Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS??? EQUITY AND STOCK-BASED COMPENSATION (Tables)

v3.22.4
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement, Option, Activity
Stock Options

A summary of the Company's stock option activity during the year ended December 31, 2022 is below:
Shares Weighted average exercise price
Outstanding at January 1, 2022 39,821,671 $ 1.10 
Granted 805,500 $ 0.61 
Exercised (367,248) $ 0.22 
Forfeited (1,455,250) $ 1.00 
Expired (2,300,000) $ 2.24 
Outstanding at December 31, 2022 36,504,673 $ 0.82 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The grant date fair values of stock options granted in the year ended December 31, 2022 were estimated using the Black-Scholes valuation model with the following assumptions:

Estimated life (in years) 5.0
Weighted average volatility 93.24  %
Weighted average risk-free interest rate 3.18  %
Dividend yield —