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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

SUMMARY OF STOCK OPTIONS OUTSTANDING

Activity in the various Plans during the nine months ended September 30, 2021:

 SUMMARY OF STOCK OPTIONS OUTSTANDING

Options		Number of Shares				Weighted Average Exercise Price
Outstanding at December 31, 2020			838,313			$	3.20
Granted			300,000				1.67
Exercised			—				—
Forfeited			(46,875	)			(12.13	)
Outstanding at September 30, 2021			1,091,438			$	2.39
Exercisable at September 30, 2021			866,438			$	2.58

SCHEDULE OF STOCK OPTION PLANS BY FAIR VALUE ASSUMPTION

SCHEDULE OF STOCK OPTION PLANS BY FAIR VALUE ASSUMPTION

Volatility – range			113.47	%
Risk-free rate			1.3	%
Contractual term			10.0 years
Exercise price		$	1.67

SCHEDULE OF SHARES AUTHORIZED UNDER STOCK OPTION PLANS BY EXERCISE PRICE RANGE

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable options under the Company’s option plans as of September 30, 2021:

SCHEDULE OF SHARES AUTHORIZED UNDER STOCK OPTION PLANS BY EXERCISE PRICE RANGE

				Outstanding options								Exercisable options
Exercise price range				Number of options				Weighted average remaining contractual life				Number of  options				Weighted average remaining contractual life
$	0.01 to $2.49				715,000				8.8 years				490,000				8.4 years
$	2.50 to $3.49				310,313				6.6 years				310,313				6.6 years
$	3.50 to $4.49				45,750				3.4 years				45,750				3.4 years
$	4.50 to $6.99				15,000				0.3 years				15,000				0.3 years
$	7.00 to $9.52				5,375				0.1 years				5,375				0.1 years
					1,091,438				7.8 years				866,438				7.3 years

SUMMARY OF RESTRICTED STOCK ACTIVITY

A summary of all restricted stock activity under the equity compensation plans for the nine months ended September 30, 2021 is as follows:

 SUMMARY OF RESTRICTED STOCK ACTIVITY

		Number of Restricted shares				Weighted average grant date fair value
Nonvested balance, December 31, 2020			720,125			$	1.69
Granted			856,000				2.07
Vested			(505,250	)			(1.95	)
Forfeited			(7,500	)			(1.08	)
Nonvested balance, September 30, 2021			1,063,375			$	1.87

SCHEDULE OF NON- VESTED BALANCE OF RESTRICTED STOCK

The nonvested balance of restricted stock vests as follows:

 SCHEDULE OF NON- VESTED BALANCE OF RESTRICTED STOCK

Years ended		Number of shares
2021 (October 1, 2021 through December 31, 2021)			6,000
2022			585,375
2023			358,000
2024			54,000
2025			30,000
2026			30,000

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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.

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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.

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