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STOCK OPTIONS (Details) - USD ($) |  | 6 Months Ended
--- | --- | ---
Mar. 16, 2021 | Jun. 30, 2021 | Jun. 30, 2020
Stock options |  |  |
Shares of Common Stock issued for exercises |  | 25,400 |
Proceeds from the exercise of stock options |  | $ 48,600 | $ 626,687
Shares authorized | 2,000,000 |  |
Term (in years) | 3 years |  |
Exercise price (per share) | $ 13.00 |  |
Fair value (per share) | $ 10.21 |  |
Risk-free rate (as a percent) | 1.20% |  |
Volatility (as a percent) | 92.66% |  |
Chief executive officer |  |  |
Stock options |  |  |
Shares issued (in shares) | 1,000,000 |  |
General Counsel |  |  |
Stock options |  |  |
Shares issued (in shares) | 250,000 |  |
Chief financial officer |  |  |
Stock options |  |  |
Shares issued (in shares) | 100,000 |  |

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- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. + 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)(ii) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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