STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of stock options and stock awards

The status of our stock options are summarized as follows:

	Number of options		Weighted average exercise price
Outstanding at December 31, 2019	3,966,858		$	4.67
Granted	1,274,900		8.18
Exercised	(15,631	)	5.42
Canceled and forfeited	(142,300	)	7.65
Outstanding at March 31, 2020	5,083,827		$	5.46

Schedule of option fair value assumptions

We calculated the fair value of issued options utilizing a Black Scholes model with an expected life calculated via the simplified method as we do not have sufficient history to determine actual expected life.

	2020 Grants
Option value	$8.18
Risk-free rate	1.7%
Expected dividend yield	—
Expected volatility	65.9%
Expected term (in years)	6