STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
STOCK-BASED COMPENSATION [Abstract] |
|
Information Regarding Equity Incentive Plan |
The information regarding the 2020 Plan
below is presented as though the combination occurred as of the beginning of the periods presented.
| |
Number of Restricted
Shares and Units
|
|
|
Weighted Average
Grant Date Fair Value
Per Share
|
|
Unvested at January 1, 2021
|
|
|
1,699,676 |
|
|
$ |
1.28 |
|
|
|
|
|
|
|
|
11.71
|
|
Vested
|
|
|
(907,545
|
)
|
|
|
0.03
|
|
|
|
|
(100,000 |
) |
|
|
12.18 |
|
Unvested at December 31, 2021
|
|
|
1,146,131
|
|
|
|
3.28
|
|
|
|
|
—
|
|
|
|
—
|
|
Vested
|
|
|
(474,768
|
)
|
|
|
2.60
|
|
|
|
|
(120,105 |
) |
|
|
0.59 |
|
Unvested at December 31, 2022
|
|
|
551,258
|
|
|
$
|
4.48
|
|
|
Fair Value of Stock Option Assumptions |
The assumptions at December 31, 2022 and December 31, 2021 are as follows:
|
December 31, |
|
December 31,
|
|
|
2022 |
|
2021
|
|
Exercise Price
|
|
$ |
2.00
to $51.80 |
|
|
$
|
2.00 to $51.80
|
|
Fair value of Company common stock
|
|
$ |
2.98 to $15.61 |
|
|
$
|
7.85 to $22.90
|
|
Dividend yield
|
|
|
0%
|
|
|
|
0%
|
|
Expected volatility
|
83% to 188% |
|
117% to 188%
|
|
Risk Free interest rate
|
0.27% to 4.52% |
|
0.27% to 1.59%
|
|
Expected life (years) remaining
|
0.01 to 9.62 |
|
0.84 to 10.00
|
|
|
Stock Option Activity |
Stock option activity for the years ended December 31, 2022 and 2021 is as follows:
|
|
Shares Underlying
Options
|
|
|
Weighted Average
Exercise Price
|
|
|
Weighted Average
Remaining
Contractual Term
(in years)
|
|
Outstanding at January 1, 2021
|
|
|
—
|
|
|
$
|
—
|
|
|
|
—
|
|
Options assumed in Helix Merger
|
|
|
455,089
|
|
|
$
|
15.13
|
|
|
|
3.24
|
|
Granted
|
|
|
3,893,714
|
|
|
$
|
12.73
|
|
|
|
9.31
|
|
Exercised
|
|
|
(29,937
|
)
|
|
$
|
6.03
|
|
|
|
1.02
|
|
Forfeited and expired
|
|
|
(271,893
|
)
|
|
$
|
7.31
|
|
|
|
6.65
|
|
Outstanding at December 31, 2021
|
|
|
4,046,973
|
|
|
$
|
14.25
|
|
|
|
8.75
|
|
Granted |
|
|
1,203,250 |
|
|
$ |
4.02 |
|
|
|
9.14 |
|
Exercised |
|
|
(33,334 |
) |
|
$ |
2.47 |
|
|
|
2.55 |
|
Forfeited and expired |
|
|
(1,233,081 |
) |
|
$ |
13.87 |
|
|
|
8.12 |
|
Outstanding at December 31, 2022 |
|
|
3,983,808 |
|
|
$ |
10.53 |
|
|
|
8.23 |
|
Vested options at December 31, 2022
|
|
|
1,844,890
|
|
|
$
|
13.51
|
|
|
|
8.57
|
|
|
Stock Compensation Expense |
Stock compensation expense for the years ended December 31, 2022 and 2021 is as follows:
|
|
For the Years Ended December 31,
|
|
|
|
2022
|
|
|
2021
|
|
Services
|
|
$
|
150,696
|
|
|
$
|
36,013
|
|
Research and development
|
|
|
449,835
|
|
|
|
136,936
|
|
Sales and marketing
|
|
|
409,076
|
|
|
|
451,846
|
|
General and administrative
|
|
|
6,883,938
|
|
|
|
8,675,648
|
|
Separation expenses
|
|
|
5,417,043 |
|
|
|
— |
|
Total
|
|
$
|
13,310,588
|
|
|
$
|
9,300,443
|
|
|