Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.21.2
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
    June 30,  
    2021   2020  
               
Dividend yield     0.00%     0.00%  
Expected Volatility     74.01%-74.28%     62.1%  
Weighted-average volatility          
Expected dividends          
Expected term (in years)     10     10  
Risk-free rate     1.20%-1.62%     0.63%  
The following table summarizes the status of the Plan with respect to time based stock options:

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

 

    Six Months Ended June 30,  
    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     60,000   $ 9.76  
Exercised   1,000,000   $ 1.23     722,000   $ 0.58  
Forfeited   100,000   $ 3.94     200,000   $ 2.09  
Outstanding at June 30   3,072,494   $ 3.41     2,785,000   $ 1.64  
Options exercisable at June 30   871,244   $ 2.18     812,760   $ 1.37  
Weighted average fair value of options granted during the period     $ 3.06       $ 6.68  
Stock-based compensation expense     $ 1,528,522       $ 290,991  
The following table presents information pertaining to options outstanding at June 30, 2021:

The following table presents information pertaining to options outstanding at June 30, 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   3,072,494   7.7 years   $ 3.41   871,244   $ 2.18  
The following table summarizes the status of the Plan with respect to performance-based stock options:

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

 

    Six Months Ended June 30,  
    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 June 30     $   1,000,000   $ 1.70  
Options exercisable at June 30     $     $  
Weighted average fair value of options granted during the period     $     $  
Stock-based compensation expense     $ (408,747 )   $ 373,826  
The following table summarizes the activities for our unvested restricted stock awards for the six months ended June 30, 2021, and 2020.

The following table summarizes the activities for our unvested restricted stock awards for the six months ended June 30, 2021, and 2020.

 

    Six Months Ended June 30,  
    2021   2020  
    Shares   Weighted
Average
Grant-Date Fair Value
  Shares   Weighted
Average
Grant-Date Fair Value
 
                   
Unvested at January 1     $     $  
Granted   1,000,000   $ 3.01     $  
Vested     $     $  
Forfeited/canceled     $     $  
Unvested at June 30   1,000,000   $ 3.01     $