STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2022

STOCK-BASED COMPENSATION [Abstract]

Information Regarding Equity Incentive Plan

The information regarding the 2020 Plan below is presented as though the combination occurred as of the beginning of the periods presented.

	Number of Restricted Shares and Units			Weighted Average Grant Date Fair Value Per Share
Unvested at January 1, 2021		1,699,676		$	1.28
Issued		454,000			11.71
Vested		(907,545	)		0.03
Canceled		(100,000	)		12.18
Unvested at December 31, 2021		1,146,131			3.28
Issued		—			—
Vested		(155,547	)		2.07
Canceled		—			—
Unvested at March 31, 2022	$	990,584		$	3.07

Fair Value of Stock Option Assumptions

The assumptions at March 31, 2022 and December 31, 2021 are as follows:

	March 31,		December 31,
	2022		2021
Exercise Price	$	2.00 to $51.80	$	2.00 to $51.80
Fair value of Company common stock	$	6.81 to $15.61	$	7.85 to $22.90
Dividend yield		0%		0%
Expected volatility	117% to 188%		117% to 188%
Risk Free interest rate	0.27% to 2.18%		0.27% to 1.59%
Expected life (years) remaining	0.59 to 9.97		0.84 to 10.00

Stock Option Activity

Stock option activity for the period ended March 31, 2022 is as follows:

	Shares Underlying Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)
Outstanding at January 1, 2021		—			—		—
Options assumed in Helix Merger		455,089		$	15.13		3.24
Granted		3,893,714		$	12.73		9.31
Exercised		(29,937	)	$	6.03		1.02
Forfeited and expired		(271,893	)	$	7.31		6.65
Outstanding at December 31, 2021		4,046,973		$	14.25		8.75
Granted		320,250		$	6.81		9.97
Exercised		—		$	—		—
Forfeited and expired		(899,332	)	$	14.63		8.99
Outstanding at March 31, 2022		3,467,891		$	12.59		8.66
Vested options at March 31, 2022		713,179		$	12.34		8.93

Stock Compensation Expense

Stock compensation expense for the three months ended March 31, 2022 and 2021 is as follows:

	For the Three Months Ended March 31,
	2022		2021
Services	$	23,907	$	—
Research and development		85,619		54,890
Sales and marketing		52,525		31,744
General and administrative		2,325,490		777,249
Separation expenses		5,417,043		—
Total	$	7,904,584	$	863,883