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Stock Option Plans, Shares Reserved and Warrants (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock option activity

The following table summarizes the outstanding stock option activity for the three months ended March 31, 2019: 

 

    2009 Equity Incentive Plan     Weighted Average Exercise Price     Weighted Average Remaining |Contract Life  
Outstanding Options as of December 31, 2018     9,298,101     $ 4.40        7.92 years  
                         
Options Granted     90,000       3.09        9.84 years  
Options Exercised                  
Options Canceled/Expired     (442,223     3.31        
                         
Outstanding Options as of March 31, 2019     8,945,878     $ 4.43        6.81 years  
                         
Exercisable Options at March 31, 2019     6,653,303     $ 4.84       6.18 years  
Schedule of warrants outstanding

The following table summarizes warrants outstanding at March 31, 2019 and December 31, 2018:   

 

March 31, 2019   Warrant Shares     Exercise Price
Per Share
    Date Issued   Expiration Date  
Old Adamis Warrants     58,824     $ 8.50     November 15, 2007   November 15, 2019  
Preferred Stock Series A-1Warrants     1,183,432     $ 4.10     January 26, 2016   January 26, 2021  
Preferred Stock Series A-2 Warrants     192,414     $ 2.90     July 11, 2016   July 11, 2021  
2016 Common Stock, Private Placement     700,000     $ 2.98     August 3, 2016   August 3, 2021  
Total Warrants     2,134,670                    

  

December 31, 2018    Warrant Shares     Exercise Price
Per Share
    Date Issued   Expiration Date
Old Adamis Warrants     58,824     $ 8.50     November 15, 2007   November 15, 2019
Underwriter Warrants     4,217     $ 7.44     January 16, 2014   January 16, 2019
Preferred Stock Series A-1 Warrants     1,183,432     $ 4.10     January 26, 2016   January 26, 2021
Preferred Stock Series A-2 Warrants     192,414     $ 2.90     July 11, 2016   July 11, 2021
2016 Common Stock, Private Placement     700,000     $ 2.98     August 3, 2016   August 3, 2021
Total Warrants     2,138,887                  
Schedule of RSUs outstanding

The following table summarizes the RSUs outstanding at March 31, 2019 and December 31, 2018:   

 

 March 31, 2019   RSU Shares     Price
Per Share at
Grant Date
    Date of Grant  
Non-Employee Board of Directors     350,000 (1)   $ 8.46     May 25, 2016  
Company Executives     950,000 (1)   $ 3.50     March 1, 2017  
Company Executives     228,141 (2)   $ 2.83     February 21, 2018  
Company Executives and Employees     2,349,350 (3)   $ 3.09     January 30, 2019  
Total RSUs     3,877,491                

  

(1) The RSUs will fully vest on the seventh anniversary of the date of grant if the recipient has provided continuous service or upon change of control or upon death or disability.

(2) The RSUs vest ratably annually over a period of three years if the recipient has provided continuous service or upon change of control or upon death or disability. 

(3) The RSUs vest ratably quarterly over a period of three years if the recipient has provided continuous service or upon change of control or upon death or disability. 

 

December 31, 2018    RSU Shares     Price
Per Share at
Grant Date
    Date of Grant  
Non-Employee Board of Directors     350,000 (1)   $ 8.46     May 25, 2016  
Company Executives     950,000 (1)   $ 3.50     March 1, 2017  
Company Executives     342,212 (2)   $ 2.83     February 21, 2018  
Total RSUs     1,642,212                

  

(1) The RSUs will fully vest on the seventh anniversary of the date of grant if the recipient has provided continuous service or upon change of control or upon death or disability.

(2) The RSUs vest ratably annually over a period of three years if the recipient has provided continuous service or upon change of control or upon death or disability.

Schedule of reserved shares of common stock for issuance upon conversion or exercise and future issuance under plans

At March 31, 2019, the Company has reserved shares of common stock for issuance upon exercise of outstanding options, warrants including all of the warrants in the table above and restricted stock units, as follows: 

 

Warrants     2,134,670  
Restricted Stock Units ("RSUs")     3,877,491  
2009 Equity Incentive Plan     8,945,878  
Total Shares Reserved     14,958,039