XML 53 R41.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock option activity for the years ended December 31, 2022 and 2021, are as follows:



	Shares	Weighted-Average Exercise Price		Weighted-Average Fair Value
Outstanding as of December 31, 2020	3,660,000
Granted	1,448,959	$	1.07	$	0.88

Forfeited	(777,084)	1.02		0.52
Expired	(50,000)	0.52		0.52
Outstanding as of December 31, 2021	4,281,875



Expired	(120,000)	$	0.72	$	0.10
Outstanding as of December 31, 2022	4,161,875

Vested or expected to vest at December 31, 2022	3,889,147

The below table shows the aggregate intrinsic value and weighted average remaining contractual term of share options outstanding, currently exercisable and vested or expected to vest.


	Share Options Outstanding		Share Options Currently Exercisable		Share Options Vested or Expected to Vest
Number	4,161,875		840,000		3,889,147
Weighted-average exercise price	$	1.19	$	1.28	$	1.19
Aggregate intrinsic value ($000’s)	121		24		114
Weighted-average remaining contractual term in years	3.41		2.15		3.43

Schedule of valuation assumptions

The key inputs into the Black-Scholes Option Pricing Model used to estimate the fair value of the Pre-Funded Warrants as of the issuance on June 21, 2022 were as follows:


Risk-free interest rate			3.21%
Expected volatility			90.0%
Term until liquidation (years)			2.00
Stock price			$1.11
Strike price (exercise fee)			$4.5 million

The following table sets forth significant assumptions used in the Monte Carlo model for market-based options to determine the fair value of the options at the date of grant for the year ended December 31, 2021. There were no options granted during the year ended December 31, 2022.


	Year Ended December 31, 2021
Risk-free interest rate	1.61	%
Expected volatility of common stock	90.00	%
Expected life of options in years	10

Dividend yield	—	%

Schedule of restricted stock activity

Restricted stock share activity for the years ended December 31, 2022 and 2021, are as follows:


Restricted Stock Shares	Shares	Weighted- Average Fair Value at Date of Grant
Non-vested at December 31, 2020	2,795,100	$	1.00
Granted	1,702,289	1.73
Vested	(1,453,854)	1.24
Forfeited	(1,275,172)	1.36
Non-vested at December 31, 2021	1,768,363	1.61
Granted	1,532,926	1.32
Vested	(967,684)	1.77
Forfeited	(33,926)	1.69
Non-vested at December 31, 2022	2,299,679	$	1.37

Schedule of restricted stock unit activity

Restricted stock units activity for the years ended December 31, 2022 and 2021, are as follows:


Restricted Stock Units	Units		Weighted- Average Fair Value at Date of Grant
RSUs at December 31, 2020	1,141,144		$	2.30
Vested	(186,901)		—
Forfeited	(184,173)		2.61
RSUs at December 31, 2021	770,070		1.91
Vested	(500,868)		1.90
Forfeited	$	(41,202)	1.92
RSUs at December 31, 2022	228,000		$	1.93