Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.20.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Values of Stock Options Granted, Estimated Using Black-Scholes Option Valuation Model Assumptions
The fair values of stock options granted for the years were estimated using the following assumptions:
 
Option Grants Awarded During the Year Ended December 31, 2019
 
Option Grants Awarded During the Year Ended December 31, 2018
Stock Price
$1.52 - $3.26
 
$1.80 - $5.96
Dividend Yield
0%
 
0%
Expected Volatility
70.0%
 
70.0%
Risk-free interest rate
1.47% - 2.62%
 
2.50% - 3.09%
Expected Term
7 years
 
7 years
Summary of Stock Option Activity
The following is a summary of our stock option activity during the year ended December 31, 2018:
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Life In
Years
Outstanding, January 1, 2018
1,082,490

 
$
4.87

 
$
3.00

 
8.38

Granted
252,500

 
4.54

 
3.09

 
9.16

Exercised
(4,692
)
 
2.10

 
1.75

 

Canceled/Forfeited
(75,018
)
 
4.72

 
2.89

 

Outstanding, December 31, 2018
1,255,280

 
$
4.82

 
$
3.03

 
7.75


 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Life In
Years
Exercisable, January 1, 2018
704,303

 
$
5.08

 
$
3.17

 
8.15

Vested
161,404

 
4.69

 
2.89

 
7.56

Exercised
(4,692
)
 
2.10

 
1.75

 

Canceled/Forfeited
(17,996
)
 
4.72

 
2.84

 

Exercisable, December 31, 2018
843,019

 
$
5.02

 
$
3.13

 
7.23


The following is a summary of our stock option activity during the year ended December 31, 2019:
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Life In
Years
Outstanding, January 1, 2019
1,255,280

 
$
4.82

 
$
3.03

 
7.75

Granted
154,500

 
2.61

 
1.76

 
9.44

Exercised

 

 

 

Canceled/Forfeited
(69,528
)
 
4.72

 
3.03

 

Outstanding, December 31, 2019
1,340,252

 
$
4.57

 
$
2.88

 
6.95


 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Life In
Years
Exercisable, January 1, 2019
843,019

 
$
5.02

 
$
3.13

 
7.23

Vested
178,732

 
3.98

 
2.52

 
7.05

Exercised

 

 

 

Canceled/Forfeited
(32,659
)
 
4.55

 
2.81

 

Exercisable, December 31, 2019
989,092

 
$
4.85

 
$
3.03

 
6.37

Schedule of Information Related To Stock Options Outstanding and Exercisable
The following table presents information related to stock options outstanding and exercisable at December 31, 2019:
Options Outstanding
 
Options Exercisable
Exercise
Price
 
Outstanding
Number of
Options
 
Weighted
Average
Remaining
Life In
Years
 
Exercisable
Number
of Options
$1.52 - $3.15
 
310,683

 
6.52
 
158,650

$3.25 - $4.92
 
596,203

 
7.49
 
444,371

$5.01 - $6.00
 
273,066

 
4.93
 
240,755

$6.18 – $7.20
 
70,000

 
5.22
 
60,008

$7.54 – $7.80
 
67,800

 
5.21
 
62,808

$8.06 - $12.98
 
22,500

 
5.05
 
22,500

 
 
1,340,252

 
6.37
 
989,092

Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of restricted stock unit activity for the year ended December 31, 2018 is as follows:
 
Number of
Restricted Share
Units
 
Weighted-Average
Grant-Date Fair
Value Per Share
Outstanding at January 1, 2018
1,476,858

 
$
4.96

Granted
1,661,750

 
4.60

Vested
(1,051,939
)
 
4.68

Forfeited
(165,075
)
 
5.17

Outstanding at December 31, 2018
1,921,594

 
$
4.78


A summary of restricted stock unit activity for the year ended December 31, 2019 is as follows:
 
Number of
Restricted Share
Units
 
Weighted-Average
Grant-Date Fair
Value Per Share
Outstanding at January 1, 2019
1,921,594

 
$
4.78

Granted
2,115,177

 
2.78

Vested
(1,317,586
)
 
3.92

Forfeited
(163,181
)
 
4.19

Outstanding at December 31, 2019
2,556,004

 
$
3.38

Schedule of Stock-Based Compensation
Total stock-based compensation recorded in the consolidated statements of comprehensive loss is allocated as follows: 
 
Year Ended
December 31, 2019
 
Year Ended
December 31, 2018
 
 

 
 
Research and development
2,823,000

 
2,556,000

Sales, marketing and administration
2,983,000

 
2,706,000

Total stock-based compensation
$
5,806,000

 
$
5,262,000