STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of time based stock options |
Schedule of time based stock options
| |
|
December 31, 2022 |
|
December 31, 2021 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
0.00% |
|
| Expected volatility |
|
|
65.29% – 77.5% |
|
|
74.01 – 77.91% |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
10 Years |
|
|
10 Years |
|
| Risk-free rate |
|
|
1.81 – 4.02% |
|
|
1.20 – 1.62% |
|
|
| Schedule of status of time based stock options |
The following table summarizes the status of the Company’s stock
option plan:
Schedule of status of time based stock options
| |
|
December 31, 2022 |
|
December 31, 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 |
|
|
445,000 |
|
$ |
2.57 |
|
|
2,000,000 |
|
$ |
3.64 |
|
| Exercised |
|
|
1,031,250 |
|
$ |
1.57 |
|
|
1,062,500 |
|
$ |
1.19 |
|
| Forfeited |
|
|
526,250 |
|
$ |
2.73 |
|
|
187,494 |
|
$ |
3.36 |
|
| Outstanding at year end |
|
|
2,560,000 |
|
$ |
4.15 |
|
|
3,672,500 |
|
$ |
3.42 |
|
| Options exercisable |
|
|
737,500 |
|
$ |
4.93 |
|
|
983,750 |
|
$ |
2.73 |
|
| Weighted average fair value of options granted during the period |
|
|
— |
|
$ |
1.98 |
|
|
— |
|
$ |
2.85 |
|
| Stock-based compensation expense |
|
|
— |
|
$ |
1,925,861 |
|
|
— |
|
$ |
2,457,788 |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information pertaining to options outstanding
as of December 31, 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 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $2.25 - $9.49 |
|
2,560,000 |
|
8.8 years |
|
$ |
4.15 |
|
737,500 |
|
$ |
4.93 |
|
|
| Schedule of time based stock options |
Schedule of time based stock options
| |
|
December 31, |
|
| |
|
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
| |
|
Year Ended December 31, |
|
| |
|
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 year end |
|
475,000 |
|
$ |
2.67 |
|
|
— |
|
$ |
— |
|
| Options exercisable |
|
0 |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
1.99 |
|
|
— |
|
$ |
— |
|
| Stock-based compensation expense |
|
— |
|
$ |
157,536 |
|
|
— |
|
$ |
— |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information pertaining to options outstanding
at December 31, 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 |
|
9.3 years |
|
$ |
2.67 |
|
0 |
|
$ |
0 |
|
|
| Schedule of performance base options outstanding |
The following table summarizes the status of the 2015 Plan with respect
to performance-based stock options as of December 31, 2022 and 2021:
Schedule of performance base options outstanding
| |
|
December 31, 2022 |
|
|
December 31, 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 year end |
|
— |
|
$ |
— |
|
|
|
1,000,000 |
|
$ |
1.70 |
|
| Options exercisable |
|
— |
|
$ |
— |
|
|
|
— |
|
$ |
— |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
— |
|
|
|
— |
|
$ |
— |
|
| Stock-based compensation expense |
|
— |
|
$ |
— |
|
|
|
— |
|
$ |
(408,747 |
) |
|
| The following table summarizes the activities for our unvested restricted stock awards for the twelve months ended December 31, 2022, and 2021. |
The following table summarizes the activities for our unvested
restricted stock awards for the twelve months ended December 31, 2022, and 2021.
| |
|
Twelve Months Ended December 31, |
|
| |
|
2022 |
|
2021 |
|
| |
|
Shares |
|
Weighted
Average
Grant-Date Fair Value |
|
Shares |
|
Weighted
Average
Grant-Date Fair Value |
|
| |
|
|
|
|
|
|
|
|
|
| Unvested at January 1 |
|
1,000,000 |
|
$ |
3.01 |
|
— |
|
$ |
— |
|
| Granted |
|
— |
|
$ |
— |
|
1,000,000 |
|
$ |
3.01 |
|
| Vested |
|
50,000 |
|
$ |
3.31 |
|
— |
|
$ |
— |
|
| Forfeited/canceled |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Unvested at December 31 |
|
950,000 |
|
$ |
3.04 |
|
1,000,000 |
|
$ |
3.01 |
|
|