Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.20.2
Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Schedule of stock options activity
    Total
Options
Outstanding
    Weighted
Average
Remaining
Term
(Years)
    Weighted
Average
Exercise
Price
    Weighted
Average
Fair Value
at Issue
 
Outstanding December 31, 2019     1,661,466       9.14       3.38       2.38  
Issued     1,255,000               1.44       1.13  
Cancelled     (247,600 )             3.27       2.04  
Outstanding September 30, 2020     2,668,866       8.34       2.48       1.78  
Outstanding September 30, 2020, vested and exercisable     1,037,227       7.85     $ 2.63     $ 2.22
Schedule of black scholes valuation model to determine the fair value of the options issued
    September 30, 
2020
 
Fair Value per Share   $ 1.36-1.48  
Expected Term     5.75 years  
Expected Dividend   $  
Expected Volatility     102.39-103.83 %
Risk free rate     0.49-0.72 %
Schedule of stock-based compensation expense
    Three months ended 
September 30,
    Nine months ended 
September 30,
 
    2020     2019     2020     2019  
Research and development options expense     56,458       99,612       196,976       241,315  
Total research and development expenses     56,458       99,612       196,976       241,315  
General and administrative options expense     291,727       214,007       878,864       511,664  
Stock and warrants issued to consultants and employees     329,807       71,250       685,238       380,354  
Total general and administrative expenses     621,534       285,257       1,564,102       892,018  
Total stock-based compensation expense   $ 677,992     $ 384,869     $ 1,761,078     $ 1,133,333
Schedule of activity in warrants
   

Total

Warrants

    Weighted
Average
Remaining
Term
(Years)
   

Weighted

Average

Exercise

Price

    Average
Intrinsic
Value
 
Outstanding December 31, 2019     6,669,274       4.23     $ 5.38       0.03  
Issued     2,187,000               1.98          
Exercised     (226,354 )             1.99          
Outstanding September 30, 2020     8,629,920       4.88     $ 4.61       0.08