|6 Months Ended|
Jun. 30, 2022
Note 8 - Stockholders’ (Deficit)
The Company has 260,000,000 authorized shares of capital stock, consisting of shares of common stock, par value $0 , and shares of Preferred Stock, par value $0 per share.
On May 1, 2022, the Company issued 400,000.shares of its restricted common stock to employees in exchange for services at a fair value of $
During the six months ended June 30, 2022, employees exercised 6,934 for these options.options into shares of common stock. The Company received $
Common Stock Options
A summary of the Company’s options activity and related information follows:
Share-based compensation expense for options totaling $and $ was recognized in our results for the three months ended June 30, 2022 and 2021, respectively. Share-based compensation expense for options totaling $ and $ was recognized in our results for the six months ended June 30, 2022 and 2021, respectively.
The valuation methodology used to determine the fair value of the options issued during the year was the Black-Scholes option-pricing model. The Black-Scholes model requires the use of a number of assumptions including the volatility of the stock price, the average risk-free interest rate, and the weighted average expected life of the options.
The risk-free interest rate assumption is based upon observed interest rates on zero-coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the options.
Estimated volatility is a measure of the amount by which the Company’s stock price is expected to fluctuate each year during the expected life of the award. The Company’s calculation of estimated volatility is based on historical stock prices of the Company over a period equal to the expected life of the awards.
As of June 30, 2022, there was $of total unrecognized compensation expense related to unvested employee options granted under the Company’s share-based compensation plans that is expected to be recognized over a weighted average period of approximately years.
The weighted average fair value of options granted, and the assumptions used in the Black-Scholes model during the six months ended June 30, 2022, are set forth in the table below.
Share-based awards, restricted stock award (“RSAs”)
On March 31, 2022, the Board resolved that, the Company shall pay each member of the Board, compensation as a group amount to $40,375. The shares vest one year after issuance.
On June 30, 2022, the Board resolved that, the Company shall pay each member of the Board, compensation as a group amount to $6,175. The shares vest one year after issuance.
A summary of the activity related to RSAs for the six months ended June 30, 2022, is presented below:
Stock-based compensation for RSA’s has been recorded in the consolidated statements of operations and totaled $for the three and six months ended June 30, 2021.
No definition available.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef