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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights
As of March 31, 2023 and 2022, we had the following outstanding January 2020 Warrants:
As of March 31, 2023
As of March 31, 2022
Number of Underlying SharesExercise PriceExpiration
Jan. 2020 Investor Warrants187,734187,734$3.3700January 13, 2025
Jan. 2020 Placement Agent Warrants41,68041,680
$4.9940
January 13, 2025
229,414229,414
Summary of Stock-based Compensation Expense The following table summarizes stock-based compensation expense and the impact it had on operations for the periods presented (in thousands):
Three months ended
March 31,
20232022
Cost of sales$— $
Product development
Selling, general, and administrative22 37 
Total stock-based compensation$26 $44 
Schedule of Valuation Assumptions Estimates utilized in the calculation include the expected life of the option, risk-free interest rate, and expected volatility, and are further detailed below. Note that there were no grants made during the three months ended March 31, 2023.
Three months ended
March 31,
20232022
Fair value of options issuedNA$1.17 
Exercise priceNA$1.48 
Expected life of options (in years)NA6.1
Risk-free interest rateNA1.9 %
Expected volatilityNA99.2 %
Dividend yieldNA0.0 %
Summary of Option Activity A summary of option activity under all outstanding stock incentive plans for the three months ended March 31, 2023 is presented as follows:
Number of
Options
Weighted
Average
Exercise
Price Per
Share
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 2022330,808 $1.97 
Granted— — 
Canceled/forfeited(65,903)2.88 
Balance at March 31, 2023264,905 $1.75 8.0
Vested and expected to vest at March 31, 2023218,307 $1.87 7.8
Exercisable at March 31, 202366,734 $3.10 4.6
Summary of Restricted Stock Activity A summary of restricted stock unit activity under all outstanding stock incentive plans for the three months ended March 31, 2023 is presented as follows:
Restricted
Stock Units
Weighted
Average
Grant
Date
Fair Value
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 202211,600 $1.59 
Granted— — 
Balance at March 31, 202311,600 $1.59 1.4