Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.21.2
Stock-Based Compensation
 3 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation

 

Note 9. Stock-Based Compensation

 

Stock-based compensation expense is as follows: 

           
    Three Months Ended June 30,  
    2021     2020  
Cost of revenues   $ –     $ (21,000 )
Research and development     –       (14,000 )
Selling, general and administrative     59,000       98,000  
Total stock-based compensation   $ 59,000     $ 63,000  

 

At June 30, 2021, there were unrecognized compensation costs of $566,752 related to stock options which is expected to be recognized over a weighted-average amortization period of 2.52 years.

 

At June 30, 2021, there were unrecognized compensation costs of $2,522 related to restricted stock which is expected to be recognized over a weighted-average amortization period of 0.22 years.

 

Stock options award activity is as follows: 

           
    Number of
Shares		     Weighted-
Average
Exercise Price		  
Outstanding at April 1, 2021     267,569     $ 25.16  
Options granted     –       –  
Options exercised     –       –  
Options forfeited     (250 )     8.03  
Options expired     (13,268 )     87.48  
Outstanding at June 30, 2021     254,041     $ 21.92  
Exercisable at June 30, 2021     130,970     $ 34.98  

 

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the underlying stock options and the fair value of the Company’s common stock, or $7.34 per share at June 30, 2021.

 

Restricted stock award activity is as follows: 

           
   

Number of

Shares

    

Weighted

Average Award

Date Fair Value

per Share

  
Unvested restricted stock awards outstanding at April 1, 2021     833     $ 13.68  
Restricted stock awards granted     –       –  
Restricted stock awards vested     –       –  
Restricted stock awards forfeited     –       –  
Unvested restricted stock awards outstanding at June 30, 2021     833     $ 13.68  

 

The Company did not capitalize any cost associated with stock-based compensation.

 

The Company issues new shares of common stock upon exercise of stock options or release of restricted stock awards.

 

The Company issues new shares of common stock upon exercise of stock-based awards.