Stock based compensation, options and warrants (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| Schedule of Stock-Based Compensation |
The Company recognized total stock-based compensation
expense during the three and nine months ended September 30, 2019 and 2018, granted under the Company’s 2017 equity incentive
plan (the “Plan”), from the following categories:
| |
|
Three
Months Ended September 30, |
|
Nine
Months Ended September 30, |
| |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
| Restricted stock awards under the Plan |
|
$ |
81,362 |
|
|
$ |
1,434,650 |
|
|
$ |
372,932 |
|
|
$ |
3,634,193 |
|
| Stock option awards under the Plan |
|
|
— |
|
|
|
220,510 |
|
|
|
58,498 |
|
|
|
512,997 |
|
| Total stock-based
compensation |
|
$ |
81,362 |
|
|
$ |
1,655,160 |
|
|
$ |
431,430 |
|
|
$ |
4,147,190 |
|
|
| Summary of Restricted Plan Activity |
A summary of the Company’s unvested restricted
stock rights activity in the nine months ended September 30, 2019 is presented here:
| |
|
Number
of Shares |
|
Weighted
Average Grant-Date
Fair Value |
| |
Unvested
at January 1, 2019 |
|
|
|
95,939 |
|
|
$ |
12.49 |
|
| |
Vested |
|
|
|
(50,522 |
) |
|
$ |
8.23 |
|
| |
Granted |
|
|
|
48,500 |
|
|
$ |
3.78 |
|
| |
Forfeited |
|
|
|
(55,000 |
) |
|
$ |
14.95 |
|
| |
Unvested
at September 30, 2019 |
|
|
|
38,917 |
|
|
$ |
3.68 |
|
|
| Summary of Stock Incentive Plan Activity |
A summary of activity under the Plan for the nine months ended September
30, 2019 is presented below:
| |
|
Shares
Underlying Options |
|
Weighted
Average Exercise Price |
|
Weighted
Average Remaining Contractual
Term (Years) |
|
Aggregate
Intrinsic Value |
| |
Outstanding
at January 1, 2019 |
|
|
|
62,000 |
|
|
$ |
15.71 |
|
|
|
8.2 |
|
|
$ |
— |
|
| |
Forfeited |
|
|
|
(50,000 |
) |
|
$ |
18.50 |
|
|
|
— |
|
|
|
— |
|
| |
Outstanding
at September 30, 2019 |
|
|
|
12,000 |
|
|
$ |
4.09 |
|
|
|
4.0 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Exercisable
at September 30, 2019 |
|
|
|
12,000 |
|
|
$ |
4.09 |
|
|
|
4.0 |
|
|
$ |
— |
|
|
| Schedule of Changes in Outstanding Warrants |
Following is a summary of outstanding warrants
that were issued outside of the Plan for the nine months ended September 30, 2019:
| |
|
Shares
Underlying Options/Warrants |
|
Weighted
Average Exercise Price |
|
Weighted
Average Remaining Contractual
Term (Years) |
|
Aggregate
Intrinsic Value |
| |
Outstanding
at January 1, 2019 |
|
|
|
1,671,113 |
|
|
$ |
39.47 |
|
|
|
2.0 |
|
|
$ |
— |
|
| |
Granted |
|
|
|
1,908,144 |
|
|
$ |
1.94 |
|
|
|
5.2 |
|
|
$ |
— |
|
| |
Forfeited |
|
|
|
(5,000 |
) |
|
$ |
7.90 |
|
|
|
— |
|
|
$ |
— |
|
| |
Outstanding
at September 30, 2019 |
|
|
|
3,574,257 |
|
|
$ |
19.48 |
|
|
|
3.1 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Exercisable
at September 30, 2019 |
|
|
|
3,574,257 |
|
|
$ |
19.48 |
|
|
|
3.1 |
|
|
$ |
— |
|
|