XML 26 R16.htm IDEA: XBRL DOCUMENT v3.22.2
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

A summary of stock option activity for the period ended June 30, 2022, 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, 2021   241,128   $32.76    5.43   $9,445 
Granted – 2022   101,166    3.67    4.07    - 
Forfeited/Expired – 2022   -    -    -    - 
Exercised – 2022   -    -    -    - 
Outstanding as of June 30, 2022   342,294   $21.76    4.80   $- 
Schedule of Outstanding Stock Options

As of June 30, 2022, the Company had outstanding stock options as follows:

  

Date Issued  Exercise Price   Number of
Options		   Expiration date
August 2015  $39.75    41,624   December 27, 2025
September 2015  $39.75    8,000   December 27, 2025
November 2015  $39.75    48,986   December 27, 2025
December 2015  $39.75    2,228   December 27, 2025
January 2016  $39.75    51,032   January 9, 2026
May 2016  $51.25    10,766   May 26, 2026
September 2016  $51.25    3,973   May 31, 2026
January 2017  $51.25    2,142   January 1, 2027
January 2018  $49.25    1,566   January 1, 2028
January 2019  $2.35    21,964   January 1, 2029
October 2021  $5.25    48,847   October 26, 2031
January 2022  $3.52    26,166   January 1, 2032
January 2022  $3.72    50,000   January 1, 2024
January 2022  $3.72    25,000   January 3, 2024
              
Total outstanding options at June 30, 2022        342,294    
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 June 30, 2022 and 2021 are as follows:

  

    June 30, 2022        June 30, 2021   
Risk free interest rate   0.39% - 1.279%   -%
Expected life (in years)   1.00 - 5.37    - 
Expected Volatility   96.24% - 112.54%   -%
Expected dividend yield   -%   -%
Schedule of Stock Options Non-vested

A summary of the changes in the Company’s non-vested options during the six month period ended June 30, 2022, is as follows:

 

   Number of Non-
vested Options		   Weighted Average
Fair Value at
Grant Date		 
Non-vested at December 31, 2021   -   $- 
Granted in 2022   101,166   $1.77 
Forfeited in 2022   -   $- 
Vested in 2022   (101,166)  $1.77 
Non-vested at June 30, 2022   -   $- 
Exercisable at June 30, 2022   342,294   $21.81 
Outstanding at June 30, 2022   342,294   $21.81