STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2019

Stockholders' equity:

Stock option activity

			Weighted Average
	Options on				Remaining		Aggregate
	Common		Exercise		Contractual		Intrinsic
	Shares		Price		Term		Value
Outstanding January 1, 2019		2,067,500	$	1.68		4.44	$	3,063,375
Granted		1,000,000		5.41		5.00		-
Exercised		-		-		-		-
Forfeited, cancelled, expired		-		-		-		-
Outstanding March 31, 2019		3,067,500	$	2.90		4.45	$	12,887,800
Vested and exercisable at March 31, 2019		225,000	$	1.50		4.15	$	1,260,000

Stock-based compensation

	For the Three Months
	Ended March 31,
	2019		2018
Selling, general and administrative	$	203,200	$	-
Research and development		23,847		-
Total stock-based expense	$	227,047	$	-

Assumptions used to compute the fair value of options granted

	Three Months
	Ended
	March 31,
	2019
Expected stock price volatility		49	%
Risk-free interest rate		2.41	%
Forfeiture rate		0	%
Expected dividend yield		0	%
Expected life of options - years		3.50
Weighted-average fair value of options granted	$	2.06

Summary of stock purchase warrants

	Number of		Exercise Price
Description	Common Shares		Per Share		Expiration Date
Purchase Warrants (1)		4,561,074	$	5.00	October 30, 2020
Agent Warrants		456,107	$	3.00	October 30, 2020