Annual report pursuant to Section 13 and 15(d)

STOCK OPTIONS AND WARRANTS (Tables)

v3.22.1
STOCK OPTIONS AND WARRANTS (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure Text Block [Abstract]  
Summary of option award activity and awards outstanding A summary of the option award activity in 2021 and awards outstanding at December 31, 2021 (includes 100,000, 17,975,714 and 1,571,806 options under the 2010 Equity Incentive Plan, the non-plan and the 2020 Plan, respectively) is as follows:
 
 
Shares Under
Option
 
 
Weighted Average
Exercise Price
 
 
Weighted Average
Remaining
Contractual Life
(Years)
 
 
Aggregate Intrinsic
Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2019
 
 
19,902,732
 
 
$
0.16
 
 
 
3.60
 
 
$
14,360,463
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
1,554,500
 
 
 
0.75
 
 
 
 
 
 
 
-
 
Exercised
 
 
(1,447,018
)
 
 
0.06
 
 
 
 
 
 
 
-
 
Forfeited
 
 
(600,000
)
 
 
0.75
 
 
 
 
 
 
 
-
 
Expired
 
 
(180,000
)
 
 
0.10
 
 
 
 
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2020
 
 
19,230,214
 
 
$
0.16
 
 
 
2
.
81
 
 
$
30,044,649
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested and exercisable at December 31, 2020
 
 
17,913,083
 
 
$
0.16
 
 
 
2.90
 
 
$
28,160,815
 

 
 
Shares Under
Option
 
 
Weighted Average
Exercise Price
 
 
Weighted Average
Remaining
Contractual Life
(Years)
 
 
Aggregate Intrinsic
Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2020
 
 
19,230,214
 
 
$
0.16
 
 
 
2.81
 
 
$
30,044,649
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
543,240
 
 
 
5.58
 
 
 
 
 
 
 
-
 
Exercised
 
 
(112,432
 )
 
 
0.04
 
 
 
 
 
 
 
616,314
 
Forfeited
 
 
(109,878
 )
 
 
5.63
 
 
 
 
 
 
 
-
 
Expired
 
 
(3,624
)
 
 
4.76
 
 
 
 
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2021
 
 
19,547,520
 
 
$
0.36
 
 
 
2.11
 
 
$
87,636,744
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested and exercisable at December 31, 2021
 
 
18,743,542
 
 
$
0.25
 
 
 
2.04
 
 
$
85,801,930
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of stock option grants with only continued service conditions for vesting is estimated on the grant date using a Black-Scholes option pricing model. The following table illustrates the assumptions used in estimating the fair value of options granted during the
year ended December 31, 2021:
 
 
 
 
 
Expected Term (in Years)
 
 
3.278
 
Volatility
 
 
85.766
%
Risk Free Rate
 
 
0.511
%
Dividend Yield
 
 
0
%
Aggregate Grant Date Fair Value
 
$
1,758,816