Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.22.2.2
Stock Options
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Options

Note 10. Stock Options

 

A summary of options granted and outstanding is presented below:

 

    June 30, 2022  
    Shares    

Weighted

Average

Exercise

Price

  
Outstanding at beginning of period     1,137,479     $ 5.18  
Options granted     267,500       1.21  
Outstanding at end of period     1,404,979     $ 4.42  
                 
Exercisable at end of period     1,070,910     $ 4.55  

 

During the six months ended June 30 2022, the Company issued 267,500 stock options. As of June 30, 2022 there was $781,386 of unrecognized stock-based compensation related to unvested stock options, which is expected to be recognized over a weighted-average period of 29 months.

 

The following table summarizes information about options outstanding at June 30, 2022:

 

Exercise

Prices

    

Shares

Outstanding

    

Weighted Average

Remaining

Contractual Life

    

Shares

Exercisable

  
$ 1.21       267,500       4.80       103,946  
$ 1.75       97,143     $ .75       97,143  
$ 2.80       155,714     $ 1.00       155,714  
$ 4.38       344,286     $ 2.75       332,624  
$ 7.00       540,336     $ 3.75       388,483  

 

For the three months ended June 30, 2022 and 2021, the Company recognized stock-based compensation expense of $365,606, of which $325,736 and $39,870 was recorded in general and administrative and research and development expenses, respectively and $104,766 in 2021, of which $94,454 and $10,312 was recorded in general and administrative and research and development expenses, respectively.

 

For the six months ended June 30, 2022 and 2021, the Company recognized stock-based compensation expense of $589,553, of which $539,371 and $50,182 was recorded in general and administrative and research and development expenses, respectively and $293,983 in 2021, of which $232,107 and $61,876 was recorded in general and administrative and research and development expenses, respectively. Further, for the six months ended June 30, 2022, the Company recorded stock-based charges relating to consideration for purchase of machinery of $63,512 (See Note 4) and $40,901 relating to an Acquisition. (See Note 5)

 

 

SHARPS TECHNOLOGY, INC.

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2022 AND 2021

(Unaudited)