Quarterly report pursuant to Section 13 or 15(d)

Equity Transactions (Tables)

v3.19.1
Equity Transactions (Tables)
3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Schedule of Stock Option Activity

A summary of option activity for the three months ended March 31, 2019 is presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at December 31, 2018     2,478,974     $ 5.25       2.93     $ 2,660,000  
Granted     160,667       7.84       -       -  
Forfeited     (181,667 )     5.81       -       -  
Exercised     -       -       -       -  
Outstanding at March 31, 2019     2,457,974     $ 5.44       2.69     $ 4,332,000  
                                 
Vested March 31, 2019     1,287,303     $ 4.75             $ 3,350,000  
                                 
Exercisable at March 31, 2019     826,751     $ 5.08             $ 1,740,000  

Schedule of Fair Value Assumptions Using Black-Scholes Method

The fair value of share option award is estimated using the Black-Scholes option pricing method based on the following weighted-average assumptions:

 

    Three Months Ended March 31,  
    2019     2018  
Risk-free interest rate     2.75 %     2.25-2.66 %
Average expected term (years)     5 years       5 years  
Expected volatility     201.3 %     184.5 %
Expected dividend yield     -       -  

Schedule of Warrants Outstanding

The Company has the following warrants outstanding as of March 31, 2019, all of which are exercisable:

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Warrants     Price     Life (Years)     Value  
                         
Outstanding at December 31, 2018     940,412     $ 3.60       2.32     $ 1,974,000  
Granted     -       -       -       -  
Forfeited     -       -       -       -  
Exercised     (161,969 )     1.05       -       -  
Outstanding at March 31, 2019, all vested     778,446     $ 4.14       2.14     $ 2,152,000