Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.2.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule 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, 2022:
Number of
Shares
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term (Years)
Aggregate Intrinsic Value
Outstanding, December 31, 2021 35,405,000  $ 0.07  9.08 $ 134,750 
Granted 4,350,000  0.04 
Exercised —  — 
Cancelled (321,250) 0.06 
Forfeited (1,678,750) 0.08 
Outstanding, September 30, 2022 37,755,000  $ 0.07  8.45 $  
Exercisable, September 30, 2022 14,782,500  $ 0.08  7.81 $  
Schedule of fair value assumptions of stock option granted
The fair value of the Company's stock option grants were estimated on the date of grant using the Black-Scholes option-pricing model under the following assumptions:
Nine Months Ended
September 30, 2022
Dividend yield —  %
Volatility factor
126.3 - 132.6%
Risk-free interest rate
2.89 - 3.60%
Expected term (years)
5.00 - 6.08
Schedule of RSA activity
The following is a summary of restricted stock activity outside of the 2014 Amended and Restated Plan during the nine months ended September 30, 2022:
Number of
Shares
Weighted
Average
Grant
Date Fair
Value
Unvested, December 31, 2021 150,000  $ 0.13 
Released (150,000) 0.13 
Unvested, September 30, 2022   $  
Schedule of stock-based compensation expense The Company recognized stock-based compensation expense, including compensation expense for warrants with vesting provisions issued to a service provider (Note 4), and the RSUs discussed above, in its Condensed Consolidated Statements of Operations and Comprehensive Loss as follows:
Three Months Ended September 30, Nine Months Ended
September 30,
2022 2021 2022 2021
Research and development $ 23,966  $ 17,986  $ 64,507  $ 37,350 
General and administrative 120,158  470,987  361,339  709,902 
$ 144,124  $ 488,973  $ 425,846  $ 747,252