XML 26 R16.htm IDEA: XBRL DOCUMENT
v3.22.2.2

STOCK-BASED COMPENSATION | 9 Months Ended
--- | ---
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | NOTE 9 – STOCK-BASED COMPENSATION Stock-based compensation expense for the nine months ended September 30, 2022, and 2021 was $1,860,767 and $1,096,441, respectively, based on the vesting schedule of the stock grants and options. Stock-based compensation expense for the three months ended September 30, 2022 and 2021 was $96,767 and $506,034, respectively, based on the vesting schedule of the stock grants and options. No cash flow effects are anticipated for stock grants. The following schedule shows stock grant activity for the nine months ended September 30, 2022: SCHEDULE OF STOCK GRANT ACTIVITY
|  |  | Number of shares |
Grants unissued as of December 31, 2021 |  |  | 153,673 |
Issued |  |  | 542,584 |
Forfeiture/Cancelled |  |  | (139,226 | )
Grants Vested |  |  | (62,172 | )
Grants unissued as of September 30, 2022 |  |  | 494,859 |
As of September 30, 2022, the Company has $2.3 million in unrecognized stock-based compensation expense related to these stock grants. The following schedule shows stock option activity for the nine months ended September 30, 2022. SCHEDULE OF STOCK GRANT VESTING PERIODS
|  | Number of Shares |  |  | Weighted Average Remaining Life (Years) |  |  | Weighted Average Exercise Price |
Stock options outstanding as of December 31, 2021 |  |  | 641,337 |  |  |  | 7.55 |  |  | $ | 6.27 |
Issued |  |  | 76,246 |  |  |  | 9.20 |  |  | $ | 10.48 |
Forfeiture/Expired |  |  | (40,982 | ) |  |  | 6.81 |  |  | $ | 6.05 |
Exercised |  |  | (4,555 | ) |  |  | - |  |  | $ | 6.00 |
Stock options outstanding as of September 30, 2022 |  |  | 672,046 |  |  |  | 7.83 |  |  | $ | 6.76 |
Stock options exercisable as of September 30, 2022 |  |  | 462,798 |  |  |  | 7.01 |  |  | $ | 5.66 |
The fair value of the options is calculated using the Black-Scholes pricing model based on the market value of the underlying common stock at the valuation measurement date of $10.48, the remaining contractual term of the options of 10 years, risk-free interest rate of 1.61% and expected volatility of the price of the underlying common stock of 100%. As of September 30, 2022, the Company has $0.3 million in unrecognized stock-based compensation expense related to these stock options. The aggregate intrinsic value of the options outstanding and exercisable at September 30, 2022 is $0.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration