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STOCKHOLDERS’ EQUITY (Tables)
 12 Months Ended
Dec. 31, 2019
Schedule of Restricted stock activity

The following table illustrates the Company’s stock activity for the Agent Growth Incentive Program for stock awards where the performance metric has been achieved for the following periods:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

Grant Date

 

    

Shares

    

Fair Value

Balance, December 31, 2017

 

 

3,059,065

 

$

7.60

Granted

 

 

2,380,100

 

 

11.59

Vested and issued

 

 

(889,769)

 

 

12.16

Forfeited

 

 

(676,519)

 

 

4.05

Balance, December 31, 2018

 

 

3,872,877

 

$

11.63

Granted

 

 

1,687,457

 

 

9.23

Vested and issued

 

 

(1,494,633)

 

 

11.21

Forfeited

 

 

(677,592)

 

 

3.39

Balance, December 31, 2019

 

 

3,388,109

 

$

11.04

 

Schedule of stock options fair value assumptions

 

 

 

Assumptions:

 

Year Ended December 31, 2019

Expected term

 

5 - 6.25 years

Expected volatility

 

91.04% - 127.93%

Risk-free interest rate

 

1.48% - 2.70%

Dividend yield

 

-        %

 

Schedule of stock option activity

The following table illustrates the Company’s stock option activity for the following periods:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

Average

 

 

 

 

Weighted

 

 

 

Remaining

 

 

 

 

Average

 

 

 

Contractual Term

 

    

Options

    

Exercise Price

    

Intrinsic Value

    

(Years)

Balance, December 31, 2017

 

  

10,873,292

 

$

1.50

 

$

5.08

 

 

6.65

Granted

 

 

870,000

 

 

10.86

 

 

(3.78)

 

 

9.34

Exercised

 

 

(2,594,050)

 

 

0.78

 

 

11.90

 

 

 —

Forfeited

 

 

(451,629)

 

 

3.03

 

 

9.59

 

 

 —

Balance, December 31, 2018

 

 

8,697,613

 

$

2.08

 

$

5.00

 

 

6.07

Granted

 

 

776,746

 

 

9.44

 

 

0.64

 

 

9.52

Exercised

 

 

(2,261,122)

 

 

1.02

 

 

8.56

 

 

 —

Forfeited

 

 

(437,881)

 

 

7.94

 

 

2.45

 

 

 —

Balance, December 31, 2019

 

 

6,775,356

 

$

2.90

 

$

8.43

 

 

5.59

Exercisable at December 31, 2019

 

 

5,368,458

 

 

1.37

 

 

9.96

 

 

4.71

Vested at December 31, 2019

 

 

5,460,777

 

$

1.48

 

$

9.85

 

 

4.78

 

Agent Growth Incentive Program  
Changes in the Company’s stock compensation liability

The following table illustrates changes in the Company’s stock compensation liability during the year ended December 31, 2019:

 

 

 

 

 

Stock Compensation Liability Activity

 

Amount

Balance, December 31, 2018

 

$

 -

Estimated stock awards

 

 

900,535

Stock awards reclassified from liability to equity

 

 

(623,533)

Balance, December 31, 2019

 

$

277,002