Stock-Based Compensation and Warrants (Tables)

12 Months Ended

Dec. 31, 2021

Stock-Based Compensation and Warrants

Schedule of assumptions used for awards

	Year ended December 31,
	2021			2020
Exercise price	$	0.33		$	0.42
Expected dividends		0	%		0	%
Expected volatility		92	%		88	%
Risk free interest rate		1.12	%		0.31	%
Expected life of option (years)		4.3			4.3

Summary of stock option activity

A summary of stock option activity for the years ended December 31, 2021 and 2020 is as follows:

		Weighted		Weighted Average	Aggregate
		Average Exercise		Remaining	Intrinsic
	Options	Price		Contractual Life	Value
Balance - December 31, 2019	2,502,012	$	3.62	6.51 years	$	153,353
Granted	1,540,000		0.42
Exercised	—		—
Expired	(14,944)		17.57
Forfeited	(29,650)		0.55
Balance - December 31, 2020	3,997,418		2.35	6.09 years		—
Granted	2,260,000		0.33
Exercised	—		—
Expired	(2,143)		45.15
Forfeited	—		—
Balance -December 31, 2021 - outstanding	6,255,275	$	1.61	5.58 years	$	—
Balance -  December 31, 2021 - exercisable	2,786,934	$	3.16	4.44 years	$	—
Grant date fair value of options granted - December 31, 2021		$	501,000
Weighted average grant date fair value - December 31, 2021		$	0.22
Grant date fair value of options granted - December 31, 2020		$	412,000
Weighted average grant date fair value - December 31, 2020		$	0.27

Schedule of options outstanding and exercisable

The options outstanding and exercisable at December 31, 2021 are as follows:

Options Outstanding						Options Exercisable
					Weighted				Weighted
			Weighted		Average		Weighted		Average
			Average		Remaining		Average		Remaining
Range of			Exercise		Contractual		Exercise		Contractual
Exercise Price		Options	Price		Life	Options	Price		Life
$	0.00 – $40.00	6,189,257	$	0.75	6 years	2,720,916	$	1.25	4 years
	41.00 – $70.00	6,221		52.07	2 years	6,221		52.07	2 years
	71.00 – $102.00	59,797		85.19	2 years	59,797		85.19	2 years

Summary of all warrant activity

A summary of all warrant activity for the Company for the years ended December 31, 2021 and 2020 is as follows:

	Number of	Weighted Average
	Warrants	Exercise Price
Balance at December 31,2019	18,714,999	$	3.24
Granted	—		—
Exercised	—		—
Forfeited	(714,286)		50.05
Balance at December 31,2020	18,000,713		0.69
Granted	—		—
Exercised	(11,655,747)		—
Forfeited	—		0.69
Balance at December 31,2021	6,344,966	$	0.69

Summary of all outstanding and exercisable warrants

				Weighted Average
		Warrants	Warrants	Remaining
Exercise Price		Outstanding	Exercisable	Contractual Life
$	0.69	6,344,252	6,344,252	0.99 years
	18.20	714	714	1.78 years
$	0.69	6,344,966	6,344,966	1.78 years