XML 50 R40.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Shareholders' Equity and Share Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Fair Value of Stock Option Valuation Assumptions | The following key assumptions were used in the valuation model to value stock option grants for each respective period:
|  | 2024 |  | 2023 |  | 2022
Expected volatility |  | 77.2% - 85.8% |  | 85.7% - 87.8% |  | 84.0% - 89.9%
Dividend |  | $nil |  | $nil |  | $nil
Risk-free interest rate |  | 3.08% - 3.71% |  | 2.76% - 4.15% |  | 1.41% - 3.28%
Expected life |  | 4.4 years |  | 6.5 years |  | 6.5 years
Fair value |  | $0.56 - $0.62 |  | $0.44 - $0.82 |  | $0.93 - $4.33
Summary of Stock Based Compensation Stock Option | Stock option transactions under the Company’s plan for the years ended December 31, 2024, 2023 and 2022 are summarized as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2021 |  |  | 3,622,558 |  |  | $ | 6.20 |  |  |  | 7.89 |  |  | $ | 6,530 |
Granted during 2022 |  |  | 725,360 |  |  | $ | 2.74 |  |  |  | 9.70 |  |  | $ | 16 |
Exercised during 2022 |  |  | (180,000 | ) |  | $ | 1.30 |  |  |  | 0.51 |  |  | $ | 772 |
Forfeited during 2022 |  |  | (78,500 | ) |  | $ | 8.45 |  |  |  |  |  |  |
Outstanding at December 31, 2022 |  |  | 4,089,418 |  |  | $ | 5.76 |  |  |  | 6.77 |  |  | $ | 152 |
Exercisable at December 31, 2022 |  |  | 2,549,401 |  |  | $ | 5.88 |  |  |  | 5.46 |  |  | $ | 133 |
Granted during 2023 |  |  | 3,492,991 |  |  | $ | 0.94 |  |  |  | 9.34 |  |  | $ | 130 |
Exercised during 2023 |  |  | (100,000 | ) |  | $ | 0.83 |  |  |  |  |  | $ | 71 |
Forfeited during 2023 |  |  | (535,833 | ) |  | $ | 4.04 |  |  |  |  |  |  |
Outstanding at December 31, 2023 |  |  | 6,946,576 |  |  | $ | 3.50 |  |  |  | 7.54 |  |  | $ | 83 |
Exercisable at December 31, 2023 |  |  | 3,081,262 |  |  | $ | 6.07 |  |  |  | 5.44 |  |  | $ | 1 |
Granted during 2024 |  |  | 170,000 |  |  | $ | 0.95 |  |  |  | 5.96 |  |  | $ | 0 |
Forfeited/expired during 2024 |  |  | (598,167 | ) |  | $ | 3.32 |  |  |  |  |  |  |
Outstanding at December 31, 2024 |  |  | 6,518,409 |  |  | $ | 3.44 |  |  |  | 6.79 |  |  | $ | 90 |
Exercisable at December 31, 2024 |  |  | 4,038,856 |  |  | $ | 4.88 |  |  |  | 5.96 |  |  | $ | 31 |
Schedule of Nonvested Stock Options Activity | A summary of the status of the Company’s non-vested stock options, and the changes during the year ended December 31, 2024 is presented below:
|  | Number of Options |  |  | Weighted Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Non-vested at January 1, 2024 |  |  | 3,865,314 |  |  | $ | 1.07 |  |  |  |
Granted |  |  | 170,000 |  |  | $ | 0.58 |  |  |  |
Vested |  |  | (957,594 | ) |  | $ | 0.90 |  |  |  |
Forfeited |  |  | (598,167 | ) |  | $ | 2.27 |  |  |  |
Non-vested at December 31, 2024 |  |  | 2,479,553 |  |  | $ | 0.82 |  |  | $ | 59 |
Summary of Performance Base Restricted Share Unit | Performance-based restricted share unit activity for the years ended December 31, 2024, 2023 and 2022 is as follows:
|  | Number of Performance-based Restricted Share Units |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2021 |  |  | 230,000 |  |  | $ | 6.83 |
Exercised |  |  | (200,000 | ) |  | $ | 6.41 |
Outstanding at December 31, 2022 |  |  | 30,000 |  |  | $ | 8.31 |
Exercisable at December 31, 2022 |  |  | 30,000 |  |  | $ | 8.31 |
Issued |  |  | (10,000 | ) |  | $ | 8.31 |
Forfeited |  |  | (20,000 | ) |  | $ | 8.31 |
Outstanding at December 31, 2023 |  |  | — |  |  | $ | 8.31 |
Exercisable at December 31, 2023 |  |  | — |  |  |  | — |
Granted |  |  | 2,179,884 |  |  | $ | 0.71 |
Vested and Issued |  |  | (1,479,024 | ) |  | $ | 1.25 |
Outstanding at December 31, 2024 |  |  | 700,860 |  |  | $ | 0.17 |
Exercisable at December 31, 2024 |  |  | — |  |  | $ | - |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of non-vested stock options activity + References No definition available. + Details
Name: | vff_ScheduleOfNonvestedStockOptionsActivityTableTextBlock
Namespace Prefix: | vff_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration