Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2018
Stockholders Equity Note [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity under the plans during the years ended December 31, 2018 and 2017 are as follows:

 

 

 

Stock Options Outstanding

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Life (in years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at January 1, 2017

 

 

2,271,824

 

 

$

0.72

 

 

5.16

 

 

$

795,890

 

Granted

 

 

360,000

 

 

$

1.95

 

 

 

-

 

 

 

-

 

Forfeited / Cancelled

 

 

(112,160

)

 

$

0.75

 

 

 

-

 

 

 

-

 

Exercised

 

 

(140,220

)

 

$

0.75

 

 

 

-

 

 

 

-

 

Outstanding at December 31, 2017

 

 

2,379,444

 

 

$

0.82

 

 

5.05

 

 

 

2,569,047

 

Granted

 

 

295,000

 

 

$

1.61

 

 

 

-

 

 

 

-

 

Forfeited / Cancelled

 

 

(194,582

)

 

$

0.88

 

 

 

-

 

 

 

-

 

Exercised

 

 

(511,115

)

 

$

0.85

 

 

 

-

 

 

 

-

 

Outstanding at December 31, 2018

 

 

1,968,747

 

 

$

1.14

 

 

 

5.04

 

 

$

1,806,411

 

Exercisable at December 31, 2018

 

 

1,640,370

 

 

$

0.85

 

 

 

4.30

 

 

$

1,783,460

 

Vested and expected to vest at December 31, 2018

 

 

1,960,116

 

 

$

1.13

 

 

 

5.02

 

 

$

1,806,305

 

 
Summary of Common Stock Options Outstanding

The following table summarizes information about common stock options outstanding as of December 31, 2018:

 

 

 

 

 

Stock Options Outstanding

 

 

Stock Options Exercisable

 

Plan

 

Exercise Price Range

 

Number of

Shares

Outstanding

 

 

Weighted

Average

Remaining

Contractual

Life (in Years)

 

 

Weighted

Average

Exercise

Price

 

 

Number of

Shares

Exercisable

 

 

Weighted

Average

Remaining

Contractual

Life (in Years)

 

 

Weighted

Average

Exercise

Price

 

2000

 

$0.75

 

 

175,000

 

 

 

0.37

 

 

$

0.65

 

 

 

175,000

 

 

 

0.37

 

 

$

0.65

 

2011

 

$0.46-$0.84

 

 

994,289

 

 

 

3.56

 

 

$

0.58

 

 

 

994,289

 

 

 

3.56

 

 

$

0.58

 

2015

 

$1.08-$1.95

 

 

674,458

 

 

 

7.58

 

 

$

1.61

 

 

 

471,081

 

 

 

7.31

 

 

$

1.51

 

2017

 

$2.90-$4.09

 

 

125,000

 

 

 

9.61

 

 

$

3.77

 

 

 

-

 

 

 

9.61

 

 

$

3.77

 

 

 

 

 

 

1,968,747

 

 

 

 

 

 

 

 

 

 

 

1,640,370

 

 

 

 

 

 

 

 

 

 
Schedule of Assumption to Calculate Weighted Average Grant Date Fair Value of Options Grant

The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company:

 

 

 

Years Ended December 31,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

5.4 - 5.9

 

 

5.3 - 5.9

 

Expected volatility

 

45.9 - 47.0 %

 

 

43.5 - 43.8%

 

Risk-free interest rate

 

2.70 - 3.00%

 

 

1.86  - 2.07%

 

Weighted average grant date fair value per share

 

$

1.61

 

 

$

0.85

 

Grant date fair value of options vested

 

$

536,666

 

 

$

1,546,692

 

Intrinsic value of options exercised

 

$

559,433

 

 

$

946,134

 

 
Schedule of Restricted Stock Unit Activity

The Company’s restricted stock unit activity for the year ended December 31, 2018 is as follows:

 

 

 

Restricted Stock Units

 

 

 

Number of

Shares

 

 

Weighted

Average Grant

Date Fair Value

 

Unvested at January 1, 2018

 

 

-

 

 

$

-

 

Granted

 

 

225,000

 

 

$

4.13

 

Vested

 

 

(44,165

)

 

$

(4.14

)

Cancelled

 

 

(7,500

)

 

$

(4.17

)

Unvested at December 31, 2018

 

 

173,335

 

 

$

4.13

 

 
Summary of Stock-Based Compensation Expense

Stock-based compensation expense for the years ended December 31, 2018 and 2017 was comprised of the following:

 

 

 

2018

 

 

2017

 

Stock-based compensation classified as:

 

 

 

 

 

 

 

 

General and administrative

 

$

432,734

 

 

$

111,681

 

Production

 

 

20,263

 

 

 

6,033

 

Marketing and selling

 

 

37,120

 

 

 

25,152

 

Research and development

 

 

37,218

 

 

 

17,196

 

Total

 

$

527,335

 

 

$

160,062

 

 
Schedule of Warrant Activity

The following table summarizes the Company’s warrant activity during the years ended December 31, 2018 and 2017:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

Warrants outstanding – January 1, 2017

 

 

198,996

 

 

$

1.11

 

Warrants granted

 

 

-

 

 

 

-

 

Warrants exercised

 

 

-

 

 

 

-

 

Warrants outstanding – December 31, 2017

 

 

198,996

 

 

$

1.11

 

Warrants granted

 

 

380,000

 

 

 

6.00

 

Warrants exercised

 

 

-

 

 

 

-

 

Warrants outstanding – December 31, 2018

 

 

578,996

 

 

$

4.32