Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.23.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Pricing

 

 

Options Issued For the Twelve Months Ended December 31, 2022

 

Options Issued For the Twelve Months Ended December 31, 2021

Dividend yield

 

0%

 

0%

Expected volatility

 

59.25% - 60.70%

 

61.12% - 68.74%

Risk-free interest rate

 

1.37% - 3.90%

 

.48% - .98%

Expected life (years)

 

5.00

 

5.00

 
Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common
Stock
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Aggregate
Intrinsic
Value

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Outstanding -- December 31, 2021

 

 

1,935,002

 

 

$

1.33

 

 

$

4,788,314

 

 

 

1.87

 

Issued

 

 

740,000

 

 

$

3.86

 

 

$

—

 

 

 

—

 

Surrender of options

 

 

365,751

 

 

$

1.16

 

 

$

—

 

 

 

—

 

Exercised

 

 

(1,098,831

)

 

$

1.11

 

 

$

(1,464,770

)

 

 

—

 

Forfeited or expired

 

 

(322,041

)

 

$

1.16

 

 

$

—

 

 

 

—

 

Outstanding -- December 31, 2022

 

 

1,619,881

 

 

$

2.61

 

 

$

(267,418

)

 

 

2.74

 

Exercisable -- December 31, 2022

 

 

684,882

 

 

$

1.45

 

 

$

677,901

 

 

 

1.19

 

 

 
Summary of Unvested Stock Option Activity

A summary of unvested stock option activity is as follows:

 

 

 

Common
Stock
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Aggregate
Intrinsic
Value

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Unvested – December 31, 2021

 

 

477,001

 

 

$

1.97

 

 

$

873,958

 

 

 

3.45

 

Granted

 

 

740,000

 

 

$

3.86

 

 

$

—

 

 

 

0.00

 

Vested

 

 

(262,001

)

 

$

1.86

 

 

$

—

 

 

 

0.00

 

Forfeited

 

 

(20,001

)

 

$

1.41

 

 

$

—

 

 

 

0.00

 

Unvested - December 31, 2022

 

 

934,999

 

 

$

3.50

 

 

$

(990,043

)

 

 

3.90