STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| Schedule of fair value of the stock options granted Black-Scholes option valuation model |
The risk-free interest rate was selected based upon yields of the U.S. Treasury issues with a term equal to the expected
life of the option being valued.
| |
|
December
31, 2019 |
|
December
31, 2018 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
0.00% |
|
| Expected Volatility |
|
|
56.1-60.3% |
|
|
61.1%-65.2% |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
10 Years |
|
|
5-10 Years |
|
| Risk-free rate |
|
|
1.60-2.72% |
|
|
2.8%-3.15% |
|
|
| Schedule of stock option plan |
The following table summarizes
the status of the Company’s stock option plan:
| |
|
December
31, 2019 |
|
December
31, 2018 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
|
2,419,000 |
|
$ |
1.00 |
|
|
1,038,000 |
|
$ |
0.41 |
|
| Granted |
|
|
1,650,000 |
|
$ |
1.92 |
|
|
1,518,000 |
|
$ |
1.34 |
|
| Exercised |
|
|
160,000 |
|
$ |
0.37 |
|
|
125,000 |
|
$ |
0.41 |
|
| Forfeited |
|
|
262,000 |
|
$ |
2.74 |
|
|
12,000 |
|
$ |
0.87 |
|
| Outstanding at year end |
|
|
3,647,000 |
|
$ |
1.32 |
|
|
2,419,000 |
|
$ |
1.00 |
|
| Options exercisable |
|
|
1,078,510 |
|
$ |
0.82 |
|
|
785,094 |
|
$ |
0.55 |
|
| Weighted
average fair value of options granted during the period |
|
|
|
|
$ |
1.33 |
|
|
|
|
$ |
0.83 |
|
| Stock-based compensation expense |
|
|
|
|
$ |
594,956 |
|
|
|
|
$ |
248,040 |
|
|
| Schedule of information pertaining to options outstanding |
The following table presents information
pertaining to options outstanding as of December 31, 2019:
| Range
of Exercise Price |
|
Number
Outstanding |
|
Weighted
Average
Remaining
Contractual
Life |
|
Weighted
Average
Exercise
Price |
|
Number
Exercisable |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $0.38-3.15 |
|
3,647,000 |
|
6.0 years |
|
$ |
1.32 |
|
1,078,510 |
|
$ |
0.82 |
|
|
| Schedule of performance base share options |
The risk-free interest rate was selected based upon yields of the U.S. Treasury issues with a term equal to the expected
life of the option being valued.
| |
|
December
31, |
|
| |
|
2019 |
|
2018 |
|
| |
|
|
|
|
|
|
|
| Dividend yield |
|
|
0.00% |
|
|
— |
|
| Expected Volatility |
|
|
58.9% |
|
|
— |
|
| Weighted-average volatility |
|
|
— |
|
|
— |
|
| Expected dividends |
|
|
— |
|
|
— |
|
| Expected term (in years) |
|
|
10 Years |
|
|
— |
|
| Risk-free rate |
|
|
2.07% |
|
|
— |
|
|
| Schedule of performance base options outstanding |
The following table summarizes
the status of the Plan with respect to performance-based stock options:
| |
|
December
31, |
|
| |
|
2019 |
|
2018 |
|
| |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
Shares |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding at January 1 |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Granted |
|
1,000,000 |
|
$ |
1.70 |
|
|
— |
|
$ |
— |
|
| Exercised |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Forfeited |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Outstanding at year end |
|
1,000,000 |
|
$ |
1.70 |
|
|
— |
|
$ |
— |
|
| Options exercisable |
|
— |
|
$ |
— |
|
|
— |
|
$ |
— |
|
| Weighted
average fair value of options granted during the period |
|
— |
|
$ |
1.16 |
|
|
— |
|
$ |
— |
|
| Stock-based compensation expense |
|
— |
|
$ |
293,363 |
|
|
— |
|
$ |
— |
|
|
| Schedule of information pertaining to performance base options outstanding |
The following table presents information
pertaining to performance-based options outstanding as of December 31, 2019:
| Range
of Exercise Price |
|
Number
Outstanding |
|
Weighted
Average
Remaining
Contractual
Life |
|
Weighted
Average
Exercise
Price |
|
Number
Exercisable |
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $1.70 |
|
1,000,000 |
|
10 years |
|
$ |
1.70 |
|
— |
|
$ |
— |
|
|