Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

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

A summary of stock option activity under the plans during the six month period ended June 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

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Forfeited / Cancelled

 

 

(24,582

)

 

$

1.43

 

 

 

 

 

 

 

 

 

Exercised

 

 

(422,337

)

 

$

0.86

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2018

 

 

1,932,525

 

 

$

1.02

 

 

 

5.44

 

 

$

6,104,056

 

Exercisable at June 30, 2018

 

 

1,602,514

 

 

$

0.86

 

 

 

4.77

 

 

$

5,321,644

 

Vested and expected to vest at June 30, 2018

 

 

1,925,287

 

 

$

1.02

 

 

 

5.43

 

 

$

6,087,361

 

 

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 six month periods ended June 30, 2017.  There were no options issued during the six month period ended June 30, 2018.

 

 

 

For The Six Month Periods

Ended June 30,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

 

-

 

 

5.32 - 5.88

 

Expected volatility

 

 

-

 

 

43.5 - 43.8%

 

Risk-free interest rate

 

 

-

 

 

1.86 - 1.93%

 

Weighted average grant date fair value per share

 

 

-

 

 

$

0.84

 

Grant date fair value of options vested

 

$

1,376,865

 

 

$

1,374,421

 

Intrinsic value of options exercised

 

$

20,235

 

 

$

149,256

 

 

Schedule of Restricted Stock Unit Activity

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

 

 

 

Restricted Stock Units

 

 

 

Number of

Shares

 

 

Weighted

Average Grant

Date Fair Value

 

Unvested at January 1, 2018

 

 

-

 

 

$

-

 

Granted

 

 

160,000

 

 

$

667,200

 

Vested

 

 

-

 

 

$

-

 

Cancelled

 

 

(7,500

)

 

$

(31,275

)

Unvested at June 30, 2018

 

 

152,500

 

 

$

635,925

 

 

Summary of Stock-Based Compensation Expense

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

 

 

 

For The Three Month Periods

ended June 30,

 

 

For The Six Month Periods

ended June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Stock-based compensation classified as:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

3,273

 

 

$

-

 

 

$

6,463

 

 

$

-

 

General and administrative

 

 

104,621

 

 

 

27,606

 

 

 

126,441

 

 

 

46,106

 

Marketing and selling

 

 

7,866

 

 

 

6,595

 

 

 

10,815

 

 

 

11,495

 

Research and development

 

 

9,056

 

 

 

1,803

 

 

 

16,414

 

 

 

3,029

 

 

 

$

124,816

 

 

$

36,004

 

 

$

160,133

 

 

$

60,630

 

 

Schedule of Warrant Activity

The following table summarizes the Company’s warrant activity during the six month period ended June 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 – June 30, 2018

 

 

578,996

 

 

$

4.32