Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.22.1
Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2021
Equity Incentive Plan  
Schedule of stock option activity

 

 

Number of Options Outstanding

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term (in Years)

 

Balance at December 31, 2020

 

 

-

 

 

$ -

 

 

 

-

 

Options granted

 

 

523,199

 

 

 

5.84

 

 

 

8.8

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

-

 

 

 

-

 

 

 

-

 

Balance at December 31, 2021

 

 

523,199

 

 

$ 5.84

 

 

 

8.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at December 31, 2021

 

 

263,720

 

 

$ 5.83

 

 

 

9.0

 

Weighted-average assumptions used for the stock option grants

 

 

Year Ended December 31, 2021

 

Grant date fair value

 

$ 4.87

 

Risk-free interest rate

 

 

0.92 %

Dividend yield

 

 

0.00 %

Expected life in years

 

 

5.7

 

Expected volatility

 

 

122 %
Schedule of stock-based compensation expense

 

 

Year Ended December 31, 2021

 

Research and development

 

$ 354,201

 

General and administrative

 

 

1,551,207

 

Total stock-based compensation

 

 

1,905,408