Annual report pursuant to Section 13 and 15(d)

COMMON STOCK OPTIONS AND WARRANTS (Tables)

v3.22.1
COMMON STOCK OPTIONS AND WARRANTS (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Options Activity
                       
                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Shares     Price     Term (Years)     Value  
Outstanding at December 31, 2019     163,010     $ 14.00       3.4        
Granted     450,290     $ 5.06       4.4        
Forfeited     (161,402 )   $ 14.00              
Outstanding at December 31, 2020     451,898     $ 5.06       4.4       7,200  
Exercisable at December 31, 2020     212,832     $ 5.76       4.2        
                                 
Outstanding at December 31, 2020     451,898     $ 5.06       4.2        
Granted     20,000     $ 4.32       4.0        
Exercised/Forfeited     (40,632 )   $ 14.00              
Outstanding at December 31, 2021     431,266     $ 4.98       3.4       $197,506  
Exercisable at December 31, 2021     312,310     $ 5.25       3.4        
Schedule of Fair Value Assumptions
       
    For the Years Ended
December 31,
    2021   2020
Risk free interest rate   0.18%   0.18% - 0.26%
Expected term in years   3.50   2.50 - 3.50
Dividend yield    
Volatility of common stock   91.6%   68.00% - 86.24%
Estimated annual forfeitures    
Schedule of Warrants Outstanding
                       
                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
    Warrants     Price     Term (Years)     Value  
Outstanding at December 31, 2019     1,521,250     $ 8.78       3.9        
Warrants expired, forfeited, cancelled or exercised     (23,116 )                        
Warrants issued     89,419     $ 9.02       2.2        
Outstanding at December 31, 2020     1,587,553     $ 8.62       2.0        
Exercisable at December 31, 2020     1,587,553     $ 8.69       2.0        
                                 
Outstanding at December 31, 2020     1,587,553     $ 8.62       2.0        
Warrants expired, forfeited, cancelled or exercised     (232,517 )                        
Warrants issued     21,430     $ 7.70       1.9        
Outstanding at December 31, 2021     1,376,466     $ 8.18       1.9        
Exercisable at December 31, 2021     1,376,466     $ 8.18       1.9