STOCK-BASED COMPENSATION (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of time based stock options |
Schedule of time based stock options
| |
|
September 30, |
|
| |
|
2022 |
|
2021 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
0.00% |
|
| Expected Volatility |
|
|
65.9% - 77.5% |
|
|
74.01% - 76.77% |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
10 |
|
|
10 |
|
| Risk-free rate |
|
|
1.81% - 2.99% |
|
|
1.20% - 1.62% |
|
|
| Schedule of status of time based stock options |
The following table summarizes the status of the 2015 Plan with respect
to time based stock options:
Schedule of status of time based stock options
| |
|
Nine Months Ended September 30, |
|
| |
|
2022 |
|
2021 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
3,672,500 |
|
$ |
3.42 |
|
|
2,922,494 |
|
$ |
2.46 |
|
| Granted |
|
295,000 |
|
$ |
2.70 |
|
|
1,650,000 |
|
$ |
3.75 |
|
| Exercised |
|
831,250 |
|
$ |
1.57 |
|
|
1,000,000 |
|
$ |
1.23 |
|
| Forfeited |
|
486,250 |
|
$ |
2.73 |
|
|
187,494 |
|
$ |
3.36 |
|
| Outstanding at September 30 |
|
2,650,000 |
|
$ |
4.05 |
|
|
3,385,000 |
|
$ |
3.39 |
|
| Options exercisable at September 30 |
|
825,000 |
|
$ |
4.41 |
|
|
1,005,625 |
|
$ |
2.65 |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
2.10 |
|
|
— |
|
$ |
2.93 |
|
| Stock-based compensation expense |
|
— |
|
$ |
1,465,567 |
|
|
— |
|
$ |
1,934,935 |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information pertaining to options outstanding
at September 30, 2022:
Schedule of information pertaining to options outstanding
| Range of Exercise Price |
|
Number
Outstanding |
|
Weighted
Average
Remaining
Contractual
Life |
|
Weighted
Average
Exercise
Price |
|
Number
Exercisable |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $1.57-$9.49 |
|
2,650,000 |
|
8.1 years |
|
$ |
4.05 |
|
825,000 |
|
$ |
4.41 |
|
|
| Schedule of performance base stock options |
The following table summarizes the status of the 2015 Plan with respect
to performance based stock options:
Schedule of performance base stock options
| |
|
Nine Months Ended September 30, |
|
| |
|
2022 |
|
2021 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
— |
|
$ |
— |
|
1,000,000 |
|
$ |
1.70 |
|
| Granted |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Exercised |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Forfeited |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Outstanding at September 30 |
|
— |
|
$ |
— |
|
1,000,000 |
|
$ |
1.70 |
|
| Options exercisable at September 30 |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Stock-based compensation expense |
|
— |
|
$ |
— |
|
— |
|
$ |
(408,747 |
) |
|
| Schedule of time based stock options |
Schedule of time based stock options
| |
|
September 30, |
|
| |
|
2022 |
|
2021 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
0.00% |
|
| Expected Volatility |
|
|
65.9% |
|
|
0% - 0% |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
10 |
|
|
0 |
|
| Risk-free rate |
|
|
2.99% |
|
|
0% - 0% |
|
|
| Schedule of status of time based stock options |
The following table summarizes the status of the 2021 Plan with respect
to time based stock options:
Schedule of status of time based stock options
| |
|
Nine Months Ended September 30, |
|
| |
|
2022 |
|
2021 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
0 |
|
$ |
0 |
|
|
— |
|
$ |
— |
|
| Granted |
|
475,000 |
|
$ |
2.67 |
|
|
— |
|
$ |
— |
|
| Exercised |
|
0 |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Forfeited |
|
0 |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Outstanding at September 30 |
|
475,000 |
|
$ |
2.67 |
|
|
— |
|
$ |
— |
|
| Options exercisable at September 30 |
|
0 |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
1.99 |
|
|
— |
|
$ |
— |
|
| Stock-based compensation expense |
|
— |
|
$ |
98,460 |
|
|
— |
|
$ |
— |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information pertaining to options outstanding
at September 30, 2022:
Schedule of information pertaining to options outstanding
| Range of Exercise Price |
|
Number
Outstanding |
|
Weighted
Average
Remaining
Contractual
Life |
|
Weighted
Average
Exercise
Price |
|
Number
Exercisable |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $2.67 |
|
475,000 |
|
9.6 years |
|
$ |
2.67 |
|
0 |
|
$ |
0 |
|
|
| Schedule of activities for restricted stock awards |
The following table summarizes the activities for our restricted stock
awards for the nine months ended September 30, 2022, and 2021.
Schedule of activities for restricted stock awards
| |
|
Nine Months Ended September 30, |
|
| |
|
2022 |
|
2021 |
|
| |
|
Shares |
|
Weighted
Average
Grant-Date Fair Value |
|
Shares |
|
Weighted
Average
Grant-Date Fair Value |
|
| |
|
|
|
|
|
|
|
|
|
| Unvested at January 1 |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Granted |
|
1,000,000 |
|
$ |
3.01 |
|
1,000,000 |
|
$ |
3.01 |
|
| Vested |
|
50,000 |
|
$ |
3.31 |
|
— |
|
$ |
— |
|
| Forfeited/canceled |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Unvested at September 30 |
|
950,000 |
|
$ |
2.99 |
|
1,000,000 |
|
$ |
3.01 |
|
|