Share Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation

All stock-based compensation is included in operating expenses for the periods as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Compensation cost recognized:
Selling, general & administrative	$	88,511	$	64,290	$	264,758	$	497,102
Research & development		8,646		6,753		22,151		16,722
	$	97,157	$	71,043	$	286,909	$	513,824

Schedule of Stock Option Activity

Stock option activity under the 2006 and 2015 Stock Option Plans (collectively, the “Plans”) during the periods indicated below were as follows:

	Number of Shares Subject to Issuance			Weighted- average Exercise Price		Weighted- average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2019		1,421,623		$	1.78	1.96 years	$	8,113,777
Exercised		(767,741	)		1.18
Outstanding at September 30, 2020		653,882		$	2.49	2.74 years	$	2,731,240
Exercisable at September 30, 2020		375,967		$	2.33	2.36 years	$	1,631,859

Schedule of Restricted Stock Units Outstanding

The compensation expense incurred by the Company for RSUs is based on the closing market price of the Company’s common stock on the date of grant and is amortized ratably on a straight-line basis over the requisite service period and charged to general and administrative expense with a corresponding increase to additional paid-in capital.

	Number of Shares			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2019		2,670		$	7.49	$	-
Granted		37,101			5.30
Vested and settled in shares		(35,272	)		5.52
Outstanding at September 30, 2020		4,499		$	6.67	$	-

Schedule of Performance Stock Units

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2019		-	$	-	$	-
Granted		265,942		7.91
Outstanding at September 30, 2020		265,942	$	7.91	$	-