Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.21.1
Shareholders' Equity (Tables)
3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [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, 2020     2,668,866       8.09     $ 2.48     $ 1.13  
Issued     918,000               2.96       2.41  
Exercised     (10,000 )             1.45       0.66  
Cancelled                              
Outstanding March 31, 2021     3,576,866       8.38     $ 2.61     $ 1.94  
Outstanding March 31, 2021, vested and exercisable     1,493,019       7.69     $ 2.87     $ 2.08  
Schedule of black scholes valuation model to determine the fair value of the options issued
    March 31,
2021
 
Fair Value per Share   $ 2.21-3.11  
Expected Term     5.75 years  
Expected Dividend   $  
Expected Volatility     109.29-109.64 %
Risk free rate     0.41-0.49 %
Schedule of stock-based compensation expense
    Three months ended 
March 31,
 
    2021     2020  
Research and development options expense   $ 66,632     $ 86,439  
Total research and development expenses     66,632       86,439  
General and administrative options and warrants expense    

407,156

      255,568  
Stock issued to consultants and employees     850,900       228,626  
Total general and administrative expenses     1,258,116       484,194  
Total stock-based compensation expense   $

1,324,688

    $ 570,633  
Schedule of activity in warrants
    Total
Warrants
    Weighted
Average
Remaining
Term
(Years)
    Weighted
Average
Exercise
Price
    Average
Intrinsic
Value
 
Outstanding December 31, 2020     8,649,625       3.46     $ 4.60     $ 0.02  
Issued     20,100               1.99          
Exercised     (712,500 )             2.00          
Outstanding March 31, 2021     7,957,225       3.13     $ 4.83     $ 0.02