	1.49% - 1.63%	N/A
Expected term (in years)	6.25	N/A
Dividend yield	—%	N/A
Expected volatility	55.92%	N/A

Summary of stock-based compensation

The following is a summary of stock-based compensation expense (in thousands):



	Three Months Ended March 31,
	2020		2019
Cost of revenues	$	11	$	166
Sales and marketing	112		81
Research and development	134		257
General and administrative	509		644
	$	766	$	1,148

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details