Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.20.2
Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2020 and 2019:

 

          Weighted  
          Average  
    Number of     Exercise  
    Options     Price  
Outstanding - January 1, 2020     295,793     $ 8.88  
Granted     30,000       3.69  
Exercised     -       -  
Forfeited     (259,667 )     9.21  
Outstanding - September 30, 2020     66,126     $ 5.24  
                 
Exercisable at September 30, 2020     26,126     $ 8.18  

 

          Weighted  
          Average  
    Number of     Exercise  
    Options     Price  
Outstanding - January 1, 2019     499,439     $ 6.94  
Granted     30,000       2.23  
Exercised     -       -  
Forfeited     (210,313 )     3.98  
Outstanding - September 30, 2019     319,126     $ 8.44  
                 
Exercisable at September 30, 2019     275,792     $ 9.37  

Schedule of Fair Value Measurement Assumptions

The fair value of stock options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of share options were estimated using the following assumptions:

 

    Nine Months Ended  
    September 30, 2020  
Expected dividend yield     -  
Risk-free interest rate     0.33 %
Expected volatility     111.55 %
Expected term (in years)     5.75  
Grant-date fair value of stock options awarded   $ 3.03  

Schedule of Restricted Stock Award Activity

As of September 30, 2020 and 2019, the following is a summary of restricted stock activity:

 

    Number of  
    Shares  
Outstanding - January 1, 2020     27,319  
Granted     306,775  
Forfeited     -  
Vested     (127,319 )
Outstanding - September 30, 2020     206,775  

 

    Number of  
    Shares  
Outstanding - January 1, 2019     60,651  
Granted     47,568  
Forfeited     (13,865 )
Vested     (39,914 )
Outstanding - September 30, 2019     54,440