Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.21.2
Stockholders' Equity
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Stockholders' Equity

Note 8. Stockholders’ Equity

Stock Options

The 2015 Omnibus Incentive Plan provides for the issuance of stock options, stock appreciation rights, performance shares,

performance units, restricted stock, restricted stock units, shares of our common stock, dividend equivalent units, incentive cash

awards or other awards based on our common stock. Awards may be granted alone or in addition to, in tandem with, or (subject to the

2015 Omnibus Incentive Plan’s prohibitions on repricing) in substitution for any other award (or any other award granted under

another plan of ours or of any of our affiliates).

 

The following is a summary of the stock option plan activity during the Nine Months ended September 30, 2021 and 2020:

 

 

 

2021

 

 

2020

 

 

 

Number of

 

 

Weighted Average

 

 

Number of

 

 

Weighted Average

 

 

 

Options

 

 

Exercise Price

 

 

Options

 

 

Exercise Price

 

Options Outstanding at Beginning of the year

 

 

3,860

 

 

$

302.55

 

 

 

3,860

 

 

$

302.55

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Adjustment

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding at September 30,

 

 

3,860

 

 

$

302.55

 

 

 

3,860

 

 

$

302.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Exercisable at September 30,

 

 

3,860

 

 

$

302.55

 

 

 

3,027

 

 

$

310.10

 

 

Compensation expense recognized from the vesting of stock options was approximately $ 0 and $10,200 for the Nine Months ended September 30, 2021 and 2020. There was no unrecognized compensation cost associated with unvested stock options as of September 30, 2021.

 

The aggregate intrinsic value of the outstanding common stock options as of September 30, 2021 and December 31, 2020 was approximately $0 and $0 respectively.

 

 

Warrants

 

The following is a summary of the warrant activity during the Nine Months ended September 30, 2021 and 2020:

 

 

 

2021

 

 

2020

 

 

 

Number of

 

 

Weighted Average

 

 

Number of

 

 

Weighted Average

 

 

 

Warrants

 

 

Exercise Price

 

 

Warrants

 

 

Exercise Price

 

Warrants Outstanding at Beginning of the year

 

 

2,718,012

 

 

$

4.20

 

 

 

791,857

 

 

$

21.25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

-

 

 

 

-

 

 

 

2,240,000

 

 

 

4.50

 

Exercised

 

 

(2,326,112)

 

 

 

4.08

 

 

 

(275,540)

 

 

 

3.48

 

Adjustment

 

 

-

 

 

 

-

 

 

 

126,694

 

 

 

1.70

 

Adjustment

 

 

-

 

 

 

-

 

 

 

75,000

 

 

 

3.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants Outstanding at September 30,

 

 

391,900

 

 

$

4.35

 

 

 

2,958,011

 

 

$

8.93

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During the Nine Months ended September 30, 2021, the Company received approximately $9.5 million upon the exercise by warrant holders of warrants for approximately 2.3 million shares.  There was also a cashless warrant exercise for approximately 129,800 shares on January 29, 2021. The aggregate intrinsic value of the outstanding common stock warrants as of September 30, 2021 and December 31, 2020 was approximately $21,200 and $256,400 respectively.