Annual report pursuant to Section 13 and 15(d)

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

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STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Option Activity
Stock Options

A summary of the Company's stock option activity during the year ended December 31, 2023 is below:
Shares Weighted average exercise price
Outstanding at January 1, 2023 36,504,673 $ 0.82 
Granted 1,100,000 $ 0.43 
Exercised (487,752) $ 0.23 
Forfeited (700,000) $ 1.49 
Expired (817,500) $ 1.85 
Outstanding at December 31, 2023 35,599,421 $ 0.78 
Schedule of Fair Value Assumptions of Options
The grant date fair values of stock options granted in the year ended December 31, 2023 were estimated using the Black-Scholes valuation model with the following assumptions:

Estimated life (in years)
3.00 to 3.26
Weighted average volatility 99.22  %
Weighted average risk-free interest rate 3.59  %
Dividend yield — 
Schedule of Activity Related to RSUs
The activity related to the Company's RSUs for the year ended December 31, 2023 was as follows:
RSUs Weighted average grant date fair value
Unvested at January 1, 2023 1,599,999 $ 0.53 
Granted 4,962,538 $ 0.40 
Vested (599,999) $ 0.53 
Forfeited (137,000) $ 0.44 
Outstanding at December 31, 2023 5,825,538 $ 0.42