Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.2.u1
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Option Activity
A summary of the Company's stock option activity during the six months ended June 30, 2024 is below:
Shares Weighted average exercise price
Outstanding at January 1, 2024 35,599,421 $ 0.78 
Granted 60,000 $ 0.14 
Exercised $ — 
Forfeited (3,750) $ 0.44 
Expired (81,250) $ 0.81 
Outstanding at June 30, 2024 35,574,421 $ 0.78 
Schedule of Fair Value Assumptions of Options
The grant date fair value of the stock options granted in the six months ended June 30, 2024 was estimated using the Black-Scholes valuation model with the following assumptions:

Estimated life (in years)
1.18
Weighted average volatility 64.81%
Weighted average risk-free interest rate 5.12%
Dividend yield
Schedule of Activity Related to RSUs
The activity related to the Company's RSUs for the six months ended June 30, 2024 was as follows:
RSUs Weighted average grant date fair value
Unvested at January 1, 2024 5,825,538 $ 0.42 
Granted 744,056 $ 0.24 
Vested (1,286,007) $ 0.44 
Forfeited (250,487) $ 0.38 
Outstanding at June 30, 2024 5,033,100 $ 0.39