Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.10.0.1
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2018
Stockholders Equity Note [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity under the plans during the nine month period ended September 30, 2018 is as follows:

 

 

 

Stock Options Outstanding

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Life

(in years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at January 1, 2018

 

 

2,379,444

 

 

$

1.00

 

 

 

5.30

 

 

$

15,472,456

 

Granted

 

 

113,000

 

 

$

3.84

 

 

 

 

 

 

 

 

 

Forfeited / Cancelled

 

 

(194,582

)

 

$

0.88

 

 

 

 

 

 

 

 

 

Exercised

 

 

(428,954

)

 

$

0.86

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2018

 

 

1,868,908

 

 

$

1.21

 

 

 

5.56

 

 

$

4,703,975

 

Exercisable at September 30, 2018

 

 

1,509,618

 

 

$

0.92

 

 

 

4.77

 

 

$

4,228,179

 

Vested and expected to vest at September

   30, 2018

 

 

1,858,687

 

 

$

1.20

 

 

 

5.54

 

 

$

4,694,024

 

 

Schedule of Assumption to Calculate Weighted Average Grant Date Fair Value of Options Grant

 

The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company during the nine month periods ended September 30, 2018 and 2017 .

 

 

 

For the Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

5.81 - 5.88

 

 

5.32 - 5.88

 

Expected volatility

 

45.9 - 46.0%

 

 

43.5 - 43.8%

 

Risk-free interest rate

 

2.71 - 2.76%

 

 

1.86 - 2.07%

 

Weighted average grant date fair value per share

 

 

1.80

 

 

$

0.85

 

Grant date fair value of options vested

 

$

1,387,600

 

 

$

1,374,421

 

Intrinsic value of options exercised

 

$

1,512,110

 

 

$

149,256

 

 

Schedule of Restricted Stock Unit Activity

The Company’s restricted stock unit activity for the nine months ended September 30, 2018 is as follows:

 

 

 

Restricted Stock Units

 

 

 

Number of

Shares

 

 

Weighted

Average Grant

Date Fair Value

 

Unvested at January 1, 2018

 

 

-

 

 

$

-

 

Granted

 

 

225,000

 

 

$

930,200

 

Vested

 

 

(38,751

)

 

$

(160,258

)

Cancelled

 

 

(7,500

)

 

$

(31,275

)

Unvested at September 30, 2018

 

 

178,749

 

 

$

738,667

 

 

Summary of Stock-Based Compensation Expense

Stock-based compensation expense for the three and nine month periods ended September 30, 2018 and 2017 was comprised of the following:

 

 

 

For the Three Months Ended

September 30,

 

 

For the Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Stock-based compensation classified as:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

6,595

 

 

$

2,821

 

 

$

13,058

 

 

$

2,821

 

General and administrative

 

 

185,624

 

 

 

27,189

 

 

 

312,065

 

 

 

73,295

 

Marketing and selling

 

 

12,460

 

 

 

6,867

 

 

 

23,275

 

 

 

18,362

 

Research and development

 

 

10,167

 

 

 

6,743

 

 

 

26,582

 

 

 

9,772

 

 

 

$

214,846

 

 

$

43,620

 

 

$

374,979

 

 

$

104,250

 

 

Schedule of Warrant Activity

The following table summarizes the Company’s warrant activity during the nine month period ended September 30, 2018:

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

Warrants outstanding – January 1, 2018

 

 

198,996

 

 

$

1.11

 

Warrants granted

 

 

380,000

 

 

 

6.00

 

Warrants exercised

 

 

-

 

 

 

-

 

Warrants outstanding – September 30, 2018

 

 

578,996

 

 

$

4.32