STOCKHOLDERS’ EQUITY (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Summary of our Warrant activity during the year ended December 31, 2020:

Summary of our Warrant activity during the year ended December 31, 2020:

	Number of Shares Under Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Balance at December 31, 2019		1,832,571		$	2.62		1.95	$	2,447,929
Granted		4,752,116		$	1.19
Exercised		—			—				—
Expired		—			—
Cancelled/Forfeited		(50,000	)	$	6.35
Balance at December 31, 2020		6,534,687		$	1.55		7.25	$	1,041,219
Vested and Exercisable at December 31, 2020		6,534,687		$	1.55		7.25	$	1,041,219
Unvested at December 31, 2020		—			—		—		—

The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2020, 2019, and 2018 are set forth in the table below.

The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2020, 2019, and 2018 are set forth in the table below.

	2020			2019			2018
Weighted average exercise price	$	1.19		$	5.63		$	5.16
Weighted average grant date fair value	$	1.56		$	3.00		$	2.79
Risk-free interest rate		0.34	%		2.52	%		2.36	%
Volatility		68.8	%		60.8	%		62.12	%
Term (in years)		10			5			5
Dividend yield		0.00	%		0.00	%		0.00	%

The ranges of assumptions used in the Black-Scholes Model during the years ended December 31, 2020, 2019, and 2018 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 years ended December 31, 2020, 2019, and 2018 are set forth in the table below.

	2020			2019			2018
Weighted average exercise price	$	1.58		$	3.10		$	5.45
Weighted average grant date fair value	$	0.95		$	1.82		$	3.24
Risk-free interest rate		0.34-1.68%			1.64-2.54%			2.38-2.89%
Volatility		63.53-67.92%			61.25-64.49%			59.45-64.04%
Term (in years)		6-6.8			5.5-6.5			5.1-6.25
Dividend yield		0.00	%		0.00	%		0.00	%

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 2020 is as follows:

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the year ended December 31, 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		(1,182,195	)	$	0.23			$	1,738,740
Expired		(386,609	)	$	3.76
Cancelled/Forfeited		(416,000	)	$	3.80
Balance at December 31, 2020		23,781,930		$	4.80		5.20	$	152,253
Vested and Exercisable at December 31, 2020		19,862,681		$	5.06		4.59	$	117,443
Unvested at December 31, 2020		3,919,249		$	3.53		8.29	$	34,810

Schedule of restricted stock units and performance stock units

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		6,152,818		$	1.39		2,585,745		$	1.08
Vested/Released		(301,500	)	$	1.78		(151,500	)	$	1.14
Forfeited		(30,294	)	$	1.07		(30,294	)	$	1.07
Balance at December 31, 2020		7,061,024		$	1.76		2,403,951	*	$	1.08

* The number of performance stock units (PSUs) represents the base number of PSUs that may vest. The actual number of PSUs that will vest will be between zero and two times the base number of PSUs depending on the Company’s achievement of break-even quarterly EBITDA.