Temporary Equity and Stockholders' Deficiency (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| Equity [Abstract] |
|
| Summary of Warrants Activity |
A summary of warrants
activity during the three months ended March 31, 2019 is presented below:
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Life in Years |
|
|
Intrinsic Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2018 |
|
|
1,229,630 |
|
|
|
2.15 |
|
|
|
|
|
|
|
|
|
| Issued |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Cancelled |
|
|
(97,021 |
) |
|
|
2.30 |
|
|
|
|
|
|
|
|
|
| Outstanding, March 31, 2019 |
|
|
1,132,609 |
|
|
$ |
2.14 |
|
|
|
1.60 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, March 31, 2019 |
|
|
1,132,609 |
|
|
$ |
2.14 |
|
|
|
1.60 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Equity Instruments Other Than Options, by Exercise Price Range |
A summary of outstanding and exercisable
warrants as of March 31, 2019 is presented below:
| Warrants Outstanding |
|
|
Warrants Exercisable |
|
| Exercise Price |
|
|
Exercisable Into |
|
Outstanding Number of Warrants |
|
|
Weighted Average Remaining
Life in Years
|
|
|
Exercisable Number of Warrants |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| $ |
2.00 |
|
|
Common Stock |
|
|
741,879 |
|
|
|
1.8 |
|
|
|
741,879 |
|
| $ |
2.30 |
|
|
Common Stock |
|
|
202,423 |
|
|
|
0.4 |
|
|
|
202,423 |
|
| $ |
2.50 |
|
|
Common Stock |
|
|
188,307 |
|
|
|
2.0 |
|
|
|
188,307 |
|
| |
|
|
|
Total |
|
|
1,132,609 |
|
|
|
|
|
|
|
1,132,609 |
|
|
| Schedule of Fair Value Assumptions of Stock Option |
The Company has
computed the fair value of options granted using the Black-Scholes option pricing model. Assumptions used in applying the Black-Scholes
option pricing model during the three months ended March 31, 2019 are as follows:
| |
|
For the Three Months Ended |
|
| |
|
March 31, |
|
| |
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
| Risk free interest rate |
|
|
2.43 |
% |
|
|
2.56 |
% |
| Expected term (years) |
|
|
3.6 - 5.0 |
|
|
|
5.0 |
|
| Expected volatility |
|
|
52.00 |
% |
|
|
43.50 |
% |
| Expected dividends |
|
|
0.00 |
% |
|
|
0.00 |
% |
|
| Schedule of Share-based Compensation, Stock Options, Activity |
A summary of options activity during the
three months ended March 31, 2019 is presented below:
| |
|
|
|
|
Weighted |
|
|
Weighted |
|
|
|
|
| |
|
|
|
|
Average |
|
|
Average |
|
|
|
|
| |
|
Number of |
|
|
Exercise |
|
|
Remaining |
|
|
Intrinsic |
|
| |
|
Options |
|
|
Price |
|
|
Term (Yrs) |
|
|
Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2018 |
|
|
9,499,265 |
|
|
|
1.65 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
1,350,000 |
|
|
|
0.39 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(75,000 |
) |
|
|
1.10 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(225,000 |
) |
|
|
1.10 |
|
|
|
|
|
|
|
|
|
| Outstanding, March 31, 2019 |
|
|
10,549,265 |
|
|
$ |
1.50 |
|
|
|
2.6 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, March 31, 2019 |
|
|
5,696,780 |
|
|
$ |
2.16 |
|
|
|
1.2 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Shares Outstanding Under Stock Option Plans, by Exercise Price Range |
The following table presents
information related to stock options at March 31, 2019:
| Options Outstanding |
|
|
Options Exercisable |
|
| Exercise Price |
|
|
Outstanding
Number of Options
|
|
|
Weighted Average Remaining Life in Years |
|
|
Exercisable
Number of Options
|
|
| |
|
|
|
|
|
|
|
|
|
|
| $ |
0.39 |
|
|
|
1,350,000 |
|
|
|
- |
|
|
|
- |
|
| $ |
0.54 |
|
|
|
1,500,000 |
|
|
|
- |
|
|
|
- |
|
| $ |
0.77 |
|
|
|
1,320,000 |
|
|
|
3.9 |
|
|
|
330,000 |
|
| $ |
1.10 |
|
|
|
1,070,000 |
|
|
|
3.6 |
|
|
|
334,380 |
|
| $ |
2.20 |
|
|
|
3,071,890 |
|
|
|
1.2 |
|
|
|
2,813,025 |
|
| $ |
2.48 |
|
|
|
2,237,375 |
|
|
|
0.4 |
|
|
|
2,219,375 |
|
| |
|
|
|
|
10,549,265 |
|
|
|
1.2 |
|
|
|
5,696,780 |
|
|