Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Tables)

v3.23.1
STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2022
STOCKHOLDERS' EQUITY  
Schedule of stock-based compensation expense related to stock options, restricted stock awards and restricted stock units

    

For the Years Ended

December 31, 

    

2022

    

2021

Sales and marketing

$

119,388

$

270,460

Technology

 

207,280

 

31,631

General and administrative

 

664,819

 

421,951

Total

$

991,487

$

724,042

Summary of the stock-based award activity

    

    

Weighted Average

Grant Date Fair

Total Grant Date

    

Number of Shares

    

Value

    

Fair Value

Non-vested at January 1, 2022

 

166,489

 

$

5.98

 

$

995,604

Granted

1,130,095

2.28

2,576,906

Vested

(167,777)

2.23

(373,516)

Forfeited

(117,390)

2.83

(331,748)

Non-vested at December 31, 2022

 

1,011,417

 

$

2.83

 

$

2,867,246

Summary of stock option activity

A summary of the Company’s stock option activity during the year ended December 31, 2022 is as follows:

    

    

    

Weighted Average

    

Number

Weighted Average

Remaining Term 

Intrinsic

    

of Options

    

Exercise Price

    

(Years)

    

Value

Outstanding at January 1,2022

 

94,447

$

11.56

 

  

 

  

Granted

 

 

 

  

 

  

Forfeited

 

(57,780)

 

8.19

 

  

 

  

Exercised

 

 

 

  

 

  

Outstanding at December 31, 2022

 

36,667

$

16.87

 

7.5

$

Exercisable at December 31, 2022

 

22,892

$

19.69

 

7.4

$

Summary of stock option exercise price

The following table presents information related to stock options as of December 31, 2022:

Options Outstanding

    

Options Exercisable

Weighted

Outstanding

Average

Exercisable

Number of

Remaining Life

Number of

Exercise Price

    

Options

    

In Years

    

Options

$

2.81

 

20,000

 

7.9

 

10,400

$

33.75

 

16,667

 

7.0

 

12,492

 

36,667

 

7.4

 

22,892

Summary of stock warrants

    

    

    

    

Weighted

    

    

Weighted

Average

Average

Remaining

Number of

Exercise

Life

Intrinsic

    

Warrants

    

Price

    

In Years

    

Value

Outstanding, January 1, 2022

 

4,753,363

$

5.42

 

  

 

  

Issued

 

 

 

  

 

  

Exercised

 

 

 

  

 

  

Expired

 

 

 

  

 

  

Outstanding, December 31, 2022[1]

 

4,753,363

$

5.42

 

2.5

$

Exercisable, December 31, 2022

 

4,753,363

$

5.35

 

2.5

$

The following table presents information related to stock warrants as of December 31, 2022:

Warrants Outstanding

    

Warrants Exercisable

Weighted

Outstanding

Average

Exercisable

Number of

Remaining Life

Number of

Exercise Price

    

Warrants

    

In Years

    

Warrants

$

4.20

 

368,711

 

1.7

 

368,711

$

4.95

 

177,223

 

0.3

 

177,223

$

5.50

 

3,998,459

 

2.7

 

3,998,459

$

6.25

 

32,500

 

2.6

 

32,500

$

6.38

 

176,470

 

3.0

 

176,470

 

4,753,363

 

2.5

 

4,753,363