STOCK-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Sep. 30, 2021

STOCK-BASED COMPENSATION PLANS

Schedule of outstanding and exercisable number of options

	Outstanding	Exercisable
	Number of Options	Number of Options
	(in thousands)	(in thousands)
Plan Category
2005 Stock Option Plan	295		295
Equity Compensation Plans not approved by Shareholders	25		25
2017 Stock Option Plan	388		268
Total	708		588

Schedule of share based compensation expenses recorded in the consolidated statement of income

The following summarizes stock-based compensation expenses recorded in the consolidated statements of operations (in thousands):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Cost of revenue	$	12	$	13	$	42	$	22
Sales and marketing expense		48		13		78		45
General, and administrative		473		704		922		1,739
Total stock based compensation expense	$	533	$	730	$	1,042	$	1,806

Summary of fair value of stock options grants

The Company did not grant any stock options during the three and nine months ended September 30, 2021, nor during the three months ended September 30, 2020. The Company used the Black Scholes option pricing model to determine the fair value of stock option grants, using the following assumptions for the nine months ended September 30, 2020:

Expected term (years)	6.79
Risk-free interest rate	1.59	%
Expected volatility	116.76	%
Expected dividend yield	—	%

Summary of stock option activity under the option plan

A summary of stock option activity under all equity compensation plans for the nine months ended September 30, 2021, is presented below:

				Weighted-
		Weighted-		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Shares	Exercise		Contractual	Value
	(in thousands)	Price		Term (Years)	(in thousands)
Outstanding at December 31, 2020	1,006	$	3.04	6.47	$	10,483
Forfeited	(198)	$	7.22
Exercised	(100)	$	5.31
Outstanding at September 30, 2021	708	$	1.55	4.97	$	6,963
Exercisable at September 30, 2021	588	$	1.04	4.52	$	6,088

Schedule of restricted stock award activity under all equity compensation plans

A summary of restricted stock award activity under all equity compensation plans for the nine months ended September 30, 2021, is presented below:

	Number of
	Shares
	(in thousands)
Granted but not vested at December 31, 2020	268
Granted	317
Forfeited	(83)
Vested	(87)
Granted but not vested at September 30, 2021	415