STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Information relating to stock based compensation

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Common stock for services	$	77,040	$	147,976	$	345,679	$	222,676
Amortization of restricted common stock		440,333		—		1,000,647		—
Amortization of market-based awards		754,207		—		1,374,226		—
Stock options		20,516		10,038		45,407		30,155
Total	$	1,292,096	$	158,014	$	2,765,959	$	252,831

Schedule of stock option activity outstanding and exercisable

		Weighted		Weighted
		Average		Average
	Number of	Exercise		Remaining	Intrinsic
	Options	Price		Term (Yrs)	Value
Outstanding, January 1, 2021	370,000	$	0.66
Granted	220,000		2.30
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding, September 30, 2021	590,000	$	1.27	3.2	$	527,600
Exercisable,September 30, 2021	324,167	$	0.66	2.3	$	460,317

The following table presents information related to stock options (excluding Market-Based Awards) as of September 30, 2021:

Options Outstanding			Options Exercisable
			Weighted
		Outstanding	Average	Exercisable
Exercise		Number of	Remaining Life	Number of
Price		Options	In Years	Options
$	0.66	370,000	2.3	324,167
$	1.99	10,000	—	—
$	2.03	20,000	—	—
$	2.05	10,000	—	—
$	2.08	10,000	—	—
$	2.13	20,000	—	—
$	2.27	30,000	—	—
$	2.43	20,000	—	—
$	2.44	100,000	—	—
		590,000	2.3	324,167

Schedule of warrants activity

The following table presents information related to warrants as of September 30, 2021:

Warrants Outstanding			Warrants Exercisable
			Weighted
		Outstanding	Average	Exercisable
Exercise		Number of	Remaining Life	Number of
Price		Warrants	In Years	Warrants
$	1.25	2,594,553	4.3	2,594,553
$	1.50	8,325	0.2	8,325
$	2.50	2,600,000	4.6	2,600,000
		5,202,878	4.4	5,202,878

Schedule of outstanding and exercisable warrants

		Weighted		Weighted
		Average		Average
	Number of	Exercise		Remaining	Intrinsic
	Warrants	Price		Term (Yrs)	Value
Outstanding, January 1, 2021	6,787,911	$	1.25
Issued	2,600,000		2.50
Exercised	(4,185,033)		(1.24)
Expired	—		—
Forfeited	—		—
Outstanding, September 30, 2021	5,202,878	$	1.88	4.4	$	2,158,307
Exercisable, September 30, 2021	5,202,878	$	1.88	4.4	$	2,158,307

Summary of restricted common stock

The following table presents information related to market-based awards as of September 30, 2021:

	Number of	Grant Date
Award	Shares	Fair Value
Restricted stock units	1,500,000	$	1.94
Stock options	1,500,000	$	1.72
Total	3,000,000	$	3.66

Stock options.

Schedule of stock options granted

	For the Three Months Ended			For the Nine Months Ended
	September 30,			September 30,
	2021		2020	2021			2020
Risk free interest rate	0.20% - 0.23	%	N/A		0.20% - 0.85	%		1.58	%
Expected term (years)	3.50		N/A		2.5 - 3.5			2.50
Expected volatility	109.00	%	N/A		93% - 109	%		93.00	%
Expected dividends	0	%	N/A		0	%		0	%

Market-Based Awards

Schedule of stock options granted

	March 1,			June 10,
	2021			2021
Risk free interest rate		0.71	%		0.73	%
Expected volatility		98.9	%		98.5	%
Expected dividend yield		0	%		0	%
Expected life of market-based awards		2.1	years		2.2	years
Fair value of common stock on date of grant	$	2.61		$	2.62

Summary of restricted common stock

		Weighted Average
	Shares of Restricted	Grant Date
	Common Stock	Fair Value
Non-vested balance, January 1, 2021	72,500	$	1.24
Granted	2,570,000		2.55
Vested	(27,500)		2.06
Forfeited	—		—
Non-vested shares, September 30, 2021	2,615,000	$	2.52