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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
SCHEDULE OF STOCK OPTIONS ACTIVITY | The following table summarizes the activity relating to the Company’s market-based stock options that were granted to certain executives for the nine-month period ended September 30, 2022: SCHEDULE OF STOCK OPTIONS ACTIVITY
|  | Options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Terms |  |  | Aggregate Intrinsic Value |
Outstanding at beginning of year |  |  | - |  |  | $ | - |  |  |  |  |  |  |  |  |
Granted |  |  | 5,065 |  |  |  | 14.14 |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 5,065 |  |  | $ | 14.14 |  |  |  | 9.3 years |  |  | $ | - |
Exercisable at end of period |  |  | - |  |  | $ | - |  |  |  | - |  |  | $ | - |
The following table summarizes the activity relating to the Company’s stock options, excluding the market-based stock options that were granted to certain executives, for the nine-month period ended September 30, 2022:
|  | Options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Terms |  |  | Aggregate Intrinsic Value |
Outstanding at beginning of year |  |  | 3,470 |  |  | $ | 5.91 |  |  |  |  |  |  |  |  |
Granted |  |  | 895 |  |  |  | 4.08 |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (1,578 | ) |  |  | 5.95 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 2,787 |  |  | $ | 5.30 |  |  |  | 7.3 years |  |  | $ | 2 |
Exercisable at end of period |  |  | 1,124 |  |  | $ | 5.80 |  |  |  | 5.8 years |  |  | $ | 2 |
SCHEDULE OF FAIR VALUE STOCK OPTION ASSUMPTIONS | The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions: SCHEDULE OF FAIR VALUE STOCK OPTION ASSUMPTIONS
|  | 2021 |  |  | 2022 |
|  | September 30, |
|  | 2021 |  |  | 2022 |
Expected volatility |  |  | 50.2 | % |  |  | 49.4 | %
Expected life of options (in years) |  |  | 7 |  |  |  | 7 |
Risk free interest rate |  |  | 0.69 | % |  |  | 1.73 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
Weighted-average fair value of options granted during year |  | $ | 3.81 |  |  | $ | 2.04 |
SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY | The Company grants restricted stock to employees, whereby the employees are contractually restricted from transferring the shares until they are vested. The stock is unvested at the time of grant and, upon vesting, there are no legal restrictions on the stock. The fair value of each share is based on the Company’s closing stock price on the date of the grant. A summary of all non-vested restricted stock for the nine-month period ended September 30, 2022 is as follows: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY
|  | Number of Non- Vested Shares |  |  | Weighted- Average Grant Date Fair Value |
Restricted stock, non-vested, beginning of year |  |  | 629 |  |  | $ | 7.06 |
Granted |  |  | 476 |  |  |  | 3.74 |
Vested |  |  | (183 | ) |  |  | 7.26 |
Forfeited |  |  | (185 | ) |  |  | 7.08 |
Restricted stock, non-vested, end of period |  |  | 737 |  |  | $ | 4.86 |
Restricted Stock Units (RSUs) [Member] |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY | The Company also has granted restricted stock units (RSUs) to employees. The following table summarizes the activity relating to the Company’s restricted stock units for the three-month period ended September 30, 2022: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY
|  | Number of Restricted Stock Units |  |  | Weighted- Average Grant Date Fair Value |
Restricted stock units, non-vested, beginning of year |  |  | 36 |  |  | $ | 5.60 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | (31 | ) |  |  | 5.60 |
Forfeited |  |  | - |  |  |  | - |
Restricted stock units, non-vested, end of period |  |  | 5 |  |  | $ | 5.60 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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