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NOTE 11 – STOCKHOLDERS’ EQUITY (Tables) | 6 Months Ended
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Jun. 30, 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 six months ended June 30, 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 six months ended June 30, 2020 and 2019 are set forth in the table below.
|  | June 30, 2020 |  |  | June 30, 2019 |
Weighted average grant date fair value |  | $ | 0.95 |  |  | $ | 2.57 |
Risk-free interest rate |  |  | 0.34-1.68% |  |  |  | 2.19-2.54% |
Volatility |  |  | 63.53-67.92% |  |  |  | 61.25-61.85% |
Term (in years) |  |  | 6-6.8 |  |  |  | 5.5-6.25 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
A summary of option activity under the 2009, 2012 and 2019 Plans and related information during the six months ended June 30, 2020 is as follows: | A summary of option activity under the 2009, 2012 and 2019 Plans and related information during the six months ended June 30, 2020 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 |  |  | 736,500 |  |  | $ | 1.58 |  |  |  |  |  |  |  |  |
Exercised |  |  | (664,304 | ) |  | $ | 0.25 |  |  |  |  |  |  | $ | 1,027,627 |
Expired |  |  | (197,914 | ) |  | $ | 2.53 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (314,375 | ) |  | $ | 3.82 |  |  |  |  |  |  |  |  |
Balance at June 30, 2020 |  |  | 24,590,141 |  |  | $ | 4.70 |  |  |  | 5.59 |  |  | $ | 721,720 |
Vested and Exercisable at June 30, 2020 |  |  | 19,725,267 |  |  | $ | 5.02 |  |  |  | 4.80 |  |  | $ | 673,250 |
Unvested at June 30, 2020 |  |  | 4,864,874 |  |  | $ | 3.42 |  |  |  | 8.83 |  |  | $ | 48,470 |
Schedule of restricted stock units and performance stock units |
|  |  |  | Restricted Stock Units |  |  |  | Performance Stock Units |
|  |  |  | 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 |  |  |  | 5,102,817 |  |  | $ | 1.40 |  |  |  | 2,585,745 |  |  | $ | 1.08 |
Vested/Released |  |  |  | (301,500 | ) |  | $ | 1.78 |  |  |  | (151,500 | ) |  | $ | 1.14 |
Forfeited |  |  |  | (11,360 | ) |  | $ | 1.07 |  |  |  | (11,360 | ) |  | $ | 1.07 |
Balance at June 30, 2020 |  |  |  | 6,029,957 |  |  | $ | 1.83 |  |  |  | 2,422,885 | * |  | $ | 1.08 |

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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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