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STOCKHOLDERS' EQUITY, SHARE-BASED COMPENSATION AND NET LOSS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2020
Stockholders' Equity Note [Abstract]  
Summary of Fair Value of Stock Option Awards We estimate the fair value of stock option awards using the BSM Model. During the year ended December 31, 2019 (we did not grant any stock options during the year ended December 31, 2020), we applied the following weighted-average assumptions:
Expected term in years6.0
Expected volatility70 %
Expected dividends— %
Risk-free interest rate1.86 %
Summary of Activity Under Equity Incentive Plans
The following table summarizes activity under our equity incentive plans related to equity-classified stock option grants as of December 31, 2020, and changes during the twelve months ended:
SharesWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 202010,359,079 $4.20 
Granted— — 
Exercised(150,989)0.87 
Forfeited, cancelled or expired(265,749)2.77 
Outstanding at December 31, 20209,942,341 $4.29 5.7$709 
Options exercisable at December 31, 20209,781,466 $4.35 5.7$509 


The following table summarizes the status of non-vested stock options as of December 31, 2020, and changes during the year then ended:
SharesWeighted-Average
Grant-Date Fair Value
Non-vested at January 1, 2020610,187 $241 
Granted— — 
Vested(399,188)168 
Forfeited(50,124)53 
Non-vested at December 31, 2020160,875 $68 
The following table summarizes activity under our equity incentive plans related to the China Cash Bonuses as of December 31, 2020, and changes during the twelve months then ended:
SharesWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 20201,098,750 $5.20 
Granted300,000 1.37 
Forfeited, cancelled or expired(343,750)5.52 
Outstanding at December 31, 20201,055,000 $4.01 6.4$200 
Cash awards exercisable at December 31, 2020775,000 $4.97 5.3$51 
Summary of Share-based Payment Arrangement By Share-based Payment Award, Liability Activity The following table presents the change in the liability balance associated with the China Cash Bonuses (in thousands):
Year Ended December 31,
20202019
Balance at beginning of period
$43 $149 
Increase (decrease) in share-based compensation cost
637 (106)
Balance at end of period
$680 $43 
Summary of Share-based Compensation Cost The following table presents a breakdown of share-based compensation cost included in operating expense (in thousands):
Year Ended December 31,
20202019
Stock options$160 $425 
China Cash Bonuses637 (106)
Total$797 $319 
Summary of Unrecognized Share-based Compensation Cost The following table presents information regarding unrecognized share-based compensation cost associated with stock options and China Cash Bonuses:
December 31, 2020
Unrecognized share-based compensation cost for non-vested awards (in thousands):
Stock options28 
China Cash Bonuses374 
Weighted-average years over which unrecognized share-based compensation expense will be recognized:
Stock options0.3
China Cash Bonuses5.0