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Stock Options (Tables)
12 Months Ended
Dec. 31, 2020
Stock Options  
Schedule of weighted average assumptions

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

 

2020

 

2019

 

 

 

 

 

 

 

 

 

Weighted average fair value of options granted

    

$

0.61

    

$

0.56

 

Risk-free interest rate

 

 

0.29% - 0.56

%  

 

1.68% - 2.55

%

Expected life (years)

 

 

5‑6

 

 

5‑6

 

Expected volatility factor

 

 

46.75%-50.09

%  

 

45.03%-46.38

%

Expected dividends

 

 

None

 

 

None

 

 

Schedule of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted-Average

    

 

 

 

 

 

 

Weighted -Average

 

Remaining

 

 

 

 

 

Number of

 

Exercise

 

Contractual Term

 

Aggregate

 

 

Options

 

Price

 

(years)

 

Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2019

 

4,982,040

 

$

2.14

 

  

 

 

  

Granted

 

2,112,500

 

 

1.25

 

  

 

 

  

Exercised

 

(10,000)

 

 

1.11

 

  

 

 

  

Forfeited/Expired

 

(256,237)

 

 

2.42

 

  

 

 

  

Outstanding at December 31, 2019

 

6,828,303

 

$

1.86

 

6.86

 

$

89,405

Granted

 

1,080,000

 

 

1.37

 

 

 

 

 

Exercised

 

(1,357,116)

 

 

1.97

 

 

 

 

 

Forfeited/Expired

 

(644,303)

 

 

3.06

 

 

 

 

 

Outstanding at December 31, 2020

 

5,906,884

 

$

1.61

 

7.34

 

$

21,769,727

Exercisable at December 31, 2020

 

3,923,564

 

$

1.79

 

6.66

 

$

13,769,733

Vested and Expected to Vest at December 31, 2020

 

5,906,884

 

$

1.61

 

7.34

 

$

21,769,727

 

Summary of restricted shares under the Company's Plan

 

 

 

 

 

 

 

 

    

 

    

Weighted-Average

 

 

 

 

Grant Date Fair

 

 

Number of Shares

 

Value

 

 

 

 

 

 

Outstanding January 1, 2019

 

 —

 

 

 —

Granted

 

75,000

 

$

1.38

Vested

 

 —

 

 

 —

Unvested at December 31, 2019

 

75,000

 

 

 —

Granted

 

 —

 

 

 —

Vested

 

(25,000)

 

 

 —

Forfeited/Expired

 

 —

 

 

 —

Unvested at December 31, 2020

 

50,000

 

$

1.38