Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.8.0.1
Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2018
Stockholders Equity Note [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity under the plans during the three month period ended March 31, 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

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Forfeited / Cancelled

 

 

(24,582

)

 

$

1.43

 

 

 

 

 

 

 

 

 

Exercised

 

 

(416,416

)

 

$

0.86

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2018

 

 

1,938,446

 

 

$

1.02

 

 

 

5.69

 

 

$

6,550,748

 

Exercisable at March 31, 2018

 

 

1,529,689

 

 

$

0.81

 

 

4.82

 

 

$

5,489,827

 

Vested and expected to vest at March 31, 2018

 

 

1,928,671

 

 

$

1.02

 

 

 

5.67

 

 

$

6,525,894

 

 

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.  There were no options issued during the three month periods ended March 31, 2018 and 2017.

 

 

 

For The Three Month Periods

Ended March 31,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

 

-

 

 

 

-

 

Expected volatility

 

 

-

 

 

 

-

 

Risk-free interest rate

 

 

-

 

 

 

-

 

Weighted average grant date fair value per share

 

 

-

 

 

 

-

 

Grant date fair value of options vested

 

$

1,240,805

 

 

$

1,428,468

 

Intrinsic value of options exercised

 

$

1,472,506

 

 

$

30,000

 

 

Summary of Stock-Based Compensation Expense

Stock-based compensation expense for the three month periods ended March 31, 2018 and 2017 was comprised of the following:

 

 

 

For The Three Month Periods

ended March 31,

 

 

 

2018

 

 

2017

 

Stock-based compensation classified as:

 

 

 

 

 

 

 

 

Cost of revenue

 

$

3,190

 

 

$

-

 

General and administrative

 

 

21,820

 

 

 

18,500

 

Marketing and selling

 

 

2,949

 

 

 

4,900

 

Research and development

 

 

7,359

 

 

 

1,226

 

 

 

$

35,318

 

 

$

24,626

 

 

Schedule of Warrant Activity

The following table summarizes the Company’s warrant activity during the three month period ended March 31, 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 – March 31, 2018

 

 

578,996

 

 

$

4.32