STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2020

STOCKHOLDERS' EQUITY

Summary of the Company's option activity

A summary of the Company’s option activity and related information follows:

	Number of	Option Price		Weighted-Average
	Shares	Per Share		Exercise Price
Options Outstanding at January 1, 2020	—	$	—	$	—
Granted	12,500	$	5.00	$	5.00
Expired/cancelled	(750)
Options Outstanding, September 30, 2020	11,750	$	5.00	$	5.00
Options exercisable, September 30, 2020	375	$	5.00	$	5.00

Summary of weighted average fair value of options granted, and the assumptions used in the Black-Scholes model

The weighted average fair value of options granted, and the assumptions used in the Black-Scholes model during the year ended September 30, 2020 are set forth in the table below.

	2020
Weighted average fair value of options granted	$	5.00
Risk-free interest rate		0.31-0.37	%
Volatility		41.4-46.7	%
Expected life (years)		5.50
Dividend yield		—	%

Summary of the Company's warrant activity

A summary of the Company’s warrant activity and related information follows:

	Number of	Option Price		Weighted-Average
	Shares	Per Share		Exercise Price
Warrants Outstanding at January 1, 2020	—	$	—	$	—
Granted	85,000	$	5.00	$	5.00
Expired	—
Warrants Outstanding, September 30, 2020	85,000	$	5.00	$	5.00
Warrants exercisable, September 30, 2020	85,000	$	5.00	$	5.00

Summary of weighted average fair value of warrants granted, and the assumptions used in the Black-Scholes model

The weighted average fair value of warrants granted, and the assumptions used in the Black-Scholes model during the year ended September 30, 2020 are set forth in the table below.

	2020
Weighted average fair value of options granted	$	5.00
Risk-free interest rate		0.37-0.89	%
Volatility		36.5-41.4	%
Expected life (years)		2.50
Dividend yield		—	%