Annual report pursuant to Section 13 and 15(d)

STOCK OPTIONS AND WARRANTS (Details 2)

v3.21.1
STOCK OPTIONS AND WARRANTS (Details 2) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Volatility 85.00% 123.00%
Risk free Rate 1.30% 2.80%
Dividend Yield 0.00% 0.00%
Suboptimal Exercise Factor [1] 0.00% 130.00%
Exit Rate Pre-Vesting [2] 0.00% 0.00%
Exit Rate Post Vesting [3] 0.00% 0.00%
Aggregate Grant Date Fair value $ 533,538 $ 326,644
Minimum    
Expected Term (in Years) 3 years 2 years
Maximum    
Expected Term (in Years) 5 years 5 years
[1] The suboptimal exercise factor estimates the value realized by the holder upon exercise of the option and the estimated point at which an option holder would exercise an in-the-money option. The Company estimated the suboptimal factor based on the holder realizing a pre-tax profit of $50,000. Used for lattice model purposes only.
[2] Assumed forfeiture rate for market condition option awards prior to vesting. Used for lattice model purposes only.
[3] Assumed expiration or forfeiture rate for market condition option awards after vesting. Used for lattice model purposes only.