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STOCK-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Sep. 30, 2020

STOCK-BASED COMPENSATION PLANS

Schedule of outstanding and exercisable number of options

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​	​	​	​	​	​
​		Outstanding		Exercisable
​	​	Number of Options	​	Number of Options
​	​	(in thousands)	​	(in thousands)
Plan Category				​
2005 Stock Option Plan		299		​	299
Equity Compensation Plans not approved by  Shareholders		37		​	25
2017 Stock Option Plan		679		​	219
Total		1,015	​	$	543

Schedule of share based compensation expenses recorded in the consolidated statement of income

The following summarizes stock-based compensation expenses recorded in the consolidated statements of operations:

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For the Three Months Ended September 30,

For the Nine Months Ended September 30,

​

​

2020

2019

2020

2019

​

Cost of Revenue

​

$

13

​

$

5

​

$

22

​

$

15

​

Sales and marketing expense

​

13

​

2

​

45

​

6

​

General, and administrative

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​

704

​

​

251

​

​

1,739

​

​

535

​

Total stock based compensation expense

​

​

730

​

​

258

​

​

1,806

​

​

556

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Fair Value of Stock Options Grants

The Company used the Black Scholes option pricing model to determine the fair value of stock option grants, using the following assumptions for the three and nine months ended September 30, 2020 and September 30, 2019.

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​	​	​	​	​	​	​	​	​	​
​	​	For the Three Months				For the Nine Months
​	​	Ended September 30,				Ended September 30,
​		2020	​	2019		2020	​	2019
Expected term (years)	​	6.38	​	6.25	​	6.42	​	6.25	​
Risk-free interest rate	​	0.34	%	1.83	%	1.15	%	2.34	%
Expected volatility	​	112.97	%	121.58	%	116.79	%	121.83	%
Expected dividend yield	​	—	%	—	%	—	%	—	%

Summary of Stock Option Activity Under the Option Plan

A summary of stock option activity under all equity compensation plans for the nine months ended September 30, 2020, is presented below:

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​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted-	​	​	​
​	​	​	​	Weighted-		​	Average	​	Aggregate
​	​	Number of	​	Average		​	Remaining	​	Intrinsic
​	​	Shares	​	Exercise		​	Contractual	​	Value
​		(in thousands)		Price			Term (Years)		(in thousands)
Outstanding at December 31, 2019		1,855	​	$	2.48	​	6.42	​	$	10,032
Granted		14	​	$	10.15	​	​	​		​
Expired		—	​	​	—	​	​	​		​
Forfeited	​	(234)	​	$	4.71	​	​	​	​	​
Exercised		(620)	​	$	0.90	​	​	​		​
Outstanding at September 30, 2020		1,015	​	$	3.04	​	6.74	​	$	14,622
​	​	​	​	​	​	​	​	​	​	​
Exercisable at September 30, 2020		543	​	$	1.47	​	5.47	​	$	8,677

Restricted Stock Award Activity Under all Equity Compensation Plans

A summary of restricted stock award activity under all equity compensation plans for the nine months ended September 30, 2020, is presented below:

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​	​	​
​	​	Number of
​	​	Shares
​		(in thousands)
Granted but not vested at December 31, 2019		102
Granted		291
Forfeited		—
Vested		(95)
Granted but not vested at September 30, 2020		298

​

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