4. COMMON STOCK

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

COMMON STOCK

4.     COMMON STOCK

At March 31, 2020, the Company's authorized capital stock was 150,000,000 shares of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value $0.001 per share. On that date, the Company had 49,016,270 shares of common stock issued and outstanding, and no shares of preferred stock outstanding.

Stock-based compensation expense related to Company grants for the three months ended March 31, 2020 was $724,183. Stock-based compensation expense for the three months end March 31, 2019 was $646,710.  

2020 Transactions: During the three months ended March 31, 2020, the Company issued 500,000 stock options valued at $2.86 per share that will vest over four years. The Company also issued 438,558 shares of common stock for restricted stock awards previously granted, earned and vested, and for the exercise of vested stock options and received proceeds of $24,000.

2019 Transactions: During the three months ended March 31, 2019, the Company issued 291,147 shares of common stock for restricted stock awards previously granted, earned and vested.