STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of weighted average assumptions

During the three months ended March 31, 2018, the Company estimated the fair value of stock options granted using the Black-Scholes option pricing model with the following weighted average assumptions:

	Three Months Ended
	March 31, 2018
Weighted average risk-free interest rate		2.41% — 2.43%
Weighted average life (in years)		5.0
Volatility		124.7%
Expected dividend yield		0%
Weighted average grant-date fair value per share of options granted	$	38.20

Schedule of exercise price

The options outstanding as of March 31, 2019, have been classified by exercise price, as follows:

Outstanding				Exercisable
		Weighted
		Average	Weighted		Weighted
		Remaining	Average		Average
Exercise	Number	Contractual	Exercise	Number	Exercise
Price	Outstanding	Life (Years)	Price	Exercisable	Price
$12.00 - $14.00	149,000	7.27	$13.44	96,751	$13.31
$26.40 - $27.60	8,500	8.28	$27.46	3,500	$27.26
$30.20 - $33.80	2,875	3.33	$32.67	2,875	$32.67
$12.00 - $33.80	160,375	7.25	$14.53	103,126	$14.32

Issuances outside of Plans
$16.00 - $46.40	199,875	7.15	$26.09	47,121	$28.87
Total Options
$12.00 - 46.40	360,250	7.20	$20.94	150,247	$18.88

Schedule of stock-based compensation expense

The total stock-based compensation expense related to stock options and stock awards issued pursuant to the Plans to the Company’s employees, consultants and directors, included in reported net loss for the three months ended March 31, 2019 and 2018, is comprised as follows:

	Three Months Ended
	March 31, 2019		March 31, 2018
Cost of revenues	$	-	$	4,874
Engineering and product development		-		13,650
Selling and marketing		-		11,922
General and administrative		162,326		664,165
Stock-based compensation from Plans	$	162,326	$	694,611
Stock-based compensation from issuances outside of Plans		458,962		743,603
Total Stock-based compensation	$	621,288	$	1,438,214

Schedule of option activity under the company's stock option plans

A summary of option activity under the Company's stock option plans as of March 31, 2019, and changes during the three months ended are as follows:

		Outstanding Options
				Weighted
			Weighted	Average
	Shares		Average	Remaining	Aggregate
	Available	Number	Exercise	Contractual	Intrinsic
	for Grant	of Shares	Price	Life (years)	Value
January 1, 2019	507,789	173,125	$14.41	7.52	$0
Forfeited	12,750	(12,750)	$12.89
March 31, 2019	520,539	160,375	$14.53	7.25	$0