Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.21.2
Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 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     1,042,000               2.95       2.40  
Exercised     (10,000 )             1.45       0.66  
Cancelled    
     
 
     
 
     
 
 
Outstanding September 30, 2021     3,700,866       7.78     $ 2.62     $ 1.96  
Outstanding September 30, 2021, vested and exercisable     2,069,005       7.40     $ 2.76     $ 2.02  

 

Schedule of black scholes valuation model to determine the fair value of the options issued
    September 30,
2021
 
Fair Value per Share   $ 2.21-3.20  
Expected Term     1.00-5.75 years  
Expected Dividend   $  
Expected Volatility     109.29-110.27 %
Risk free rate     0.07-0.49 %

 

Schedule of stock-based compensation expense
    Three months ended 
September 30,
    Nine months ended 
September 30,
 
    2021     2020     2021     2020  
Research and development options expense     79,604       56,458       223,413       196,976  
Total research and development expenses     79,604       56,458       223,413       196,976  
General and administrative options expense     468,281       291,727       1,289,192       878,864  
Stock and warrants issued to consultants and employees     640,992       329,807       1,844,254       685,238  
Total general and administrative expenses     1,109,273       621,534       3,133,446       1,564,102  
Total stock-based compensation expense   $ 1,188,877     $ 677,992     $ 3,356,859     $ 1,761,078  

 

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     53,146               2.21          
Exercised     (712,500 )             2.00          
Outstanding September 30, 2021     7,990,271       3.11     $ 5.17     $ 0.42