STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2020

Tabular disclosure of stock option grants under the Plan

Grantee Type	# of Options Granted	Issued and Outstanding*	Vesting Period	Weighted Average Exercise Price		Weighted Average Grant Date Fair Value (Per Option)
Director Group	150,000	100,000	5 years	$	9.98	$	4.36
Employee Group	4,444,630	3,958,624	3-5 years	$	5.65	$	2.44
Total		4,058,624

Schedule of fair value assumptions of stock option grants

Weighted average expected life	6.0 years
Risk-free interest rate	0.43%
Expected volatility	41.04%
Expected dividend yield	0.00%

Schedule of summary of option activity under the Plan and changes during the period

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Terms (Years)	Aggregate Intrinsic Value (in millions)
Outstanding as of January 1, 2020	2,308,924	$	8.39	8.0	$	0.2
Granted	1,811,900		1.41
Forfeited or expired	(62,200)		10.84
Outstanding as of June 30, 2020	4,058,624	$	5.29	8.5	$	5.0
Exercisable as of June 30, 2020	976,531	$	9.76	7.0	$	—
Vested and expected to vest as of June 30, 2020	4,058,624	$	5.29	8.5	$	5.0

Summary of restricted stock unit grants under the Plan

Grantee Type	# of Restricted Stock Units Granted	Issued and Outstanding	Vesting Period	Weighted Average Grant Date Fair Value (Per Unit)
Director Group	893,996	772,784	1-2 years	$	2.75
Employee Group	1,568,655	293,717	5 years	$	10.59
Total		1,066,501

Summary of restricted stock awards activity under the Plan

	Units	Weighted Average Grant Date Fair Value (Per Unit)
Non-vested as of January 1, 2020	1,180,882	$	5.44
Granted	108,498		2.77
Vested	(176,531)		7.91
Forfeited	(46,348)		10.10
Non-vested as of June 30, 2020	1,066,501	$	4.55

Summary of performance stock unit grants under the Plan

	Units	Weighted Average Grant Date Fair Value (Per Unit)
Non-vested as of January 1, 2020	—	$	—
Granted	2,150,400		0.82
Vested	—		—
Forfeited	—		—
Non-vested as of June 30, 2020	2,150,400	$	0.82

Performance Stock Units

Schedule of fair value assumptions of stock option grants

	As at
	June 30, 2020
Term	2.4 to 2.8 years
Risk-free interest rate	0.17% to 0.18%
Expected volatility	83.0% to 89.4%
Expected dividend yield	0.00%

Stock Option

Schedule of fair value assumptions of stock option grants

	As at
	June 30, 2020
Weighted average expected life	2.8 years
Risk-free interest rate	0.18%
Expected volatility	83.0% to 83.6%
Expected dividend yield	0.00%