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STOCKHOLDERS’ EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Summary of our Warrant activity during the year ended December 31, 2020: | Summary of our Warrant activity during the year ended December 31, 2020:
|  | Number of Shares Under Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value |
Balance at December 31, 2019 |  |  | 1,832,571 |  |  | $ | 2.62 |  |  |  | 1.95 |  |  | $ | 2,447,929 |
Granted |  |  | 4,752,116 |  |  | $ | 1.19 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |
Expired |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (50,000 | ) |  | $ | 6.35 |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  | 6,534,687 |  |  | $ | 1.55 |  |  |  | 7.25 |  |  | $ | 1,041,219 |
Vested and Exercisable at December 31, 2020 |  |  | 6,534,687 |  |  | $ | 1.55 |  |  |  | 7.25 |  |  | $ | 1,041,219 |
Unvested at December 31, 2020 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2020, 2019, and 2018 are set forth in the table below. | The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2020, 2019, and 2018 are set forth in the table below.
|  | 2020 |  |  | 2019 |  |  | 2018 |
Weighted average exercise price |  | $ | 1.19 |  |  | $ | 5.63 |  |  | $ | 5.16 |
Weighted average grant date fair value |  | $ | 1.56 |  |  | $ | 3.00 |  |  | $ | 2.79 |
Risk-free interest rate |  |  | 0.34 | % |  |  | 2.52 | % |  |  | 2.36 | %
Volatility |  |  | 68.8 | % |  |  | 60.8 | % |  |  | 62.12 | %
Term (in years) |  |  | 10 |  |  |  | 5 |  |  |  | 5 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
The ranges of assumptions used in the Black-Scholes Model during the years ended December 31, 2020, 2019, and 2018 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 years ended December 31, 2020, 2019, and 2018 are set forth in the table below.
|  | 2020 |  |  | 2019 |  |  | 2018 |
Weighted average exercise price |  | $ | 1.58 |  |  | $ | 3.10 |  |  | $ | 5.45 |
Weighted average grant date fair value |  | $ | 0.95 |  |  | $ | 1.82 |  |  | $ | 3.24 |
Risk-free interest rate |  |  | 0.34-1.68% |  |  |  | 1.64-2.54% |  |  |  | 2.38-2.89% |
Volatility |  |  | 63.53-67.92% |  |  |  | 61.25-64.49% |  |  |  | 59.45-64.04% |
Term (in years) |  |  | 6-6.8 |  |  |  | 5.5-6.5 |  |  |  | 5.1-6.25 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 2020 is as follows: | A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 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 |  |  | (386,609 | ) |  | $ | 3.76 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (416,000 | ) |  | $ | 3.80 |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  | 23,781,930 |  |  | $ | 4.80 |  |  |  | 5.20 |  |  | $ | 152,253 |
Vested and Exercisable at December 31, 2020 |  |  | 19,862,681 |  |  | $ | 5.06 |  |  |  | 4.59 |  |  | $ | 117,443 |
Unvested at December 31, 2020 |  |  | 3,919,249 |  |  | $ | 3.53 |  |  |  | 8.29 |  |  | $ | 34,810 |
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 |  |  | 6,152,818 |  |  | $ | 1.39 |  |  |  | 2,585,745 |  |  | $ | 1.08 |
Vested/Released |  |  | (301,500 | ) |  | $ | 1.78 |  |  |  | (151,500 | ) |  | $ | 1.14 |
Forfeited |  |  | (30,294 | ) |  | $ | 1.07 |  |  |  | (30,294 | ) |  | $ | 1.07 |
Balance at December 31, 2020 |  |  | 7,061,024 |  |  | $ | 1.76 |  |  |  | 2,403,951 | * |  | $ | 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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