Equity (Tables)

9 Months Ended

Sep. 30, 2019

Stock Option Activity

The following table summarizes the Company’s stock option activity during this period:

		Weighted		Weighted Average
	Number of	Average		Remaining		Aggregate
	Options	Exercise Price		Contractual Life		Intrinsic Value
Outstanding at December 31, 2018	5,426,165	$	1.99	4.89	$	—
Granted	2,052,500	$	0.58
Exercised	—	$	—
Forfeited	—	$	—
Expired and/or Cancelled	(1,565,000)	$	2.60
Outstanding at September 30, 2019	5,913,665	$	1.34	5.51	$	42,603
Exercisable at September 30, 2019	5,451,163	$	1.41	5.21	$	26,108

Summary of Stock Options Outstanding and Exercisable

Stock options outstanding at September 30, 2019 are summarized in the table below:

	Number of	Weighted		Weighted Average
	Options	Average		Remaining
Range of Exercise Prices	Outstanding	Exercise Price		Contractual Lives
$0.40 - $2.00	4,885,923	$	0.75	6.14
$2.01 - $5.00	840,000	$	3.28	2.18
$5.01 - $8.62	187,742	$	7.97	4.10
	5,913,665	$	1.34	5.51

Assumptions Used in Computing Fair Value of All Options Granted

The Company computed the fair value of options granted and modified during the period ended September 30, 2019, using the following assumptions:

Expected volatility	130.05 % - 186.92	%
Risk free interest rate	1.42% - 2.38	%
Expected term (years)	1.00 - 5.00
Dividend yield	0.0	%

Summary of Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Research and development expenses
Stock-based compensation	$	46,000	$	20,000	$	77,000	$	73,000
General and administrative expenses
Issuance of common stock for services		—		—		60,000		60,000
Stock-based compensation		209,000		75,000		278,000		214,000
Total stock-based compensation	$	255,000	$	95,000	$	415,000	$	347,000
Unrecognized expense at September 30, 2019	$	44,000
Weighted average remaining years to vest		0.66

2010 Stock Plan

Stock Option Activity

The following table summarizes the activity of the 2010 Plan and the available options to be granted as of September 30, 2019:

	2010 Plan
Total shares reserved for equity awards		11,700,000
Options granted		(14,429,757)
Add back: expired, forfeited and/or cancelled equity awards		6,264,655
Add back: options used in net exercise		192,385
Remaining shares available for future equity awards		3,727,283