Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 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 nine months ended September 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 2,475,000  0.14 
Exercised (106,250) 0.05 
Cancelled (40,000) 0.05 
Forfeited (888,750) 0.05 
Outstanding, September 30, 2021 23,490,000  $ 0.07  8.88
Exercisable, September 30, 2021 8,690,000  $ 0.09  8.61
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 Nine Months Ended
September 30, 2021
Dividend yield 0.00%
Volatility factor
119.1 - 124.2%
Risk-free interest rate
0.82 - 1.11%
Expected term (years)
5.27 - 6.13
Schedule of RSA activity
The following is a summary of restricted stock activity outside of the Company’s 2014 Plan during the nine months ended September 30, 2021:
Number of
Shares		 Weighted
Average
Grant
Date Fair
Value
Unvested, December 31, 2020 —  $ — 
Granted 1,500,000  0.12 
Released (1,350,000) 0.12 
Unvested, September 30, 2021 150,000  $ 0.13 
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 September 30, Nine Months Ended
September 30,
2021 2020 2021 2020
Research and development $ 17,986  $ 44,010  $ 37,350  $ 82,463 
General and administrative 470,987  104,355  709,902  158,753 
$ 488,973  $ 148,365  $ 747,252  $ 241,216