Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of summary of stock option activity
The following is a summary of option activities under the Company’s 2014 Plan for the six months ended June 30, 2021:
Number of
Shares		 Weighted
Average
Exercise Price		 Weighted
Average
Remaining
Contractual
Term (Years)
Outstanding, December 31, 2020 22,050,000  $ 0.06  9.52
Granted 700,000  0.16 
Exercised (106,250) 0.05 
Cancelled (753,750) 0.05 
Forfeited (40,000) 0.05 
Outstanding, June 30, 2021 21,850,000  $ 0.07  9.05
Exercisable, June 30, 2021 6,130,000  $ 0.11  8.72
Vested and expected to vest, June 30, 2021 21,850,000  $ 0.07  9.05
Schedule of fair value assumptions of stock option granted
The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:
For the Six Months Ended June 30, 2021
Dividend yield 0.00%
Volatility factor 124.2%
Risk-free interest rate 1.11%
Expected term (years) 6.01
Schedule of RSA activity
The following is a summary of restricted stock activity outside of the Company’s 2014 Plan during the six months ended June 30, 2021:
Number of
Shares		 Weighted
Average
Grant
Date Fair
Value
Unvested, December 31, 2020 —  $ — 
Granted 1,200,000  0.08 
Released (600,000) 0.08 
Unvested, June 30, 2021 600,000  $ 0.08 
Schedule of stock-based compensation expense Stock-based compensation expense (including compensation expense for restricted stock awards discussed above) was as follows:
Three Months Ended June 30, Six Months Ended
June 30,
2021 2020 2021 2020
Research and development $ 13,612  $ —  $ 19,363  $ — 
General and administrative 98,087  28,709  238,916  92,851 
$ 111,699  $ 28,709  $ 258,279  $ 92,851