COMMON STOCK

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

COMMON STOCK

6.     COMMON STOCK

At September 30, 2022, the Company's authorized capital stock was 150,000,000 shares of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value $0.001 per share. On that date, the Company had 52,461,382 shares of common stock issued and 52,157,932 shares of common stock outstanding, and no shares of preferred stock outstanding.

Stock-based compensation expense related to Company grants for the three and nine months ended September 30, 2022 was $566,205 and $1,623,994, respectively. Stock-based compensation expense for the three and nine months ended September 30, 2021 was $603,591 and $1,780,726, respectively.

2022 Transactions: During the three and nine months ended September 30, 2022 the Company issued 138,000 and 366,000 shares, respectively, of common stock for vested stock awards and no exercise of stock options. During the three and nine months ended September 30, 2022 the Company also granted 2,430,000 and 2,530,000 restricted stock awards, respectively. Stock awards granted vest over a period of 1one to5 five years.

2021 Transactions: During the three and nine months ended September 30, 2021 the Company issued 493,000 and 1,384,775 shares, respectively, of common stock for vested stock awards and the exercise of stock options and received proceeds of $72,000 and $192,141, respectively.