Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.23.1
Share-based Compensation (Tables)
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options and Share Awards Granted Under the Stock Option Plan

 

January 2023

 

Risk-free interest rates

 

 

3.43

%

Expected life

 

5 years

 

Expected volatility

 

 

41.00

%

Expected dividend yield

 

 

0.00

%

Summary of Stock Option Activity

The following table summarizes the stock option activity:

 

 

 

 

 

 

 

 

Weighted Average

 

 

Aggregate

 

 

Number of

 

 

Weighted Average

 

 

Remaining

 

 

Intrinsic

 

 

Options

 

 

Exercise Price

 

 

Contractual Term

 

 

Value

 

Balance at January 1, 2023

 

 

3,727,737

 

 

$

1.47

 

 

 

8.91

 

 

$

203,295

 

Granted

 

 

1,279,000

 

 

 

0.86

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(204,384

)

 

 

1.92

 

 

 

 

 

 

 

Exercised

 

 

(99,903

)

 

0.002

 

 

 

 

 

 

 

Balance at March 31, 2023

 

 

4,702,450

 

 

 

1.31

 

 

 

9.05

 

 

$

307,549

 

Exercisable at March 31, 2023

 

 

1,906,415

 

 

$

1.54

 

 

 

8.70

 

 

$

113,427

 

 

Summary of Non-vested Stock Options Activity

The following table summarizes the Company’s non-vested stock options:

 

 

 

 

 

Weighted-Average

 

 

Non-vested Options

 

 

Grant Date Fair

 

 

Outstanding

 

 

Value

 

At January 1, 2023

 

 

2,030,654

 

 

$

0.66

 

Options granted

 

 

1,279,000

 

 

 

0.35

 

Options forfeited/cancelled

 

 

(189,198

)

 

 

0.63

 

Options vested

 

 

(324,421

)

 

 

0.55

 

At March 31, 2023

 

 

2,796,035

 

 

$

0.48

 

Summary of Restricted Stock Awards Activity

The following table summarizes the restricted stock awards activity:

 

 

 

 

 

 

Weighted-Average

 

 

 

Non-vested Options

 

 

Grant Date Fair

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2023

 

 

222,938

 

 

$

1.48

 

Granted

 

 

 

 

 

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(92,112

)

 

 

1.45

 

Outstanding at March 31, 2023

 

 

130,826

 

 

$

1.49

 

Summary of Restricted Stock Units Activity

The following table summarizes the restricted stock units activity:

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2023

 

 

291,827

 

 

$

1.11

 

Granted

 

 

608,547

 

 

 

0.83

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(393,082

)

 

 

1.06

 

Outstanding at March 31, 2023

 

 

507,292

 

 

$

0.81