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STOCKHOLDERS EQUITY (Tables)
9 Months Ended
Sep. 30, 2021
Stockholders' equity  
Warrant activity

 

 

Warrants

 

 

Weighted Average Exercise Price

 

Outstanding at December 31, 2020

 

 

16,599,079

 

 

$1.29

 

Issued

 

 

5,131,264

 

 

 

2.00

 

Exercised

 

 

(801,576)

 

 

1.54

 

Outstanding at September 30, 2021

 

 

20,928,767

 

 

$1.45

 

Shares available for grant under the 2016 Plan

 

 

Shares

Available for

Grant

 

Balances, at December 31, 2020

 

 

356,500

 

Additional shares reserved

 

 

750,000

 

Options granted

 

 

(378,750)

Options cancelled/forfeited

 

 

91,000

 

Balances, at September 30, 2021

 

 

818,750

 

Options activity

 

 

Outstanding Options

 

 

 

Number of

Shares

 

 

Weighted Average Exercise Price

 

Balances at December 31, 2020

 

 

393,500

 

 

$1.81

 

Options granted

 

 

378,750

 

 

$1.88

 

Options cancelled/forfeited

 

 

(91,000)

 

$1.59

 

Balances at September 30, 2021

 

 

681,250

 

 

$1.88

 

Fair value assumptions

 

 

For the nine months ended September 30,

 

 

 

2021

 

 

2020

 

Risk-free interest rate (weighted average)

 

 

0.72%

 

 

1.02%

Expected volatility (weighted average)

 

 

101.60%

 

 

97.63%

Expected term (in years)

 

 

6.7

 

 

 

7

 

Expected dividend yield

 

 

0.00%

 

 

0.00%
Outstanding stock options under the 1999 Plan

 

 

Outstanding Options

 

 

 

Number of

Shares

 

 

Weighted Average Exercise Price

 

Balances at December 31, 2020

 

 

57,648

 

 

$46.34

 

Options cancelled

 

 

(8,532)

 

$54.19

 

Balances at September 30, 2021

 

 

49,116

 

 

$44.98