NOTE 11 – STOCKHOLDERS’ EQUITY (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the six months ended June 30, 2020 and 2019 are set forth in the table below.

The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the six months ended June 30, 2020 and 2019 are set forth in the table below.

	June 30, 2020			June 30, 2019
Weighted average grant date fair value	$	0.95		$	2.57
Risk-free interest rate		0.34-1.68%			2.19-2.54%
Volatility		63.53-67.92%			61.25-61.85%
Term (in years)		6-6.8			5.5-6.25
Dividend yield		0.00	%		0.00	%

A summary of option activity under the 2009, 2012 and 2019 Plans and related information during the six months ended June 30, 2020 is as follows:

A summary of option activity under the 2009, 2012 and 2019 Plans and related information during the six months ended June 30, 2020 is as follows:

	Number of Shares Under Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2019		25,030,234		$	4.65		5.84	$	3,668,171
Granted		736,500		$	1.58
Exercised		(664,304	)	$	0.25			$	1,027,627
Expired		(197,914	)	$	2.53
Cancelled/Forfeited		(314,375	)	$	3.82
Balance at June 30, 2020		24,590,141		$	4.70		5.59	$	721,720
Vested and Exercisable at June 30, 2020		19,725,267		$	5.02		4.80	$	673,250
Unvested at June 30, 2020		4,864,874		$	3.42		8.83	$	48,470

Schedule of restricted stock units and performance stock units

	Restricted Stock Units				Performance Stock Units
	Number of Shares			Weighted Average Grant Date Fair Value	Number of Shares			Weighted Average Grant Date Fair Value
Balance at December 31, 2019	1,240,000		$	3.56	—		$	—
Granted	5,102,817		$	1.40	2,585,745		$	1.08
Vested/Released	(301,500	)	$	1.78	(151,500	)	$	1.14
Forfeited	(11,360	)	$	1.07	(11,360	)	$	1.07
Balance at June 30, 2020	6,029,957		$	1.83	2,422,885	*	$	1.08