STOCK-BASED COMPENSATION (Tables)
|
3 Months Ended |
Mar. 31, 2023 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of time based stock options |
Schedule of time based stock options
| |
|
March 31, |
|
| |
|
2023 |
|
2022 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
0.00% |
|
| Expected Volatility |
|
|
61.3% |
|
|
76.1% - 77.5% |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
10 |
|
|
10 |
|
| Risk-free rate |
|
|
3.53% |
|
|
1.81% - 1.87% |
|
|
| 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
| |
|
Three Months Ended March 31, |
|
| |
|
2023 |
|
2022 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
2,560,000 |
|
$ |
4.15 |
|
|
3,672,500 |
|
$ |
3.42 |
|
| Granted |
|
40,000 |
|
$ |
3.91 |
|
|
135,000 |
|
$ |
3.07 |
|
| Exercised |
|
— |
|
$ |
— |
|
|
75,000 |
|
$ |
1.60 |
|
| Forfeited |
|
— |
|
$ |
— |
|
|
93,750 |
|
$ |
1.57 |
|
| Outstanding at March 31 |
|
2,600,000 |
|
$ |
4.15 |
|
|
3,638,750 |
|
$ |
3.49 |
|
| Options exercisable at March 31 |
|
1,010,000 |
|
$ |
4.63 |
|
|
1,358,750 |
|
$ |
2.83 |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
2.83 |
|
|
— |
|
$ |
2.45 |
|
| Stock-based compensation expense |
|
— |
|
$ |
475,983 |
|
|
— |
|
$ |
524,670 |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information pertaining to options outstanding
at March 31, 2023:
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 |
|
2,600,000 |
|
8.6 years |
|
$ |
4.15 |
|
1,010,000 |
|
$ |
4.63 |
|
|
| Schedule of time based stock options |
Schedule of time based stock options
| |
|
March 31, |
|
| |
|
2023 |
|
2022 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
0.00% |
|
| Expected Volatility |
|
|
0.00% |
|
|
0.00% |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
0 |
|
|
0 |
|
| Risk-free rate |
|
|
0.00% |
|
|
0.00% |
|
|
| 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
| |
|
Three Months Ended March 31, |
|
| |
|
2023 |
|
2022 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
475,000 |
|
$ |
2.67 |
|
|
— |
|
$ |
— |
|
| Granted |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Exercised |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Forfeited |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Outstanding at March 31 |
|
475,000 |
|
$ |
2.67 |
|
|
— |
|
$ |
— |
|
| Options exercisable at March 31 |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Weighted average fair value of options granted during the period |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Stock-based compensation expense |
|
— |
|
$ |
59,076 |
|
|
— |
|
$ |
— |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information pertaining to options outstanding
at March 31, 2023:
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 |
|
9.1 years |
|
$ |
2.67 |
|
— |
|
$ |
— |
|
|
| The following table summarizes the activities for our restricted stock awards for the three months ended March 31, 2023, and 2022. |
The following table summarizes the activities for our restricted stock
awards for the three months ended March 31, 2023, and 2022.
| |
|
Three Months Ended March 31, |
|
| |
|
2023 |
|
2022 |
|
| |
|
Shares |
|
Weighted
Average
Grant-Date Fair Value |
|
Shares |
|
Weighted
Average
Grant-Date Fair Value |
|
| |
|
|
|
|
|
|
|
|
|
| Unvested at January 1 |
|
950,000 |
|
$ |
3.04 |
|
1,000,000 |
|
$ |
3.01 |
|
| Granted |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Vested |
|
50,000 |
|
$ |
3.31 |
|
— |
|
$ |
— |
|
| Forfeited/canceled |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
| Unvested at March 31 |
|
900,000 |
|
$ |
2.93 |
|
1,000,000 |
|
$ |
3.01 |
|
|