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Share-based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Compensation [Abstract]  
Schedule of stock-based compensation expense included in statement of operations

 

Three Months Ended
September 30,



Nine Months Ended

September 30,




2019


2018


2019
2018

   

Payroll and related expenses 

$ 139,402

$ 117,102

   

$

472,014

   

   

$

282,416

   


Marketing and business development expenses
3,375





10,125



 

       Total

$ 142,777

$ 117,102

   

$

482,139

   

 

$

282,416

   



Three Months Ended
September 30,



Nine Months Ended

September 30,




2019


2018


 2019

2018

 

Stock options

$ 40,098

$ 117,102

   

$

112,293

  

  

$

282,416

   

 

Restricted stock units


102,679



   

 

369,846

  

  

 

   


Total $ 142,777

$ 117,102

$ 482,139

$ 282,416
Schedule of fair value stock-based option awards granted using Black-Scholes option valuation model

 

 

 

2019

 


  2018

 

Expected dividend yield

 

 

%



%

 

Expected stock volatility

 

 

68.35

%



25.70 %

 

Risk-free interest rate

 

 

2.44

%



2.56 %

 

Expected life (in years)

 

 

3

 



5
Schedule of employee stock option activity

 

 

 

 Shares

 

 

Weighted Average Fair Value Per Share

 

 

Weighted
Average Exercise Price Per Share

 

 

Weighted Average Remaining Terms (in years)

 

 

Aggregate Intrinsic Value

 

 

Outstanding – December 31, 2018

 

 

1,105,059

 

 

$

1.24

 

 

$

4.06

 

 

 

8.41

 

 

$

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(25,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding – September 30, 2019

 

 

1,080,059

 

 

 

1.24

 

 

 

4.05

 

 

 

7.64

 

 

$

 

 

Exercisable – December 31, 2018

 

 

949,355

 

 

 

1.23

 

 

 

4.00

 

 

 

8.30

 

 

 

 

 

Exercisable – September 30, 2019

 

 

1,024,356

 

 

$

1.24

 

 

$

4.04

 

 

 

7.62

 

 

$

 

Schedule of RSU activities


    Number of Shares

 

Non-vested balance at January 1, 2019



22,364

 

Granted



508,349

Vested
(27,792 )

Forfeited/Expired
(56,779 )

Non-vested balance at September 30, 2019 
446,142