NOTE 11 – STOCKHOLDERS’ EQUITY (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below.

The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below.

	March 31, 2020			March 31, 2019
Weighted average grant date fair value	$	0.98		$	3.35
Risk-free interest rate		1.32-1.68	%		2.54	%
Volatility		63.53-65.72	%		61.85	%
Term (in years)		6-6.7			6.25
Dividend yield		0.00	%		0.00	%

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows:

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows:

	Number of Shares Under Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2019		25,030,234		$	4.65		5.84	$	3,668,171
Granted		636,500		$	1.64
Exercised		(350,666	)	$	0.21			$	725,199
Expired		(50,472	)	$	0.41
Cancelled/Forfeited		(110,375	)	$	4.48
Balance at March 31, 2020		25,155,221		$	4.65		5.77	$	787,178
Vested and Exercisable at March 31, 2020		19,258,556		$	5.02		4.77	$	787,178
Unvested at March 31, 2020		5,896,665		$	3.42		9.05	$	—

Restricted stock and performance stock awards

	Restricted Stock Awards				Performance Stock Awards
	Number of Shares			Weighted Average Grant Date Fair Value	Number of Shares		Weighted Average Grant Date Fair Value
Balance at December 31, 2019	1,240,000		$	3.56	—		—
Granted	3,384,245		$	1.50	2,384,245	$	1.07
Vested/Released	(150,000	)	$	2.42	—		—
Forfeited	—			—	—		—
Balance at March 31, 2020	4,474,245		$	2.04	2,384,245	$	1.07