Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.21.2
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
SCHEDULE OF STOCK-BASED COMPENSATION

Stock-based compensation, including restricted stock awards, stock options and warrants is included in the unaudited condensed consolidated statement of operations as follows:

 

                         
    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2021     2020     2021     2020  
Research and development   $ 18,786     $ 15,873     $ 62,980     $ 47,618  
Sales and marketing     60,771       28,991       184,853       101,695  
General and administrative     3,580,935       122,905       6,750,153       325,862  
Total   $ 3,660,492     $ 167,769     $ 6,997,986     $ 475,175  
SCHEDULE OF STOCK-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY

The following table reflects the stock option activity:

 

    Number of Shares     Weighted Average Exercise Price     Contractual Life (Years)  
Outstanding at December 31, 2020     1,920,269     $ 4.40       8.66  
Exercised     (555,004 )   $ 2.72          
Forfeitures     (2,500 )   $ 2.52          
Outstanding at September 30, 2021     1,362,765     $ 5.09       8.31  
SCHEDULE OF STOCK-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS

The Company uses the following inputs when valuing stock-based awards.

 

    Nine Months Ended September 30,  
    2021     2020  
Expected life (years)     N/A       5.0  
Risk-free interest rate     N/A       0.24 %
Expected volatility     N/A       89.96 %
Total grant date fair value   $ N/A     $ 2.30-3.63  
Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
SCHEDULE OF STOCK-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY

The following table reflects the restricted stock activity:

 

    Number of
Shares
    Weighted Average Grant Price  
Outstanding at December 31, 2020     1,072,503     $ 5.30  
Granted     622,000     $ 3.91  
Vested     (1,158,891 )   $ 5.64  
Forfeitures     (42,612 )   $ 3.17  
Outstanding at September 30, 2021     493,000     $ 2.93