Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity (Tables)

v3.22.1
Shareholders' Equity (Tables)
12 Months Ended
Dec. 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, 2019

    1,661,466                                           3.38                2.38  
Issued     1,255,000               1.44       1.13  
Cancelled     (247,600 )             3.27       2.04  
Outstanding December 31, 2020     2,668,866                8.09     $ 2.48     $ 1.13  
Issued     1,132,000               2.47       2.37  
Exercised     (215,556 )             2.18       0.89  
Outstanding December 31, 2021     3,585,310       7.80     $ 2.64     $ 2.02  
Outstanding December 31, 2021, vested and exercisable     2,172,922       7.40     $ 2.78     $ 2.08  

 

Schedule of black scholes valuation model to determine the fair value of the options issued
    December  31,
2021
 
 
Fair Value per Share $ 2.21-4.52  
Expected Term    1.00-5.75 years  
Expected Dividend $  
Expected Volatility    108.35-110.69 %
Risk free rate    0.07-1.26 %

 

Schedule of stock-based compensation expense
    Year ended December 31,  
    2021     2020  
Research and development options expense     304,421       252,173  
Total research and development expenses     304,421       252,173  
General and administrative options expense     1,955,096       1,168,281  
Stock and warrants issued to consultants and employees     1,980,900       710,792  
Total general and administrative expenses     3,935,996       1,879,073  
Total stock-based compensation expense   $ 4,240,417     $ 2,131,246  

 

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     2,206,705               1.98      
 
 
Exercised     (226,354 )           $ 1.99      
 
 
Outstanding December 31, 2020     8,649,625       3.46     $ 4.60       0.02  
Issued     53,146               2.26      
 
 
Exercised     (712,500 )           $ 2.00      
 
 
Outstanding December 31, 2021     7,990,271       2.63     $ 4.82       0.14