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NOTE 11 – STOCKHOLDERS’ EQUITY (Tables) | 3 Months Ended
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Mar. 31, 2020
Equity [Abstract] |
The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below. | The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below.
|  | March 31, 2020 |  | March 31, 2019
Weighted average grant date fair value |  | $ | 0.98 |  |  | $ | 3.35 |
Risk-free interest rate |  |  | 1.32-1.68 | % |  |  | 2.54 | %
Volatility |  |  | 63.53-65.72 | % |  |  | 61.85 | %
Term (in years) |  |  | 6-6.7 |  |  |  | 6.25 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows: | A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows:
|  | Number of Shares Under Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life in Years |  | Aggregate Intrinsic Value
Balance at December 31, 2019 |  |  | 25,030,234 |  |  | $ | 4.65 |  |  |  | 5.84 |  |  | $ | 3,668,171 |
Granted |  |  | 636,500 |  |  | $ | 1.64 |  |  |  |  |  |  |  |  |
Exercised |  |  | (350,666 | ) |  | $ | 0.21 |  |  |  |  |  |  | $ | 725,199 |
Expired |  |  | (50,472 | ) |  | $ | 0.41 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (110,375 | ) |  | $ | 4.48 |  |  |  |  |  |  |  |  |
Balance at March 31, 2020 |  |  | 25,155,221 |  |  | $ | 4.65 |  |  |  | 5.77 |  |  | $ | 787,178 |
Vested and Exercisable at March 31, 2020 |  |  | 19,258,556 |  |  | $ | 5.02 |  |  |  | 4.77 |  |  | $ | 787,178 |
Unvested at March 31, 2020 |  |  | 5,896,665 |  |  | $ | 3.42 |  |  |  | 9.05 |  |  | $ | — |
Restricted stock and performance stock awards |
|  |  | Restricted Stock Awards |  |  |  | Performance Stock Awards |
|  |  | Number of Shares |  |  |  | Weighted Average Grant Date Fair Value |  |  |  | Number of Shares |  |  |  | Weighted Average Grant Date Fair Value |
Balance at December 31, 2019 |  |  | 1,240,000 |  |  | $ | 3.56 |  |  |  | — |  |  |  | — |
Granted |  |  | 3,384,245 |  |  | $ | 1.50 |  |  |  | 2,384,245 |  |  | $ | 1.07 |
Vested/Released |  |  | (150,000 | ) |  | $ | 2.42 |  |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at March 31, 2020 |  |  | 4,474,245 |  |  | $ | 2.04 |  |  |  | 2,384,245 |  |  | $ | 1.07 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + 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 (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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