STOCK WARRANTS AND STOCK OPTIONS (Details Narrative) - USD ($)
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1 Months Ended |
12 Months Ended |
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May 04, 2020 |
Aug. 08, 2019 |
Nov. 30, 2020 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Jan. 12, 2022 |
Oct. 31, 2021 |
Sep. 30, 2021 |
Sep. 28, 2021 |
Aug. 17, 2021 |
May 31, 2021 |
Mar. 31, 2021 |
Oct. 31, 2020 |
Jun. 05, 2020 |
Oct. 25, 2019 |
Oct. 24, 2019 |
Jan. 25, 2019 |
Number of warrants outstanding |
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144,317
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144,317
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144,317
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Exercise price of warrants |
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$ 1.039375
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Convertible preferred stock shares sold |
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1,000,000
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Investor relationship service, description |
Under the terms of the agreement, the Company issued warrants to purchase up to 120,000 shares of our common stock at an exercise price of $2.00 per share. The warrants expire five years after the date of issuance. Approximately $220,000 of expense was recognized for the warrants issued for the services provide by the vendor.
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Under the terms of the agreement, the Company issued warrants to purchase up to 120,000 shares of our common stock at an exercise price of $2.00 per share. The warrants expire five years after the date of issuance. Approximately $220,000 of expense was recognized for the warrants issued for the services provide by the vendor.
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Warrants purchased |
320,000
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250,000
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Warrants exercise price |
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$ 0.50
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General and administrative expense |
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$ 3,882,706
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$ 2,003,107
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stock-based compensation expense |
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473,748
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273,443
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Restricted Stock Units [Member] |
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Total Compensation Cost Not Yet Recognized |
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932,493
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Common stock issued for RSUs vested |
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50,000
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Granted service-based RSUs |
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165,000
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Performance based RSUs |
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50,000
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Performance based RSUs vesting period |
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In November 2020, the Company granted 50,000 performance based RSUs to a consultant vesting over a period of one year.
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Granted service based RSUs to executive officer |
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50,000
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125,756
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10,000
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Granted service based RSUs to legal counsel |
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50,000
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stock-based compensation expense |
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364,057
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Weighted average fair value of RSUs granted |
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$ 669,750
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$ 626,800
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Outstanding executive officers stock options exercisable |
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2,470,445
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2,068,551
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Outstanding executive officers stock options exercisable per share |
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$ 3.38
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$ 0.26341
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weighted average remaining contractual life |
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6 years 10 months 24 days
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8 years 8 months 12 days
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Remaining weighted average vesting period |
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1 year
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Unvested RSUs granted to executive officers |
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185,756
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Options acquire shares of common stock |
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24,053
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Options acquire shares of common stock exercise price |
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$ 0.2635
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Options acquire shares of common stock exercise price description |
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The stock options have an exercise price of $0.2635 and vest quarterly over a one-year period commencing January 1, 2020. The stock options have a five-year term.
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Vested options exercised |
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24,053
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Options to acquire shares of common stock |
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24,053
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Options to acquire shares of common stock exercise price |
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$ 0.2635
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Options to acquire shares forfeited |
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24,053
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Restricted Stock Units [Member] | Officer [Member] |
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Stock options vested |
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764,348
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411,572
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Stock options acquire shares of common stock |
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1,058,328
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Stock options acquire shares of common stock exercise price |
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$ 0.2635
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Employment Agreement term |
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The stock options vest in 36 equal monthly installments of 29,398 shares during the term of his Employment Agreement.
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RSUs granted |
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62,878
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RSUs granted per share |
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$ 2.95
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Restricted Stock Units [Member] | Chief Revenue Officer [Member] |
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Stock options to acquire shares of common stock |
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721,588
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Stock options vested |
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761,675
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521,146
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RSUs granted |
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62,878
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Stock options to acquire shares of common stock per share |
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$ 0.2635
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Additional option shares |
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240,529
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Pre-Vesting Option Shares |
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200,439
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Pre-Vesting Option Shares remaining |
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40,090
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Weighted average fair value grant date |
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$ 2.95
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Employment Agreement Description |
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The stock options vest in 36 equal monthly installments of 20,044 shares during the three-year term of his Employment Agreement.
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Restricted Stock Units [Member] | Executive Vice President [Member] |
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Stock options to acquire shares of common stock |
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100,000
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100,000
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Stock options vested |
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37,500
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Stock options to acquire shares of common stock per share |
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$ 3.07
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stock options to acquire shares of common stock RSU |
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50,000
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weighted average fair value at grant date |
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$ 2.80
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Stock options to acquire share of common stock per share |
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$ 3.38
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Stock options to acquire share of common stock excercise |
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$ 3.38
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Stock options to acquire share of common stock RSU |
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10,000
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Weighted average fair value per share |
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$ 3.38
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Restricted Stock Units [Member] | Executive Vice Presidentof Salesand Marketingand Revenue Officer [Member] |
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Stock options vested |
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31,250
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Options to acquire shares of common stock |
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250,000
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Options to acquire shares of common stock exercise price |
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$ 3.07
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Total Compensation Cost Not Yet Recognized Period For Recognition |
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1 year
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Stock Warrant [Member] |
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Number of warrants outstanding |
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143,062
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320,000
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Common stock purchase |
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1,219,512
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1,002,500
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Common stock purchase per share |
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$ 2
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$ 3
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Outstanding balance of all non-employee stock warrants |
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2,509,391
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584,317
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Non-employee detached free-standing stock warrants granted |
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2,222,012
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440,000
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Fair value of non-employee stock warrants granted |
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$ 1,939,756
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$ 915,124
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Common stock for issuance stock options and restricted stock units |
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3,848,467
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Number of authorized shares |
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3,848,467
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Authorization of shares of common stock |
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5,200,000
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Stock Options [Member] |
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Stock options to acquire shares of common stock |
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3,109,763
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2,521,922
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Vested shares |
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1,856,521
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1,202,168
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Non-vested shares |
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1,253,242
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1,319,754
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Granted stock options to acquire shares of common stock |
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1,160,000
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Common stock exercise prices range |
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$2.77 to $3.58
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Stock options vest |
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over 6 months to 3-year terms
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Fair value of options granted |
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$ 3,074,000
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Stock options vested |
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138,680
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General and administrative expense |
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$ 723,261
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$ 239,478
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Unrecognized compensation expense |
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$ 2,200,000
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Share-based awards to be recognized |
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five months to three years
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