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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of time based stock options | Schedule of time based stock options
|  | June 30, |
|  | 2022 |  | 2021 |
Dividend yield |  |  | 0.00% |  |  | 0.00% |
Expected Volatility |  |  | 65.9% - 77.5% |  |  | 74.01% - 74.28% |
Weighted-average volatility |  |  | — |  |  | — |
Expected dividends |  |  | — |  |  | — |
Expected term (in years) |  |  | 10 |  |  | 10 |
Risk-free rate |  |  | 1.81% - 2.99% |  |  | 1.20% - 1.62% |
Schedule of status of time based stock options | The following table summarizes the status of the 2015 Plan with respect to time based stock options: Schedule of status of time based stock options
|  | Six Months Ended June 30, |
|  | 2022 |  | 2021 |
|  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |
Outstanding at January 1 |  | 3,672,500 |  | $ | 3.42 |  |  | 2,922,494 |  | $ | 2.46 |
Granted |  | 295,000 |  | $ | 2.70 |  |  | 1,250,000 |  | $ | 3.94 |
Exercised |  | 618,750 |  | $ | 1.57 |  |  | 1,000,000 |  | $ | 1.23 |
Forfeited |  | 411,250 |  | $ | 2.94 |  |  | 100,000 |  | $ | 3.94 |
Outstanding at June 30 |  | 2,937,500 |  | $ | 3.80 |  |  | 3,072,494 |  | $ | 3.41 |
Options exercisable at June 30 |  | 837,500 |  | $ | 3.47 |  |  | 871,244 |  | $ | 2.18 |
Weighted average fair value of options granted during the period |  | — |  | $ | 2.10 |  |  | — |  | $ | 3.06 |
Stock-based compensation expense |  | — |  | $ | 1,013,021 |  |  | — |  | $ | 1,528,522 |
Schedule of information pertaining to options outstanding | The following table presents information pertaining to options outstanding at June 30, 2022: Schedule of information pertaining to options outstanding
Range of Exercise Price |  | Number Outstanding |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Exercise Price |
$1.57-$9.49 |  | 2,937,500 |  | 8.4 years |  | $ | 3.80 |  | 837,500 |  | $ | 3.47 |
Schedule of performance base stock options | The following table summarizes the status of the 2015 Plan with respect to performance based stock options: Schedule of performance base stock options
|  | Six Months Ended June 30, |
|  | 2022 |  | 2021 |
|  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |
Outstanding at January 1 |  | — |  | $ | — |  | 1,000,000 |  | $ | 1.70 |
Granted |  | — |  | $ | — |  | — |  | $ | — |
Exercised |  | — |  | $ | — |  | — |  | $ | — |
Forfeited |  | — |  | $ | — |  | — |  | $ | — |
Outstanding at June 30 |  | — |  | $ | — |  | 1,000,000 |  | $ | 1.70 |
Options exercisable at June 30 |  | — |  | $ | — |  | — |  | $ | — |
Weighted average fair value of options granted during the period |  | — |  | $ | — |  | — |  | $ | — |
Stock-based compensation expense |  | — |  | $ | — |  | — |  | $ | (408,747 | )
Schedule of time based stock options | Schedule of time based stock options
|  | June 30, |
|  | 2022 |  | 2021 |
Dividend yield |  |  | 0.00% |  |  | 0.00% |
Expected Volatility |  |  | 65.9% |  |  | 0% - 0% |
Weighted-average volatility |  |  | — |  |  | — |
Expected dividends |  |  | — |  |  | — |
Expected term (in years) |  |  | 10 |  |  | 0 |
Risk-free rate |  |  | 2.99% |  |  | 0% - 0% |
Schedule of status of time based stock options | The following table summarizes the status of the 2021 Plan with respect to time based stock options: Schedule of status of time based stock options
|  | Six Months Ended June 30, |
|  | 2022 |  | 2021 |
|  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |
Outstanding at January 1 |  | 0 |  | $ | 0 |  |  | — |  | $ | — |
Granted |  | 475,000 |  | $ | 2.67 |  |  | — |  | $ | — |
Exercised |  | 0 |  | $ | — |  |  | — |  | $ | — |
Forfeited |  | 0 |  | $ | — |  |  | — |  | $ | — |
Outstanding at June 30 |  | 475,000 |  | $ | 2.67 |  |  | — |  | $ | — |
Options exercisable at June 30 |  | 0 |  | $ | — |  |  | — |  | $ | — |
Weighted average fair value of options granted during the period |  | — |  | $ | 1.99 |  |  | — |  | $ | — |
Stock-based compensation expense |  | — |  | $ | 39,384 |  |  | — |  | $ | — |
Schedule of information pertaining to options outstanding | The following table presents information pertaining to options outstanding at June 30, 2022: Schedule of information pertaining to options outstanding
Range of Exercise Price |  | Number Outstanding |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Exercise Price |
$2.67 |  | 475,000 |  | 9.8 years |  | $ | 2.67 |  | 0 |  | $ | 0 |
Schedule of activities for restricted stock awards | The following table summarizes the activities for our restricted stock awards for the six months ended June 30, 2022, and 2021. Schedule of activities for restricted stock awards
|  | Six Months Ended June 30, |
|  | 2022 |  | 2021 |
|  | Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value |
Unvested at January 1 |  | — |  | $ | — |  | — |  | $ | — |
Granted |  | 1,000,000 |  | $ | 3.01 |  | 1,000,000 |  | $ | 3.01 |
Vested |  | 50,000 |  | $ | 3.31 |  | — |  | $ | — |
Forfeited/canceled |  | — |  | $ | — |  | — |  | $ | — |
Unvested at June 30 |  | 950,000 |  | $ | 2.99 |  | 1,000,000 |  | $ | 3.01 |

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