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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock Option Activity
The following summarizes activity related to the Company's stock options (in thousands, except per share data):
Number of SharesWeighted Average
Exercise Price
Weighted Average
Remaining Contract
Term (in years)
Aggregate Intrinsic Value
Outstanding - December 31, 202025,225$0.48 5.7$2,186 
Granted6,5500.55 — — 
Exercised(2)0.26 — — 
Forfeited(632)0.58 — — 
Outstanding - September 30, 202131,1410.50 5.951 
Exercisable - September 30, 202125,2210.48 5.151 
Vested or expected to vest - September 30, 202131,141$0.50 5.9$51 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table presents the weighted average grant date fair value of stock options granted and the weighted-average assumptions used to estimate the fair value on the date of grant using the Black-Scholes valuation model:
Three months ended September 30,Nine months ended September 30,
2021202020212020
Volatility*132.9%133.7 %132.9 %
Risk-Free Interest Rate*0.4%0.9 %0.5 %
Expected Term (in years)*5.855.615.32
Dividend Rate*—%— %— %
Fair Value Per Share on Grant Date*$0.47$0.49 $0.36 
* there were no grants during the three months ended September 30, 2021.