v3.22.1
SHARE-BASED PAYMENTS (Tables)
12 Months Ended
Dec. 31, 2021
SHARE-BASED PAYMENTS  
Schedule of fair value measurement inputs and valuation techniques

    

Year Ended

 

December 31, 

 

2020

 

Risk Free Interest Rate

 

1.54 - 1.59

%

Expected Dividend Yield

 

0.00

%

Expected Volatility

 

58.0 - 100

%

Expected Life (years)

 

5 - 10

Summary of information related to common stock and preferred stock warrants

    

Common

    

Weighted

Stock

Average

Warrants

Exercise Price

Outstanding - December 31, 2019

 

417,962

$

2.81

Granted

 

496,577

 

2.52

Exercised

Forfeited

Outstanding - December 31, 2020

914,539

$

2.66

Granted

3,012,048

4.58

Conversion of preferred stock warrants upon IPO

51,642

7.66

Exercised

 

(386,881)

 

4.57

Forfeited

 

(11,232)

 

7.66

Outstanding - December 31, 2021

 

3,580,116

$

4.12

Exercisable at December 31, 2020

914,539

$

2.66

Exercisable at December 31, 2021

 

3,580,116

$

4.12

    

Preferred

    

Weighted

Stock

Average

Warrants

Exercise Price

Outstanding - December 31, 2019

 

806,903

$

0.49

Outstanding - December 31, 2020

806,903

$

0.49

Converted to common stock warrants upon IPO

(806,903)

0.49

Exercised

 

 

Forfeited

 

 

Outstanding – December 31, 2021

 

$

Exercisable at December 31, 2021

 

$

Summary of information related to stock options under stock plan

    

    

Weighted

Average

Options

Exercise Price

Outstanding - December 31, 2019

 

1,084,215

$

2.50

Granted

 

91,688

 

0.94

Exercised

 

 

Forfeited

 

(12,800)

$

3.28

Outstanding - December 31, 2020

1,163,103

$

2.34

Granted

2,732,000

4.15

Exercised

Forfeited

Outstanding - December 31, 2021

 

3,895,103

$

3.62

Exercisable at December 31, 2020

880,955

$

2.34

Exercisable at December 31, 2021

 

3,164,624

$

3.59

Weighted average duration (years) to expiration of outstanding options at December 31, 2021

 

8.00

 

  

Schedule of assumptions utilized for option grants

Year Ended

 

December 31,

 

    

2021

2020

 

Risk Free Interest Rate

 

0.34% - 0.85

%  

0.42% - 0.51

%

Expected Dividend Yield

 

0.00

%  

0.00

%

Expected Volatility

 

58.00

%  

58.00

%

Expected Life (years)

 

5.18

 

6.25