XML 43 R34.htm IDEA: XBRL DOCUMENT v3.22.2.2
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2022
STOCK-BASED COMPENSATION [Abstract]  
Information Regarding Equity Incentive Plan The information regarding the 2020 Plan below is presented as though the combination occurred as of the beginning of the periods presented.

   
Number of
Restricted Shares
and Units
   
Weighted Average
Grant Date Fair
Value Per Share
 
Unvested at January 1, 2021
   
1,699,676
   
$
1.28
 
Issued
   
454,000
     
11.71
 
Vested
   
(907,545
)
   
0.03
 
Canceled
   
(100,000
)
   
12.18
 
Unvested at December 31, 2021
   
1,146,131
     
3.28
 
Issued
   
     
 
Vested
   
(349,478
)
   
2.05
 
Canceled
   
(115,105
)
   
0.21
 
Unvested at September 30, 2022
   
681,548
   
$
4.45
 
Fair Value of Stock Option Assumptions The assumptions at September 30, 2022 and December 31, 2021 are as follows:

   
September 30,
2022
   
 December 31,
2021
 
Exercise Price
 
$
2.00 to $51.80
    $ 2.00 to $51.80  
Fair value of Company common stock
 
$
2.98 - $15.61
    $ 7.85 to $22.90  
Dividend yield
   
0%
    0%

Expected volatility
   
117% to 188%
    117% to 188%  
Risk Free interest rate
 
0.27% to 2.96%
      0.27% to 1.59%  
Expected life (years) remaining
 
0.09 to 9.87
      0.84 to 10.00  
Stock Option Activity
Stock option activity for the period ended September 30, 2022 is as follows:

   
Shares
Underlying
Options
   
Weighted Average
Exercise Price
   
Weighted Average
Remaining
Contractual Term
(in years)
 
Outstanding at January 1, 2021
   
   
$
     
 
Options assumed in Helix Merger
   
455,089
   
$
15.13
     
3.24
 
Granted
   
3,893,714
   
$
12.73
     
9.31
 
Exercised
   
(29,937
)
 
$
6.03
     
1.02
 
Forfeited and expired
   
(271,893
)
 
$
7.31
     
6.65
 
Outstanding at December 31, 2021
   
4,046,973
   
$
14.25
     
8.75
 
Granted     1,203,250     $ 4.02       9.58  
Exercised     (33,334 )   $ 2.47       2.80  
Forfeited and expired     (1,027,181 )   $ 14.69       8.28  
Outstanding at September 30, 2022     4,189,708     $ 10.49       8.54  
Vested options at September 30, 2022
   
1,475,670
   
$
11.36
     
7.58
 
Stock Compensation Expense Stock compensation expense for the three and nine months ended September 30, 2022 and 2021 is as follows:

   
For the Three Months Ended September 30,
    For the Nine Months Ended September 30,
 

 
2022
   
2021
    2022     2021  
Services
 
$
42,768
   
$
14,823
    $ 107,928     $ 19,479  
Research and development
   
118,822
     
(131,774
)
    348,788       6,215  
Sales and marketing
   
196,724
     
108,477
      439,343       315,140  
General and administrative
   
1,604,930
     
2,635,980
      5,320,920       5,904,845  
Separation expenses
                5,417,043        
Total   $ 1,963,244     $ 2,627,506     $ 11,634,022     $ 6,245,679