Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

v3.22.1
Stockholders’ Equity
3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Stockholders’ Equity

Note 15 — Stockholders’ Equity

 

Common Stock

 

The Company is authorized to issue 250,000,000 shares of common stock. As of March 31, 2022 and December 31, 2021, there were 188,052,593 and 150,118,024 shares of common stock issued and outstanding, respectively.

During the three months ended March 31, 2022, warrant shares of 36,894,569 were exercised and the Company received proceeds of $111,029,493.

 

Preferred Stock

 

The Company does not currently have any shares of preferred stock authorized for issuance

 

Stock-Based Compensation

 

On September 4, 2021, the Company’s board of directors approved the Vinco Ventures, Inc. 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan provides for the issuance of up to 9,000,000 (3,267,040 remaining as of March 31, 2022) shares of Common Stock to help align the interests of management and our stockholders and reward our executive officers for improved Company performance. Stock incentive awards under the 2021 Plan can be in the form of stock options, restricted stock units, performance awards and restricted stock that are made to employees, directors and service providers. Awards are subject to forfeiture until vesting conditions have been satisfied under the terms of the award. The exercise price of stock options is equal to the fair market value of the underlying Common Stock on the date of grant.

 

The following table summarizes stock option awards outstanding as of March 31, 2022:

 

    Shares    

Weighted

Average

Exercise

Price

   

Remaining

Contractual

Life in

Years

   

Aggregate

Intrinsic
Value

 
Balance, December 31, 2021     80,000     $ 7.01       1.7       -  
Granted     -       -       -       -  
Balance, March 31, 2022     80,000     $ 7.01       1.4       -  
Exercisable, March 31, 2022     80,000     $ 7.01       1.4       -  

 

As of March 31, 2022, there were no unvested options to purchase shares of the Common Stock and there was no unrecognized equity-based compensation expense that the Company expected to recognize over a remaining weighted-average period.

 

 

Net Earnings or Loss per Share

 

Basic net (loss) income per common share is computed by dividing net (loss) income by the weighted average number of vested common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number vested of common shares, plus the net impact of common shares (computed using the treasury stock method), if dilutive, resulting from the exercise of dilutive securities. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. As of March 31, 2022 and 2021, the Company excluded the common stock equivalents summarized below, which entitle the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive.

 

    As of  
    March 31, 2022     March 31, 2021  
             
Shares reserved in exchange for the cancellation of certain non-voting membership interest in EVNT Platform, LLC     4,000,000       -  
Options     80,000       80,000  
Convertible shares under notes payable     28,271,954       2,647,587  
Series B Convertible Stock     -       764,618  
Warrants     160,701,887       37,102,534  
Shares to be issued     -       1,608,355  
Total     193,053,841       42,203,094