STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2020

The fair values of stock options granted for the periods were estimated using the following assumptions:



	Stock Option Grants Awarded During the Three Months Ended March 31, 2020	Stock Option Grants Awarded During the Three Months Ended March 31, 2019
Stock Price	$1.74	$1.52 to $2.98
Dividend Yield	0.00%	0.00%
Expected Volatility	70%	70%
Risk-free interest rate	1.52%	2.52% - 2.62%
Expected Life	7 years	7 years

The following is a summary of our stock option activity during the three months ended March 31, 2020:



	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years
Outstanding, January 1, 2020	1,340,252		$	4.57	$	2.88	6.95
Granted	10,000		1.74		1.16		9.87
Exercised	—		—		—		—
Canceled / Forfeited	(133,487	)	4.29		2.84		—
Outstanding, March 31, 2020	1,216,765		$	4.57	$	2.87	6.09



	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years
Exercisable, January 1, 2020	989,092		$	4.85	$	3.03	6.37
Vested	49,618		3.49		2.22		5.04
Exercised	—		—		—		—
Canceled / Forfeited	(27,316	)	5.69		3.69		—
Exercisable, March 31, 2020	1,011,394		$	4.76	$	2.97	5.60

The following table presents information related to stock options outstanding and exercisable at March 31, 2020:



Options Outstanding		Options Exercisable
Exercise Price	Outstanding Number of Options	Weighted Average Remaining Life In Years	Exercisable Number of Options
$1.52 – $3.15	280,435	5.71	182,476
$3.25 – $4.92	538,780	6.20	462,564
$5.01 – $6.00	237,250	4.67	219,161
$6.18 – $7.20	70,000	5.02	61,259
$7.54 – $7.80	67,800	4.99	63,434
$8.06 – $12.98	22,500	4.80	22,500
	1,216,765	5.60	1,011,394

A summary of restricted stock unit activity for the three months ended March 31, 2020 is as follows:



	Number of Restricted Share Units		Weighted- Average Grant-Date Fair Value Per Share
Outstanding at January 1, 2020	2,556,004		$	3.38
Granted	1,824,965		1.69
Vested	(378,051	)	2.32
Forfeited	(240,954	)	2.45
Outstanding at March 31, 2020	3,761,964		$	2.72

Total stock-based compensation recorded in the condensed consolidated statements of comprehensive loss is allocated as follows:



	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Research and development	$	648,000	$	633,000
Sales, marketing and administration	731,000		721,000
Total stock-based compensation	$	1,379,000	$	1,354,000