OWNERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stock Options Activity

A rollforward of stock options as of September 30, 2020 is as follows:

	Number of Stock Options			Weighted Average Grant Date Fair Value		Weighted Average Exercise Price
Total outstanding at December 31, 2019		5,500,000		$	0.34	$	1.20
Options granted		—			—		—
Options exercisable		—			—		—
Options exercised		—			—		—
Options forfeited		(225,000	)		0.34		1.20
Options expired		—			—		—
Total outstanding at September 30, 2020		5,275,000		$	0.34	$	1.20

Assumptions in Fair Value of Stock Options Granted

Assumptions used in calculating the fair value of the stock options granted are summarized below:

	2019 Options Granted
Valuation assumptions:
Expected dividend yield	None
Expected volatility		23.41	%
Expected term (years)		6.0
Risk-free interest rate		1.78	%
Weighted average:
Exercise price per stock option	$	1.20
Market price per share	$	1.23
Weighted average fair value per stock option	$	0.34

Phantom and Restricted Unit Awards

A rollforward of phantom unit and restricted unit awards as of September 30, 2020 is as follows:

	Number of Phantom Unit and Restricted Unit Awards			Weighted Average Grant Date Fair Value
Total non-vested at December 31, 2019		559,218		$	3.67
Units issued		82,658			0.73
Units vested		(140,625	)		3.88
Units forfeited		—			—
Total non-vested at September 30, 2020		501,251		$	3.12