Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.2
Stock-Based Compensation
 3 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

 

Note 8. Stock-Based Compensation

 

Stock-based compensation expense is as follows: 

           
    Three Months Ended June 30,  
    2022     2021  
Cost of revenues   $ –     $ –  
Research and development     –       –  
Selling, general and administrative     214,000       59,000  
Total stock-based compensation   $ 214,000     $ 59,000  

 

At June 30, 2022, there were unrecognized compensation costs of $1,037,000 related to stock options which is expected to be recognized over a weighted-average amortization period of 1.88 years.

  

Stock options award activity is as follows: 

           
    Number of
Shares		     Weighted-
Average
Exercise Price		  
Outstanding at April 1, 2022     466,234     $ 12.09  
Options granted     –       –  
Options exercised     –       –  
Options forfeited     (18,166 )     4.73  
Options expired     –       –  
Outstanding at June 30, 2022     448,068     $ 12.39  
Exercisable at June 30, 2022     115,144     $ 32.56  

 

 

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 $8.60 per share at June 30, 2022.

 

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.