Annual report pursuant to Section 13 and 15(d)

10. Share-Based Expense (Tables)

v3.19.1
10. Share-Based Expense (Tables)
12 Months Ended
Dec. 31, 2018
Schedule of Share-Based Compensation Expense
    Year Ended December 31,  
    2018     2017  
Research and development expenses   $ 203,030     $ 101,401  
General and administrative expenses     1,228,757       1,691,692  
    $ 1,431,787     $ 1,793,093  
Common Stock Awards [Member]  
Common stock awards
    Number of shares  
Balance as of January 1, 2017     29,790  
Granted     41,800  
Issued     (8,773 )
Balance as of December 31, 2017     62,817  
Granted     26,000  
Issued      
Balance as of December 31, 2018     88,817  
Employee Stock Options [Member]  
Assumptions used
    Year Ended December 31,  
    2018     2017  
Weighted-average expected dividend yield (%)            
Weighted-average expected volatility (%)     118.03       111.37  
Weighted-average risk-free interest rate (%)     2.90       1.79  
Weighted-average expected life of option (years)     5.90       5.36  
Weighted-average exercise price ($)     3.05       3.34  
Option activity
    Number of
shares
    Weighted-
average
exercise
price
    Weighted-
average
remaining
life
(years)
    Aggregate
intrinsic
value
 
Outstanding as of January 1, 2017     1,193,712     $ 4.43       8.94     $ 526,073  
Granted     700,000       3.34                  
Expired     (113,343 )     4.61                  
Outstanding as of December 31, 2017     1,780,369       3.99       8.53     $ 5,273  
Granted     100,000       3.05                  
Expired     (110,929 )     5.73                  
Outstanding as of December 31, 2018     1,769,440     $ 3.83       8.17     $  
                                 
Vested or expected to vest as of December 31, 2018     1,744,440     $ 3.85       8.16     $  
                                 
Exercisable as of December 31, 2017     731,895     $ 4.84       7.44     $ 5,273  
Exercisable as of December 31, 2018     1,152,173     $ 4.11       7.92     $  
Non-vested option activity
    Number of
shares
    Weighted-
average
grant date
fair value
 
Balance as of January 1, 2018     1,048,474     $ 2.86  
Granted     100,000     $ 2.63  
Forfeited     (6,667 )   $ 2.91  
Vested     (524,540 )   $ 3.05  
Balance as of December 31, 2018     617,267     $ 2.65  
Non Employee Stock Options [Member]  
Option activity
    Number of
shares
    Weighted-
average
exercise
price
    Weighted-
average
remaining
life
(years)
    Aggregate
intrinsic
value
 
Outstanding as of January 1, 2017     57,442     $ 7.57       7.23     $  
Expired     (723 )     10.34                
Outstanding as of December 31, 2017     56,719       7.53       6.31     $  
Granted     10,000       1.93                  
Expired     (3,148 )     18.25                  
Outstanding as of December 31, 2018     63,571     $ 6.12       5.40     $  
                                 
Vested or expected to vest as of December 31, 2018     63,571     $ 6.12       5.40     $  
                                 
Exercisable as of December 31, 2017     56,719     $ 7.53       6.31     $  
Exercisable as of December 31, 2018     63,571     $ 6.12       5.40     $  
Non-vested option activity
    Number of
shares
    Weighted-
average
grant date
fair value
 
Balance as of January 1, 2018         $  
Granted     10,000     $ 1.73  
Vested     (10,000 )   $ 1.73  
Balance as of December 31, 2018         $