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SHARE-BASED PAYMENTS (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
SHARE-BASED PAYMENTS    
Schedule of fair value measurement inputs and valuation techniques

    

Nine Months Ended

 

September 30, 

 

2020

 

Risk Free Interest Rate

 

1.54 - 1.59

%

Expected Dividend Yield

 

0.00

%

Expected Volatility

 

58.0

%

Expected Life (years)

 

10.00

Year Ended December 31,

    

2020

    

2019

Risk Free Interest Rate

0.42% – 0.51%

1.59% – 2.55%

Expected Dividend Yield

0%

0%

Expected Volatility

58%

58%

Expected Life (years)

6.25

6.25

Weighted Average fair value of stock options granted

$0.50

 

$0.26

Summary of information related to common stock and preferred stock warrants

    

Common

    

Weighted

Stock

Average

Warrants

Exercise Price

Outstanding - December 31, 2020

 

914,539

$

2.66

Granted

 

3,012,048

 

4.58

Conversion of preferred stock warrants upon IPO

51,642

7.66

Exercised

 

(386,881)

 

4.57

Forfeited

 

 

Outstanding - September 30, 2021

 

3,591,348

$

4.13

Exercisable at September 30, 2021

 

3,470,866

$

4.10

    

Preferred

    

Weighted

Stock

Average

Warrants

Exercise Price

Outstanding - December 31, 2020

 

806,903

$

0.49

Converted to common stock warrants upon IPO

(806,903)

0.49

Exercised

 

 

Forfeited

 

 

Outstanding - September 30, 2021

 

$

Exercisable at September 30, 2021

 

$

Weighted

Average

    

Options

    

Exercise Price

Outstanding – December 31, 2018

 

1,136,091

$

2.34

Granted

 

168,525

 

3.28

Exercised

 

 

Forfeited

 

(220,401)

 

Outstanding – December 31, 2019

 

1,084,215

$

2.50

Granted

 

91,688

 

0.94

Exercised

 

 

Forfeited

 

(12,800)

 

3.28

Outstanding – December 31, 2020

 

1,163,103

$

2.34

Exercisable at December 31, 2020

 

880,955

$

2.34

Weighted average grant date fair value of options granted during period

$

0.500

Weighted average duration (years) to expiration of outstanding options at December 31, 2020

 

6.02

Summary of information related to stock options under stock plan

    

    

Weighted

Average

Options

Exercise Price

Outstanding - December 31, 2020

 

1,163,103

$

2.34

Granted

 

2,712,000

 

4.15

Exercised

 

 

Forfeited

 

 

Outstanding - September 30, 2021

 

3,875,103

$

3.62

Exercisable at September 30, 2021

 

3,084,831

$

3.61

Weighted average duration (years) to expiration of outstanding options at September 30, 2021

 

8.27