Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of stock option activity for the period ended March 31, 2019, is presented below:

	Number of		Weighted Average Exercise		Weighted Average		Aggregate Intrinsic
Subject to Exercise	Options		Price		Life (Years)		Value
Outstanding as of December 31, 2018		843,648	$	16.43		6.56	$	-
Granted – 2019		54,909	$	0.94		10.00		-
Forfeited – 2019		-		-		-		-
Exercised – 2019		-		-		-		-
Outstanding as of March 31, 2019		898,557	$	15.48		6.53	$	-

Schedule of Outstanding Stock Options

As of March 31, 2019, the Company had outstanding stock options as follows:

Date Issued	Exercise Price		Number of Options		Expiration date
September 2014	$	15.90		58,307	December 27, 2025
November 2014	$	15.90		17,492	December 27, 2025
August 2015	$	15.90		312,180	December 27, 2025
September 2015	$	15.90		20,000	December 27, 2025
November 2015	$	15.90		122,464	December 27, 2025
December 2015	$	15.90		80,275	December 27, 2025
January 2016	$	15.90		127,581	January 9, 2026
March 2016	$	20.50		5,400	February 24, 2021
May 2016	$	20.50		80,744	May 26, 2026
September 2016	$	20.50		9,933	May 31, 2026
January 2017	$	20.50		5,356	January 1, 2027
January 2018	$	19.70		3,916	January 1, 2028
January 2019	$	0.94		54,909	January 1, 2029
Total outstanding options at March 31, 2019				898,557

Schedule of Assumptions Using Black-Scholes Option Pricing Model

The Company utilized the Black-Scholes option pricing model. The assumptions used for the periods ended March 31, 2019 and 2018 are as follows:

	March 31, 2019			March 31, 2018
Risk free interest rate		2.554	%		2.302%-2.659	%
Expected life (in years)		6.24			6.24-7.75
Expected Volatility		169.87	%		169.33%-179.79	%
Expected dividend yield		0	%		0	%

Schedule of Non-vested Options

A summary of the changes in the Company’s non-vested options during the period ended March 31, 2019, is as follows:

	Number of Non-vested Options		Weighted Average Fair Value at Grant Date
Non-vested at December 31, 2018		117,464	$	14.61
Granted in 2019		54,909	$	0.91
Forfeited – 2019		-	$	-
Vested in 2019		13,727	$	0.91
Non-vested at March 31, 2019		158,646	$	12.33
Exercisable at March 31, 2019		739,911	$	14.08
Outstanding at March 31, 2019		898,557	$	13.77