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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