Stockholders Equity and StockBased Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
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| Stockholders Equity and StockBased Compensation (Tables) |
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| Schedule of Non-Vested Options, Activity |
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|
Stock Options Outstanding |
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|
|
|
Stock Options Vested |
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|
|
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Weighted |
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|
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Weighted |
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Average |
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Average |
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|
|
|
|
|
|
|
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Remaining |
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|
|
|
Weighted |
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|
Remaining |
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|
Weighted |
|
|
|
|
Contractual |
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|
Number |
|
|
Average |
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|
Contractual |
|
|
Number |
|
|
Average |
|
|
|
|
Life |
|
|
of |
|
|
Exercise |
|
|
Life |
|
|
of |
|
|
Exercise |
|
Exercise Prices |
|
-Years |
|
|
Awards |
|
|
Price |
|
|
-Years |
|
|
Awards |
|
|
Price |
|
$ |
3.82-$9.00 |
|
|
5.32 |
|
|
|
141,217 |
|
|
$ |
5.18 |
|
|
|
4.99 |
|
|
|
129,451 |
|
|
$ |
5.14 |
|
$ |
9.01-$12.48 |
|
|
6.60 |
|
|
|
116,544 |
|
|
$ |
10.80 |
|
|
|
6.60 |
|
|
|
116,544 |
|
|
$ |
10.80 |
|
$ |
12.49-$24.00 |
|
|
5.12 |
|
|
|
195,090 |
|
|
$ |
14.23 |
|
|
|
5.12 |
|
|
|
195,090 |
|
|
$ |
14.23 |
|
$ |
24.01-$72.00 |
|
|
3.72 |
|
|
|
62,771 |
|
|
$ |
55.07 |
|
|
|
3.72 |
|
|
|
62,771 |
|
|
$ |
55.07 |
|
$ |
72.01-$75.60 |
|
|
3.15 |
|
|
|
23,091 |
|
|
$ |
75.59 |
|
|
|
3.15 |
|
|
|
23,091 |
|
|
$ |
75.59 |
|
Total |
|
|
5.24 |
|
|
|
538,713 |
|
|
$ |
18.51 |
|
|
|
5.16 |
|
|
|
526,947 |
|
|
$ |
18.79 |
|
|
| Summary of RSUs activity |
|
|
|
|
|
Weighted |
|
|
|
Number |
|
|
Average |
|
|
|
of |
|
|
Grant Date |
|
|
|
Shares |
|
|
Fair Value |
|
Total RSUs outstanding at January 1, 2021 |
|
|
243,800 |
|
|
$ |
2.69 |
|
Total RSUs granted |
|
|
— |
|
|
$ |
— |
|
Total RSUs vested (including accelerated vesting) |
|
|
(235,850 |
) |
|
$ |
2.69 |
|
Total RSUs forfeited |
|
|
(7,950 |
) |
|
$ |
2.69 |
|
Total unvested RSUs outstanding at December 31, 2021 |
|
|
— |
|
|
$ |
— |
|
|
| Scheduled vesting for outstanding RSUs awards |
|
|
|
|
|
Weighted |
|
|
|
Number |
|
|
Average |
|
|
|
of |
|
|
Grant Date |
|
|
|
Shares |
|
|
Fair Value |
|
Total RSAs outstanding at January 1, 2021 |
|
|
— |
|
|
$ |
— |
|
Total RSAs granted |
|
|
377,176 |
|
|
$ |
10.69 |
|
Total RSAs vested |
|
|
— |
|
|
$ |
— |
|
Total RSAs forfeited |
|
|
— |
|
|
$ |
— |
|
Total unvested RSAs outstanding at December 31, 2021 |
|
|
377,176 |
|
|
$ |
10.69 |
|
|
|
Year Ending December 31, |
|
|
|
2022 |
|
|
2023 |
|
|
2024 |
|
|
Total |
|
Scheduled vesting |
|
|
62,862 |
|
|
|
62,864 |
|
|
|
62,862 |
|
|
|
188,588 |
|
|
| Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
|
|
Years Ended |
|
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
Research and development expenses |
|
$ |
— |
|
|
$ |
— |
|
General and administrative expenses |
|
|
0.8 |
|
|
|
0.1 |
|
Total stock-based compensation expense |
|
$ |
0.8 |
|
|
$ |
0.1 |
|
|
| Schedule of Warrants Outstanding |
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|
December 31, |
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
Outstanding Warrants |
|
|
|
|
|
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Issued to Investors on October 25, 2013, entitling the holders to purchase 20,833 common shares in the Company at an exercise price of $138.00 per common share up to and including April 24, 2021. In 2016, 4,954 of these warrants were exchanged for common stock, and all remaining warrant holders agreed to new warrant terms, which excluded any potential net cash settlement provisions in exchange for a reduced exercise price of $75.00 per share (warrants expired). |
|
|
— |
|
|
|
13,665 |
|
Issued to Investors on November 17, 2014, entitling the holders to purchase 45,577 common shares in the Company at an exercise price of $138.60 per common share up to and including May 16, 2022. On June 30, 2016, the warrant holders agreed to new warrant terms, which excluded any potential net cash settlement provisions in order to classify them as equity in exchange for a reduced exercise price of $75.00 per share. |
|
|
45,577 |
|
|
|
45,577 |
|
Issued to an investment bank and subsequently transferred to a principal of the investment bank regarding the Series B Preferred Stock investment on January 30, 2018, entitling the holder to purchase 11,119 common shares in the Company at an exercise price of $18.00 per share, up to and including January 30, 2021 (warrants expired). |
|
|
— |
|
|
|
11,119 |
|
Total |
|
|
45,577 |
|
|
|
70,361 |
|
|
| Schedule for Black-Scholes pricing model |
Expected volatility |
|
|
95.15% to 131.85% |
|
Risk free interest rate |
|
|
0.06% to 0.93% |
|
Dividend yield rate |
|
|
0 |
|
Weighted average years |
|
|
1-6 years |
|
Closing price per share - common stock |
|
|
$4.55 to $6.51 |
|
|
| Schedule of Share-based Compensation, Stock Options, Activity |
|
|
Options
Outstanding
|
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Grant Date
Fair Value
|
|
Beginning of the year - January 1, 2021 |
|
|
515,847 |
|
|
$ |
20.23 |
|
|
$ |
14.51 |
|
Granted |
|
|
58,164 |
|
|
|
6.72 |
|
|
|
2.58 |
|
Exercised |
|
|
(30,282 |
) |
|
|
8.94 |
|
|
|
6.77 |
|
Forfeited |
|
|
(3,997 |
) |
|
|
62.52 |
|
|
|
43.63 |
|
Expired |
|
|
(1,019 |
) |
|
|
329.81 |
|
|
|
291.73 |
|
End of the year - December 31, 2021 |
|
|
538,713 |
|
|
$ |
18.51 |
|
|
$ |
12.92 |
|
Options exercisable |
|
|
526,947 |
|
|
$ |
18.79 |
|
|
$ |
13.11 |
|
|
|
Options
Outstanding
|
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Grant Date
Fair Value
|
|
Beginning of the year - January 1, 2020 |
|
|
518,551 |
|
|
$ |
21.99 |
|
|
$ |
15.89 |
|
Granted |
|
|
7,634 |
|
|
|
4.45 |
|
|
|
3.28 |
|
Exercised |
|
|
(6,548 |
) |
|
|
3.82 |
|
|
|
2.59 |
|
Forfeited |
|
|
(1,844 |
) |
|
|
10.80 |
|
|
|
8.33 |
|
Expired |
|
|
(1,946 |
) |
|
|
491.10 |
|
|
|
384.02 |
|
End of the year - December 31, 2020 |
|
|
515,847 |
|
|
$ |
20.23 |
|
|
$ |
14.51 |
|
Options exercisable |
|
|
466,121 |
|
|
$ |
21.35 |
|
|
$ |
15.27 |
|
|
| Schedule of Stock option transactions of the employees |
|
|
Shares |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Fair Value
Grant Date
|
|
Non-vested – December 31, 2019 |
|
|
84,873 |
|
|
$ |
10.73 |
|
|
$ |
5.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
7,634 |
|
|
|
4.45 |
|
|
|
3.28 |
|
Vested |
|
|
(41,552 |
) |
|
|
10.80 |
|
|
|
8.29 |
|
Forfeited |
|
|
(1,229 |
) |
|
|
10.80 |
|
|
|
8.33 |
|
Non-vested – December 31, 2020 |
|
|
49,726 |
|
|
$ |
9.71 |
|
|
$ |
7.44 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
58,164 |
|
|
|
6.72 |
|
|
|
2.58 |
|
Vested |
|
|
(96,124 |
) |
|
|
8.40 |
|
|
|
4.89 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Non-vested – December 31, 2021 |
|
|
11,766 |
|
|
$ |
5.71 |
|
|
$ |
4.25 |
|
|