Stockholders' Equity Note Disclosure [Text Block] | Note 4. We have granted share-based compensation awards to employees, board members and service providers. Awards may ten September 30, 2020, 7.1 We typically record share-based compensation expense on a straight-line basis over the requisite service period. Share-based compensation expenses included in our condensed consolidated statements of operations and comprehensive loss are as follows: Three Months Ended September 30, 2020 2019 Research and development expenses $ 26,251 $ – General and administrative expenses 180,571 294,600 Total $ 206,822 $ 294,600 Nine Months Ended September 30, 2020 2019 Research and development expenses $ 26,251 $ 200,337 General and administrative expenses 497,710 561,007 Total $ 523,961 $ 761,344 Stock Options A summary of stock option activity and related information for the nine September 30, 2020 Number of Options Weighted-Average Weighted-Average Aggregate Outstanding at January 1, 2020 271,660 $ 61.83 7.8 $ – Granted 1,686,466 $ 0.62 Exercised – $ – $ – Forfeited (157,204 ) $ 15.53 Outstanding at September 30, 2020 1,800,922 $ 8.55 9.3 $ – Exercisable at September 30, 2020 710,884 $ 20.63 8.9 $ – Range of Exercise Prices Number of Options Weighted-Average Weighted-Average Aggregate $0.62 1,686,466 $ 0.62 9.5 $ – $5.90 - $6.00 45,378 $ 5.99 8.8 – $7.20 - $8.80 6,380 $ 8.69 8.4 – $22.20 - $80.60 24,488 $ 31.15 4.8 – $107.40 - $1,102.40 38,210 $ 347.18 2.0 – 1,800,922 $ 8.55 9.3 $ – The Company uses the Black-Scholes option pricing model for “plain vanilla” options and other pricing models as appropriate to calculate the fair value of options. The Company generally uses the “simplified method” to estimate expected life. Significant assumptions used in these models include: Nine Months Ended September 30, 2020 2019 Annual dividend - - Expected life (in years) 4.0 - 5.2 4.8 - 5.5 Risk free interest rate 0.2% - 0.3% 1.8% - 2.5% Expected volatility 110% - 111% 97% - 115% Options granted in the nine September 30, 2020 2019, $0.52 $3.45 Unrecognized compensation cost for unvested stock option awards outstanding at September 30, 2020 $587,000 2.5 In 2019, $102,000 nine September 30, 2019. RSUs We have granted restricted stock units (RSUs) to certain employees and board members that entitle the holders to receive shares of our common stock upon vesting and subject to certain restrictions regarding the exercise of the RSUs. The grant date fair value of RSUs is based upon the market price of the underlying common stock on the date of grant. We granted 24,000 4,904 nine September 30, 2020 2019, RSUs vesting in the nine September 30, 2020 2019 $23,400 $6,400, At September 30, 2020, 28,904 $1.58 $16,800. September 30, 2020 $8,000 0.5 In the nine September 30, 2020, 563 $300 nine September 30, 2019, 1,126 $10,400 Restricted Stock We have granted restricted stock to certain board members that vest quarterly over the grant year. The grant date fair value of the restricted stock is based upon the market price of the common stock on the date of grant. No nine September 30, 2020. nine September 30, 2019, 15,688 $5.95. Restricted stock vesting in the nine September 30, 2020, $5.90 $2,600. nine September 30, 2019, $9.73 $14,500. No September 30, 2020. Stock Purchase Warrants. We have issued warrants to purchase common stock to certain officers, directors, stockholders and service providers as well as in conjunction with debt and equity offerings and at various times replacement warrants were issued as an inducement for warrant exercises. In May 2016 August 2017, 87,309 112,500 September 30, 2020, 149,136 3 $0.90 May 2020 In January 2020, 5,555,554 $1.36 $7.6 $2.70 $1.36 5,555,554 $1.23 2,777,777 two 2,777,777 five 444,445 $1.70 five We recognized an expense in the accompanying condensed consolidated statement of operations for the nine September 30, 2020 $5.6 In conjunction with our May 2020 400,000 $1.25 five A summary of outstanding warrants at September 30, 2020 Range of Exercise Prices Number of Range of Expiration Dates $0.90 - $1.25 3,233,407 May 2021 - May 2025 $1.70 - $3.38 1,493,999 December 2020 - January 2025 $6.00 - $782.60 199,337 October 2020 - April 2024 4,926,743 Preferred and Common Stock We have outstanding 200,000 4.5% December 2016. 4.5% 38,873 April July 2019, 800,000 4.5% 155,496 In May 2020, 5,000,000 $1.00 $5.0 $4.4 3 no. 333 218608 400,000 $1.25 5 | Note 4. We have granted share-based compensation awards to employees, board members and service providers. In addition, we have issued warrants to purchase common stock in conjunction with debt and equity offerings. Awards may ten December 31, 2019, 7,441,532 We record share-based compensation expense on a straight-line basis over the requisite service period. Share-based compensation expense included in the statements of operations was as follows: Year Ended December 31, 2019 2018 Research and development costs $ 200,337 $ 133,334 General and administrative expenses 680,452 500,748 Total $ 880,789 $ 634,082 Stock Options A summary of stock option activity and related information for the year ended December 31, 2019 Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2019 81,674 $ 215.60 5.1 $ - Granted 228,183 $ 7.78 $ - Exercised - - Forfeited/Expired (38,197 ) $ 67.90 Outstanding at December 31, 2019 271,660 $ 61.83 7.8 $ - Exercisable at December 31, 2019 207,813 $ 78.30 7.4 $ - Range of Exercise Prices Number of Options Outstanding Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value $5.90 - $6.00 55,484 $ 5.99 9.5 $ - $7.20 - $8.80 146,972 $ 8.51 9.0 - $22.20 - $99.20 28,501 $ 31.63 5.7 - $107.40 - $1,102.41 40,703 $ 351.63 2.8 - 271,660 $ 61.83 7.8 $ - The Company uses the Black-Scholes option pricing model for “plain vanilla” options and other pricing models as appropriate to calculate the fair value of options. Significant assumptions used in these models include: Year Ended December 31, 2019 2018 Annual dividend - - Expected life (in years) 4.8 - 5.5 2.5 - 5.3 Risk free interest rate 1.8% - 2.5% 2.5% - 2.8% Expected volatility 97% - 115% 97% - 113% Options granted in the years ended December 31, 2019 2018 $3.45 $9.40, December 31, 2019 2018 $671,100 $205,000, Unrecognized compensation cost for unvested stock option awards outstanding at December 31, 2019 $155,000 0.6 In the three March 31, 2019, $102,000 three March 31, 2019. RSUs We have granted restricted stock units (RSU's) that entitle the holders to receive shares of our common stock upon vesting and subject to certain restrictions regarding the exercise of the RSU's and the holders' ability to transfer the shares received upon exercise. The fair value of RSU's granted is based upon the market price of the underlying common stock as if they were vested and issued on the date of grant. A summary of our RSU activity for the year ended December 31, 2019 Number of RSU's Weighted-Average Grant Date Fair Value Outstanding at January 1, 2019 2,816 $ 64.80 Granted 4,904 $ 5.90 Exercised and converted to common shares (1,127 ) $ 22.20 Forfeited (1,126 ) $ 22.20 Outstanding at December 31, 2019 5,467 $ 29.62 Exercisable at December 31, 2019 2,925 $ 50.23 The total intrinsic value of the outstanding RSU's at December 31, 2019 $5,400. December 31, 2019 2018, $13,900 $50,000, December 31, 2019 $10,400. No December 31, 2018. Unrecognized compensation cost for unvested RSU's outstanding at December 31, 2019 $15,000 0.5 Restricted Stock We have granted restricted stock to certain board members. A summary of our restricted stock activity for the year ended December 31, 2019 Shares of Restricted Stock Weighted-Average Grant Date Fair Value Outstanding at January 1, 2019 1,127 $ 22.20 Granted 15,689 $ 5.95 Vested (8,835 ) $ 8.03 Forfeited - $ - Outstanding at December 31, 2019 7,981 $ 5.95 The December 31, 2019 $7,900. December 31, 2019 $18,500. Unrecognized compensation cost for unvested restricted stock outstanding at December 31, 2019 $47,500 0.5 Stock Purchase Warrants We have issued warrants to purchase common stock to certain officers, directors, stockholders and service providers as well as in conjunction with debt and equity offerings and at various times replacement warrants were issued as an inducement for warrant exercises. In May 2016 August 2017, 87,309 112,500 December 31, 2019, 149,136 3 In February 2019, 25,000 third $6.00, January 2024 $3.80 25% 75% September 30, 2019. no 2.5 2.5% 110%. In July 2019, 3,194,443 $2.70 December 31, 2020; ( 3,194,443 $2.70 5 2,361,462 $0.0001 no December 31, 2019, $200 In connection with the July 222,223 $3.375 5 A summary of outstanding warrants at December 31, 2019 Range of Exercise Prices Number of Warrants Outstanding Range of Expiration Dates $2.19 - $2.70 6,538,035 December 2020 - August 2024 $3.38 - $17.50 406,223 October 2023 - July 2024 $22.20 - $782.60 24,650 March 2020 - July 2023 6,968,908 In January 2020, 5,555,554 $1.36 $7.6 $2.70 $1.36 5,555,554 $1.23 2,777,777 two 2,777,777 five 444,445 $1.70 five Preferred and Common Stock We have outstanding 200,000 4.5% December 2016. 4.5% 38,873 April July 2019, 800,000 4.5% 155,496 In July 2019, 416,315 2,361,462 $2.70 $7.5 one one one one one one $0.0001 $2.70 December 31, 2020 five $6.6 416,666 416,666 1 no. 333 232273 |