Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule of Option Activity
A summary of the Company's stock option activity during the nine months ended September 30, 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 (495,000) $ 1.92 
Expired (362,500) $ 1.98 
Outstanding at September 30, 2023 36,259,421 $ 0.79 
Schedule of Fair Value Assumptions of Options
The grant date fair values of stock options granted in the nine months ended September 30, 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 nine months ended September 30, 2023 was as follows:
RSUs Weighted average grant date fair value
Unvested at January 1, 2023 1,599,999 $ 0.53 
Granted 4,355,038 $ 0.41 
Vested (349,999) $ 0.53 
Forfeited (61,000) $ 0.43 
Outstanding at September 30, 2023 5,544,038 $ 0.44