• Filing Date: 2021-04-16
  • Form Type: 10-K/A
  • Description: Annual report (Amendment)
v3.21.1
E. STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Warrant activity
    Warrants     Weighted Average Exercise Price  
Outstanding at December 31, 2018     10,690,718     $ 2.45  
Exercised     (50,000 )     1.93  
Expired     (120,773 )     47.30  
Outstanding at December 31, 2019     10,519,945     $ 1.94  
Issued     11,310,480       0.98  
Exercised     (877,202 )     1.93  
Expired     (4,354,144 )     1.93  
Outstanding at December 31, 2020     16,599,079     $ 1.29  
Outstanding stock options
        Options Outstanding at December 31, 2020     Options Exercisable and Vested at December 31, 2020  
  Exercise Price     Number of Options     Weighted Average Remaining Contractual Life (Years)     Number of Options     Weighted Average Exercise Price  
  $ 0.66 to $6.23       396,500       8.2       30,500     $ 5.75  
  $ 10.60 to $41.40       32,500       6.1       32,500     $ 29.26  
  $ 54.40 to $96.40       20,751       4.5       20,751     $ 70.13  
  $ 113.00 to $1,188.00       1,397       3.0       1,397     $ 178.14  
             451,148        7.9        85,148      33.24  
Options vested and expected to vest
    Number of Option Shares     Weighted Average Exercise Price     Aggregate Intrinsic Value (1)     Weighted Average Remaining Contractual Life (Years)  
Vested     85,148     $ 33.24     $ 350       6.1  
Vested and expected to vest     410,888     $ 8.09     $ 207,747       7.8  

 

(1)

 

Amount represents the difference between the exercise price and $1.86, the closing price of Tenax Therapeutics’ stock on December 31, 2020, as reported on the Nasdaq Capital Market, for all in-the-money options outstanding.

 

Shares available for grant under the Plan
    Shares Available for Grant  
Balances, at December 31, 2018     100,000  
Additional shares reserved     600,000  
Options granted     (2,500 )
Balances, at December 31, 2019     697,500  
Options granted     (341,000 )
Balances, at December 31, 2020     356,500  
Stock options activity
    Outstanding Options        
    Number of Shares     Weighted Average Exercise Price     Aggregate Intrinsic Value  
Balances at December 31, 2018     50,000     $ 6.10        
Options granted     2,500     $ 1.72          
Balances at December 31, 2019     52,500     $ 5.89          
Options granted     341,000     $ 1.18          
Balances at December 31, 2020     393,500     $ 1.81     $ 233,380 (1)
Fair value assumptions
    For the year ended December 31,  
    2020     2019  
Risk-free interest rate (weighted average)     1.02%       2.39%  
Expected volatility (weighted average)     97.63%       106.74%  
Expected term (in years)     7       7  
Expected dividend yield     0.00%       0.00%  
Outstanding stock options under the 1999 plan
    Outstanding Options        
    Number of Shares     Weighted Average Exercise Price     Aggregate Intrinsic Value  
Balances at December 31, 2018     191,735     $ 93.72          
Options cancelled     (29 )   $ 2,203.00          
Balances at December 31, 2019     191,706     $ 93.40          
Options cancelled     (134,058 )   $ 113.64          
Balances at December 31, 2020     57,648     $ 46.34     $ - (1)

 

(1)

 

Amount represents the difference between the exercise price and $1.86, the closing price of Tenax Therapeutics’ stock on December 31, 2020, as reported on the Nasdaq Capital Market, for all in-the-money options outstanding.

 

Restricted stock grants
    Outstanding Restricted Stock Grants  
    Number of Shares     Weighted Average Grant Date Fair Value  
Balances, at December 31, 2018     19,914     $ 6.29  
Restricted stock vested     (12,195 )   $ 6.28  
Restricted stock cancelled     (7,719 )   $ 6.27  
Balances at December 31, 2019     -     $ -