Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
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 three months ended March 31, 2023:
Number of
Shares		 Weighted
Average
Exercise Price		 Weighted
Average
Remaining
Contractual
Term (Years)		 Aggregate Intrinsic Value*
Outstanding, December 31, 2022 42,995,062  $ 0.18  7.14 $ — 
Granted 5,100,000  0.02  — 
Exercised —  — 
Cancelled (1,517,020) 0.60 
Forfeited (2,644,792) 0.17 
Outstanding, March 31, 2023 43,933,250  $ 0.15  3.63 $ — 
Exercisable, March 31, 2023 25,699,417  $ 0.23  3.28 $ — 
*The aggregate intrinsic value is the sum of the amounts by which the quoted market price of the Company’s stock exceeded the exercise price of the stock options at March 31, 2023 for those stock options for which the quoted market price was in excess of the exercise price ("in-the-money options").
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:
Three Months Ended
March 31, 2023
Dividend yield —  %
Volatility factor
123.3 - 127.0%
Risk-free interest rate
3.86 - 3.99%
Expected term (years)
5.27 - 6.08
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 5), and the RSUs discussed above, in its Condensed Consolidated Statements of Operations as follows:
Three Months Ended
March 31,
2023 2022
Research and development $ 44,468  $ 18,585 
General and administrative 87,111  118,773 
$ 131,579  $ 137,358