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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock option activity The following table summarizes stock option activity for the nine months ended September 30, 2021:
Options
Outstanding
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
Outstanding at January 1, 202125,087,416 $1.29 — $— 
Granted9,377,000 2.50 — — 
Exercised(5,589,084)1.50 — 5,588,929 
Expired(2,891,509)1.73 — — 
Forfeited(3,067,750)0.63 — — 
Outstanding at September 30, 202122,916,073 1.77 8.4810,518,390 
Vested as of September 30, 202112,369,305 1.47 7.948,010,123 
Expected to vest as of September 30, 202110,546,768 2.13 9.112,508,267 
Schedule of assumptions used to estimate the fair values of share options granted
For the options with performance conditions and only with service conditions, the assumptions used to estimate the fair values of the stock options granted in the nine months ended September 30, 2021 and 2020 as follows:
Nine Months Ended
September 30, 2021September 30, 2020
Expected term (in years)
4.79-7.17
5.37-5.46
Expected volatility
112.02%-129.63%
100.98%-101.55%
Expected dividend yield— %— %
Risk free interest rate
0.51%-1.1%
0.40 %
For the options with market conditions, the assumptions used to estimate the fair values of the stock options granted in the nine months ended September 30, 2021 as follows:
Nine Months Ended September 30, 2021
Expected term (in years)1.88
Expected volatility106.92 %
Expected dividend yield— %
Risk free interest rate1.31 %
Schedule of warrants outstanding and exercisable
September 30, 2021December 31, 2020
Warrants OutstandingNumber of
Warrants
Outstanding and
Exercisable
Number of
Warrants
Outstanding and
Exercisable
Exercise
Price
Expiration
Date
Service providers200,000 200,000 $5.00 July 1, 2022
Service providers700,000 700,000 2.50 
February 28, 2022 - October 1, 2022
Service provider100,000 — 7.50 January 1, 2023
Service provider100,000 — 9.00 January 1, 2023
Total1,100,000 900,000 
Summary of restricted shares
A summary of the unvested restricted shares is as follows:
SharesWeighted-average fair value
Non-vested restricted shares outstanding at January 1, 2021— $— 
Granted5,025,0002.46 
Forfeited— — 
Vested(5,025,000)2.46 
Non-vested restricted shares outstanding at September 30, 2021— —