Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.21.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of fair value of the stock options granted Black-Scholes option valuation model

We have recognized tax benefits associated with stock-based compensation of $43,067 and $15,598 for the three months ended March 31, 2021 and 2020, respectively.

 

    March 31,  
    2021   2020  
               
Dividend yield     0.00%      
Expected Volatility     74.01%-74.28%      
Weighted-average volatility          
Expected dividends          
Expected term (in years)     10      
Risk-free rate     1.2-1.62%      
Schedule of stock option plan

The following table summarizes the status of the Plan with respect to time based stock options:

 

    Three Months Ended March 31,  
    2021   2020  
    Shares   Weighted
Average
Exercise
Price
  Shares   Weighted
Average
Exercise
Price
 
                   
Outstanding at January 1   2,922,494   $ 2.46     3,647,000   $ 1.32  
Granted   1,250,000   $ 3.94       $  
Exercised   1,000,000   $ 1.23     175,000   $ 0.49  
Forfeited     $       $  
Outstanding at March 31   3,172,494   $ 3.43     3,472,000   $ 1.36  
Options exercisable at March 31   803,119   $ 2.09     1,306,635   $ 1.05  
Weighted average fair value of options granted during the period     $ 3.06       $  
Stock-based compensation expense       $ 1,086,681         $ 175,239  
Schedule of information pertaining to options outstanding

 

The following table presents information pertaining to options outstanding at March 31, 2021:

 

Range of Exercise Price   Number
Outstanding
  Weighted
Average
Remaining
Contractual
Life
  Weighted
Average
Exercise
Price
  Number
Exercisable
  Weighted
Average
Exercise
Price
 
                           
$0.50-$9.76   3,172,494   8.1 years   $ 3.43   803,119   $ 2.09  
Schedule of performance base share options

Treasury issues with a term equal to the expected life of the option being valued.

 

    March 31,  
    2021   2020  
               
Dividend yield          
Expected Volatility          
Weighted-average volatility          
Expected dividends          
Expected term (in years)          
Risk-free rate          
Schedule of performance base options outstanding

The following table summarizes the status of the Plan with respect to performance based stock options:

 

    Three months Ended March 31,  
    2021   2020  
    Shares   Weighted
Average
Exercise
Price
  Shares   Weighted
Average
Exercise
Price
 
                   
Outstanding at January 1   1,000,000   $ 1.70     1,000,000   $ 1.70  
Granted     $       $  
Exercised     $       $  
Forfeited   1,000,000   $ 1.70       $  
Outstanding at March 31     $     1,000,000   $ 1.70  
Options exercisable at March 31     $       $  
Weighted average fair value of options granted during the period     $       $  
Stock-based compensation expense     $ (408,747 )     $ 125,727  
Schedule of information pertaining to performance base options outstanding

The following table presents information pertaining to performance-based options outstanding at March 31, 2021:

 

Range of Exercise Price   Number
Outstanding
  Weighted
Average
Remaining
Contractual
Life
  Weighted
Average
Exercise
Price
  Number
Exercisable
  Weighted
Average
Exercise
Price
 
                           
      $     $