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NOTE 11 – STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
The ranges of assumptions used in the Black-Scholes Model during the nine months ended September 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 nine months ended September 30, 2020 and 2019 are set forth in the table below.
|  | September 30, 2020 |  |  | September 30, 2019 |
Weighted average grant date fair value |  | $ | 0.95 |  |  | $ | 1.84 |
Risk-free interest rate |  |  | 0.34-1.68% |  |  |  | 1.83-2.54% |
Volatility |  |  | 63.53-67.92% |  |  |  | 61.25-64.49% |
Term (in years) |  |  | 6-6.8 |  |  |  | 5.5-6.5 |
Dividend yield |  |  | 0.00% |  |  |  | 0.00% |
A summary of option activity under the 2009, 2012 and 2019 Plans and related information during the nine months ended September 30, 2020 is as follows | A summary of option activity under the 2009, 2012 and 2019 Plans and related information during the nine months ended September 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 |  |  | (1,182,195 | ) |  | $ | 0.23 |  |  |  |  |  |  | $ | 1,738,740 |
Expired |  |  | (361,109 | ) |  | $ | 3.66 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (330,250 | ) |  | $ | 3.69 |  |  |  |  |  |  |  |  |
Balance at September 30, 2020 |  |  | 23,893,180 |  |  | $ | 4.80 |  |  |  | 5.46 |  |  | $ | 379,535 |
Vested and Exercisable at September 30, 2020 |  |  | 19,827,306 |  |  | $ | 5.06 |  |  |  | 4.83 |  |  | $ | 218,370 |
Unvested at September 30, 2020 |  |  | 4,065,874 |  |  | $ | 3.55 |  |  |  | 8.53 |  |  | $ | 161,165 |
Schedule of restricted stock units and performance stock units | 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 September 30, 2020 |  |  |  | 6,029,957 |  |  | $ | 1.83 |  |  |  | 2,422,885 | * |  | $ | 1.08 |
* |  | The number of performance stock units (PSUs) represents the base number of PSUs that may vest. The actual number of PSUs that will vest will be between zero and two times the base number of PSUs depending on the Company's achievement of break-even quarterly EBITDA.

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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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