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STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
SUMMARY OF OUTSTANDING STOCK WARRANTS | A summary of the Company’s issued and outstanding stock warrants and changes during the period ended September 30, 2023 is as follows: SUMMARY OF OUTSTANDING STOCK WARRANTS
|  | Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |
Outstanding as of December 31, 2022 |  |  | 324,375 |  |  | $ | 25.00 |  |  |  | 2.5 |
Issued |  |  | — |  |  |  | 0.00 |  |  |  | 0.0 |
Expired |  |  | — |  |  |  | 0.00 |  |  |  | 0.0 |
Exercised |  |  | — |  |  |  | 0.00 |  |  |  | 0.0 |
Outstanding as of September 30, 2023 |  |  | 324,375 |  |  | $ | 25.00 |  |  |  | 2.0 |
SUMMARY OF RESTRICTED STOCK AWARD ACTIVITY | A summary of the restricted stock award activity (represented by restricted stock units (“RSUs”)) for the nine months ended September 30, 2023 is as follows: SUMMARY OF RESTRICTED STOCK AWARD ACTIVITY
|  | Number of Units |  |  | Weighted Average Grant Date Fair Value |
Nonvested at December 31, 2022 |  |  | 1,255,648 |  |  | $ | 22.60 |
Granted |  |  | 3,350,763 |  |  |  | 8.33 |
Vested |  |  | (679,947 | ) |  |  | 20.02 |
Forfeited |  |  | (173,033 | ) |  | $ | 9.42 |
Nonvested at September 30, 2023 |  |  | 3,753,431 |  |  | $ | 10.93 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
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