Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the years ended December 31, 2021 and 2020:

 

                  Weighted        
                  Average        
            Weighted     Remaining     Aggregate  
            Average     Contractual     Intrinsic  
      Number of     Exercise     Life     Value  
      Options     Price     (in Years)     (in thousands)  
Outstanding - January 1, 2021       66,126     $ 5.24       8.3     $ 10.8  
Granted       30,000       2.10                  
Exercised       -       -                  
Forfeited       (30,000 )     3.69                  
Outstanding - December 31, 2021       66,126     $ 4.52       7.8     $ -  
                                   
Exercisable at December 31, 2021       36,126     $ 6.53       6.3     $ -  

 

                  Weighted        
                  Average        
            Weighted     Remaining     Aggregate  
            Average     Contractual     Intrinsic  
      Number of     Exercise     Life     Value  
      Options     Price     (in Years)     (in thousands)  
Outstanding - January 1, 2020       295,793     $ 8.88       7.5     $ -  
Granted       30,000       3.69                  
Exercised       -       -                  
Forfeited       (259,667 )     9.21                  
Outstanding - December 31, 2020       66,126     $ 5.24       8.3     $ 10.8  
                                   
Exercisable at December 31, 2020       26,126     $ 8.18       7.0     $ 7.2  
Schedule of Fair Value Measurement Assumptions

The following assumptions were utilized in the Black-Scholes option pricing for the stock option grants for the years ended December 31, 2021 and 2020:

 

    2021     2020  
    Year Ended December 31,  
    2021     2020  
Expected dividend yield     -       -  
Risk-free interest rate     0.33 %     0.33 %
Expected volatility     122.69 %     111.55 %
Expected term (in years)     3.00       5.75  
Grant-date fair value of stock options awarded   $ 1.09     $ 3.03  
Schedule of Restricted Stock Award Activity

A summary of restricted stock activity for the years ended December 31, 2021 and 2020 is as follows:

 

    Number of  
    Shares  
Outstanding - January 1, 2020     27,319  
Granted     333,875  
Forfeited     -  
Vested     (127,319 )
Outstanding - December 31, 2020     233,875  
Granted     108,525  
Forfeited     -  
Vested     (182,875 )
Outstanding - December 31, 2021     159,525