Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Stock-Based Compensation

Schedule of assumptions used for awards

	2022
Exercise price	$	2.60
Expected dividends		0	%
Expected volatility		95	%
Risk free interest rate		2.65	%
Expected life of option (years)		4.3

Summary of stock option activity

A summary of stock option activity for the six months ended June 30, 2022 and the year ended December 31, 2021 is as follows:

		Weighted		Weighted Average	Aggregate
		Average Exercise		Remaining	Intrinsic
	Options	Price		Contractual Life	Value
Balance - December 31, 2020	399,742	$	23.50	6.09 years	$	—
Granted	226,000		3.30
Exercised	—		—
Expired	(215)		451.50
Forfeited	—		—
Balance - December 31, 2021	625,527		16.10	5.58 years		—
Granted	3,000		2.60
Exercised	—		—
Expired	(6,651)		39.70
Forfeited	(14,542)		3.60
Balance - June 30, 2022 - outstanding	607,334	$	16.07	5.07 years	$	—
Balance - June 30, 2022 - exercisable	359,417	$	24.67	4.42 years	$	—
Grant date fair value of options granted – three months ended June 30, 2022		$	5,411
Weighted average grant date fair value – three months ended June 30, 2022		$	1.80
Grant date fair value of options granted – year ended December 31, 2021		$	50,100
Weighted average grant date fair value – year ended December 31, 2021		$	2.20