STOCK-BASED COMPENSATION (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Share-based Payment Arrangement [Abstract] |
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| Schedule of fair value of the stock options granted Black-Scholes option valuation model |
The risk-free interest rate was selected based upon yields of the U.S. Treasury issues with a term equal to the expected life of the option being valued.
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September 30,
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2019
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2018
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Dividend yield
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0.00%
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0.00%
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Expected Volatility
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56.1 – 60.7%
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62.8 – 65.2%
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Weighted-average volatility
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—
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—
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Expected dividends
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—
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—
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Expected term (in years)
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10 Years
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5 Years
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Risk-free rate
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1.60 – 2.72%
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2.80 – 2.90%
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| Schedule of stock option plan |
The following table summarizes the status of the Plan with respect to time based stock options:
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Nine months Ended September 30,
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2019
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2018
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Shares
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Weighted
Average
Exercise
Price
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Shares
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Weighted
Average
Exercise
Price
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Outstanding at January 1
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2,419,000
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$
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1.00
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1,038,000
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$
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0.41
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Granted
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1,650,000
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$
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1.92
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1,018,000
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$
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1.23
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Exercised
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160,000
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$
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0.37
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125,000
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$
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0.41
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Forfeited
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12,000
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$
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0.87
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12,000
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$
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0.87
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Outstanding at September 30
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3,897,000
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$
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1.41
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1,919,000
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$
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0.85
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Options exercisable at September 30
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1,037,885
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$
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0.81
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666,969
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$
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0.40
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Weighted average fair value of options granted during the period
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—
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$
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1.33
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—
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$
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0.68
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Stock-based compensation expense
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$
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473,139
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—
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$
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51,592
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| Schedule of information pertaining to time based options outstanding |
The following table presents information pertaining to options outstanding at September 30, 2019:
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Range of Exercise Price
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Number
Outstanding
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Weighted
Average
Remaining
Contractual
Life
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Weighted
Average
Exercise
Price
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Number
Exercisable
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Weighted
Average
Exercise
Price
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$ 0.38 – 3.15
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3,897,000
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7 years
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$
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1.41
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1,037,885
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$
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0.81
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| Schedule of performance base share options |
The risk-free interest rate was selected based upon yields of the U.S. Treasury issues with a term equal to the expected life of the option being valued.
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September 30,
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2019
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2018
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Dividend yield
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0.00%
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—
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Expected Volatility
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58.9%
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—
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Weighted-average volatility
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—
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—
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Expected dividends
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—
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—
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Expected term (in years)
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10 Years
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—
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Risk-free rate
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2.07%
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—
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| Schedule of performance base options outstanding |
The following table summarizes the status of the Plan with respect to performance based stock options:
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Nine months Ended September 30,
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2019
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2018
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Shares
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Weighted
Average
Exercise
Price
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Shares
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Weighted
Average
Exercise
Price
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Outstanding at January 1
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—
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$
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—
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—
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$
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—
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Granted
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1,000,000
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$
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1.70
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—
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$
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—
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Exercised
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—
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$
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—
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—
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$
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—
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Forfeited
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—
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$
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—
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—
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$
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—
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Outstanding at September 30
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1,000,000
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$
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1.70
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—
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$
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—
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Options exercisable at September 30
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—
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$
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—
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—
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$
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—
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Weighted average fair value of options granted during the period
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—
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$
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1.16
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—
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$
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—
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Stock-based compensation expense
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—
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$
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167,636
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—
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$
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—
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| Schedule of information pertaining to performance base options outstanding |
The following table presents information pertaining to performance based options outstanding at September 30, 2019:
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Range of Exercise Price
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Number
Outstanding
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Weighted
Average
Remaining
Contractual
Life
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Weighted
Average
Exercise
Price
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Number
Exercisable
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Weighted
Average
Exercise
Price
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$1.70
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1,000,000
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10 years
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$
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1.70
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—
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$
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—
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