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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Schedule of black - scholes option-pricing model valuation assumption | The calculation of the fair value of the awards using the Black-Scholes option-pricing model is affected by the Company’s stock price on the date of grant as well as assumptions regarding the following:
|  | Year ended December 31,
|  | 2021 |  | 2020
Expected volatility |  | 69.2% - 81.1% |  | 69.2-81.1%
Expected term |  | 4.5 - 5.0 Years |  | 4.8-5.0 Years
Risk-free interest rate |  | 0.3% - 1.4% |  | 0.2% - 1.4%
Forfeiture Rate |  | 0.0% |  | 0.0%
Schedule of outstanding stock options | A summary of the status of the Company’s outstanding stock options as of December 31, 2021 and 2020 and changes during the periods ending on that date is as follows:
|  |  |  |  | Weighted Average |  |  | Aggregate |  |  | Weighted |
|  | Shares |  |  | Exercise |  |  | Grant Date Fair |  |  | Intrinsic Value |  |  | Average Remaining |
|  | (000’s) |  |  | Price |  |  | Value |  |  | (000’s) |  |  | Term (Yrs) |
Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2019 |  |  | 6,528 |  |  | $ | 3.54 |  |  |  |  |  | $ | 8,978 |  |  |  | 6.58 |
Granted |  |  | 575 |  |  |  | 7.14 |  |  | $ | 4.66 |  |  |  |  |  |  |
Exercised |  |  | (1,806 | ) |  |  | 2.83 |  |  | $ | 20.27 |  |  |  | 31,480 |  |  |  |
Forfeiture and cancelled |  |  | (99 | ) |  |  | 3.93 |  |  |  |  |  |  |  |  |  |
At December 31, 2020 |  |  | 5,198 |  |  | $ | 4.23 |  |  |  |  |  | $ | 240,866 |  |  |  | 6.89 |
Granted |  |  | 305 |  |  | $ | 42.37 |  |  | $ | 30.32 |  |  |  |  |  |  |
Exercised |  |  | (1,460 | ) |  |  | 3.85 |  |  | $ | 80.58 |  |  |  | 84,371 |  |  |  |
Forfeiture and cancelled |  |  | (443 | ) |  |  | 5.01 |  |  |  |  |  |  |  |  |  |
At December 31, 2021 |  |  | 3,600 |  |  | $ | 7.47 |  |  |  |  |  | $ | 241,515 |  |  |  | 6.37 |
Exercisable at December 31, 2021 |  |  | 2,314 |  |  | $ | 4.06 |  |  |  |  |  | $ | 163,151 |  |  |  | 5.49 |
Schedule of employee stock options outstanding | The following table summarizes information about employee stock options outstanding at December 31, 2021:
|  | Outstanding Options |  |  | Vested Options |
|  | Number |  |  |  |  |  |  |  |  | Number |  |  |  |  |  |  |
|  | Outstanding |  |  | Weighted |  |  | Weighted |  |  | Exercisable |  |  | Weighted |  |  | Weighted |
|  | at |  |  | Averaged |  |  | Averaged |  |  | at |  |  | Averaged |  |  | Averaged |
|  | December 31, |  |  | Remaining |  |  | Exercise |  |  | December 31, |  |  | Exercise |  |  | Remaining |
Range of Exercise Price |  | 2021 (000’s) |  |  | Life |  |  | Price |  |  | 2021 (000’s) |  |  | Price |  |  | Life |
$0.20 - $0.53 |  |  | 20 |  |  |  | 2.08 |  |  | $ | 0.34 |  |  |  | 20 |  |  | $ | 0.34 |  |  |  | 2.08 |
$0.65 - $1.80 |  |  | 100 |  |  |  | 3.15 |  |  | $ | 1.05 |  |  |  | 100 |  |  | $ | 1.05 |  |  |  | 3.15 |
$1.83 - $2.84 |  |  | 107 |  |  |  | 4.02 |  |  | $ | 1.97 |  |  |  | 107 |  |  | $ | 1.97 |  |  |  | 4.02 |
$3.20 - $6.20 |  |  | 2,993 |  |  |  | 6.27 |  |  | $ | 4.16 |  |  |  | 2,062 |  |  | $ | 4.21 |  |  |  | 5.68 |
$7.20-$60.00 |  |  | 380 |  |  |  | 8.93 |  |  | $ | 37.15 |  |  |  | 25 |  |  | $ | 15.93 |  |  |  | 8.63 |
Outstanding options |  |  | 3,600 |  |  |  | 6.37 |  |  | $ | 7.47 |  |  |  | 2,314 |  |  | $ | 4.06 |  |  |  | 5.49 |
Schedule of restricted stock activity | A summary of the Company’s restricted stock activity for the years ended December 31, 2021 and 2020 is presented in the following table:
|  | For the twelve months ended |
|  | December 31, 2021 | December 31, 2020 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Grant Date |  |  |  |  |  | Grant Date |
|  | Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Unvested at beginning of period |  |  | 66,229 |  |  | $ | 28.11 |  |  |  | 90,000 |  |  | $ | 3.23 |
Transfers to restricted stock units |  |  | (45,871 | ) |  |  | 34.02 |  |  |  | — |  |  |  | — |
Granted |  |  | — |  |  |  | — |  |  |  | 175,737 |  |  |  | 17.46 |
Vested |  |  | (18,913 | ) |  |  | 14.79 |  |  |  | (170,145 | ) |  |  | 8.08 |
Forfeited and cancelled |  |  | 1,187 |  |  |  | 14.72 |  |  |  | (29,363 | ) |  |  | 4.15 |
Unvested at end of period |  |  | 258 |  |  | $ | 14.72 |  |  |  | 66,229 |  |  | $ | 28.11 |
The total fair value of shares vested during the year ended December 31, 2021 and 2020 was approximately $1.3 million and $2.9 million, respectively. Unrecognized compensation expense related to outstanding restricted stock awards to employees and directors as of December 31, 2021 was approximately $1,096 and is expected to be expensed over the next 0.6 years. Unrecognized compensation expense related to outstanding restricted stock awards to employees and directors as of December 31, 2020 was $0.2 million. Restricted Stock Units Restricted stock units are awards that give the holder the right to receive one share of common stock for each restricted stock unit upon meeting service-based vesting conditions (typically annual vesting in three equal annual installments, with a requirement that the holder remains in the continuous employment of the Company). The holders of unvested units do not have the same rights as stockholders including but not limited to any dividends which may be declared by the Company, and do not have the right to vote. The value of restricted stock units that vest over time is established by the market price on the date of its grant. A summary of the Company’s restricted stock unit activity for the year ended December 31, 2021 and 2020 is presented in the following table:
|  | For the twelve months ended |
|  | December 31, 2021 | December 31, 2020 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Grant Date |  |  |  |  |  | Grant Date |
|  | Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Unvested at beginning of period |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Transfers to restricted stock awards |  |  | 45,871 |  |  |  | 34.02 |  |  |  | — |  |  |  | — |
Granted |  |  | 573,428 |  |  |  | 54.40 |  |  |  | — |  |  |  | — |
Vested |  |  | (18,758 | ) |  |  | 64.58 |  |  |  | — |  |  |  | — |
Forfeited and cancelled |  |  | (35,000 | ) |  |  | 50.46 |  |  |  | — |  |  |  | — |
Unvested at end of period |  |  | 565,541 |  |  | $ | 52.66 |  |  | $ | — |  |  | $ | — |
Schedule of Stock-based Awards Issued to Non-employee Consultants | A summary of the Company’s PSU activity for the years ended December 31, 2021 and 2020 is presented in the following table:
|  | For the twelve months ended |
|  | December 31, 2021 | December 31, 2020 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Grant Date |  |  |  |  |  | Grant Date |
|  | Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Unvested at beginning of period |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Granted |  |  | 15,468 |  |  |  | 64.65 |  |  |  | — |  |  |  | — |
Vested |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited and cancelled |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unvested at end of period |  |  | 15,468 |  |  | $ | 64.65 |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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