11. Share-Based Expense (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Schedule of Share-Based Compensation Expense |
| |
|
Year Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Research and development expenses |
|
$ |
126,933 |
|
|
$ |
203,030 |
|
| General and administrative expenses |
|
|
726,584 |
|
|
|
1,228,757 |
|
| |
|
$ |
853,517 |
|
|
$ |
1,431,787 |
|
|
| Common Stock Awards [Member] |
|
| Common stock awards |
| |
|
Number of shares |
|
| Balance as of January 1, 2018 |
|
|
5,237 |
|
| Granted |
|
|
2,167 |
|
| Issued |
|
|
– |
|
| Balance as of December 31, 2018 |
|
|
7,404 |
|
| Granted |
|
|
9,026 |
|
| Issued |
|
|
(7,836 |
) |
| Balance as of December 31, 2019 |
|
|
8,594 |
|
|
| Employee Stock Options [Member] |
|
| Assumptions used |
| |
|
Year Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Weighted-average expected dividend yield (%) |
|
|
– |
|
|
|
– |
|
| Weighted-average expected volatility (%) |
|
|
156.78 |
|
|
|
118.03 |
|
| Weighted-average risk-free interest rate (%) |
|
|
1.71 |
|
|
|
2.90 |
|
| Weighted-average expected life of option (years) |
|
|
5.88 |
|
|
|
5.90 |
|
| Weighted-average exercise price ($) |
|
|
1.31 |
|
|
|
36.60 |
|
|
| Option activity |
| |
|
Number of
shares |
|
|
Weighted-
average
exercise
price |
|
|
Weighted-
average
remaining
life
(years) |
|
|
Aggregate
intrinsic
value |
|
| Outstanding as of January 1, 2018 |
|
|
148,381 |
|
|
$ |
47.90 |
|
|
|
8.53 |
|
|
$ |
5,273 |
|
| Granted |
|
|
8,336 |
|
|
|
36.60 |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(9,245 |
) |
|
|
68.76 |
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2018 |
|
|
147,472 |
|
|
|
45.95 |
|
|
|
8.17 |
|
|
$ |
– |
|
| Granted |
|
|
525,000 |
|
|
|
1.31 |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(10,413 |
) |
|
|
25.32 |
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2019 |
|
|
662,059 |
|
|
$ |
10.88 |
|
|
|
9.34 |
|
|
$ |
66,125 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Vested or expected to vest as of December 31, 2019 |
|
|
662,059 |
|
|
$ |
10.88 |
|
|
|
9.34 |
|
|
$ |
66,125 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable as of December 31, 2018 |
|
|
96,031 |
|
|
$ |
49.34 |
|
|
|
7.92 |
|
|
$ |
– |
|
| Exercisable as of December 31, 2019 |
|
|
123,864 |
|
|
$ |
47.69 |
|
|
|
7.10 |
|
|
$ |
– |
|
|
| Non-vested option activity |
| |
|
Number of
shares |
|
|
Weighted-
average
grant date
fair value |
|
| Balance as of January 1, 2019 |
|
|
51,439 |
|
|
$ |
31.92 |
|
| Granted |
|
|
525,000 |
|
|
$ |
1.24 |
|
| Forfeited |
|
|
(10,413 |
) |
|
$ |
14.44 |
|
| Vested |
|
|
(27,831 |
) |
|
$ |
37.37 |
|
| Balance as of December 31, 2019 |
|
|
538,195 |
|
|
$ |
2.05 |
|
|
| 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, 2018 |
|
|
4,731 |
|
|
$ |
90.49 |
|
|
|
6.31 |
|
|
$ |
– |
|
| Granted |
|
|
834 |
|
|
|
23.16 |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(263 |
) |
|
|
219.00 |
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2018 |
|
|
5,302 |
|
|
|
73.52 |
|
|
|
5.40 |
|
|
$ |
– |
|
| Granted |
|
|
15,500 |
|
|
|
1.08 |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(242 |
) |
|
|
225.72 |
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2019 |
|
|
20,560 |
|
|
$ |
17.09 |
|
|
|
4.74 |
|
|
$ |
– |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Vested or expected to vest as of December 31, 2019 |
|
|
20,560 |
|
|
$ |
17.09 |
|
|
|
4.74 |
|
|
$ |
– |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable as of December 31, 2018 |
|
|
5,302 |
|
|
$ |
73.52 |
|
|
|
5.40 |
|
|
$ |
– |
|
| Exercisable as of December 31, 2019 |
|
|
5,060 |
|
|
$ |
66.15 |
|
|
|
4.63 |
|
|
$ |
– |
|
|
| Non-vested option activity |
| |
|
Number of
shares |
|
|
Weighted-
average
grant date
fair value |
|
| Balance as of January 1, 2019 |
|
|
– |
|
|
$ |
– |
|
| Granted |
|
|
15,500 |
|
|
$ |
0.94 |
|
| Vested |
|
|
– |
|
|
$ |
– |
|
| Balance as of December 31, 2019 |
|
|
15,500 |
|
|
$ |
0.94 |
|
|