EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARDS (Tables)
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3 Months Ended |
Mar. 31, 2023 |
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| EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) |
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| Schedule of Stock Options Activity |
A summary of the status of the stock options as of March 31, 2023 and 2022 and changes during the three months then ended are as follows:
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Options |
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Weighted-
Average
Exercise Price |
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Weighted-Average Remaining Contractual Term |
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Aggregate Intrinsic Value |
| Outstanding, December 31, 2021 |
365,500 |
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$ |
3.61 |
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| Granted |
— |
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— |
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| Forfeited or rescinded |
— |
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— |
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| Exercised |
— |
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— |
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| Outstanding, March 31, 2022 |
365,500 |
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$ |
3.61 |
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2.21 years |
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$ |
536,900 |
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| Exercisable, March 31, 2022 |
365,500 |
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$ |
3.61 |
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2.21 years |
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| Outstanding, December 31, 2022 |
265,500 |
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$ |
4.21 |
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| Granted |
— |
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— |
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| Forfeited or rescinded |
— |
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— |
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| Exercised |
— |
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— |
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| Outstanding, March 31, 2023 |
265,500 |
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$ |
4.21 |
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1.39 years |
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$ |
— |
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| Exercisable, March 31, 2023 |
265,500 |
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$ |
4.21 |
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1.39 years |
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| Schedule of Restricted Stock Grants |
A summary of the restricted stock activity as of March 31, 2023 and 2022, respectively, and changes during the three months then ended are as follows:
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Restricted stock |
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Weighted-
Average Grant
Date Fair Value |
| Outstanding, December 31, 2021 |
2,572,596 |
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$ |
1.75 |
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| Granted |
1,247,061 |
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2.79 |
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| Forfeited or rescinded |
— |
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— |
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| Vested |
— |
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— |
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| Outstanding, March 31, 2022 |
3,819,657 |
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$ |
2.09 |
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| Outstanding, December 31, 2022 |
2,623,790 |
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$ |
2.29 |
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| Granted |
2,270,842 |
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2.22 |
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| Forfeited or rescinded |
(11,712) |
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2.22 |
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| Vested |
(659,479) |
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2.80 |
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| Outstanding, March 31, 2023 |
4,223,441 |
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$ |
2.17 |
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| Performance Stock Units Activity |
A summary of the status of the performance stock grants as of March 31, 2023 and 2022, respectively, along with changes during the three months then ended are as follows:
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Performance Stock Units |
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Weighted-
Average Grant
Date Fair Value |
| Outstanding, December 31, 2021 |
860,216 |
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$ |
3.87 |
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| Granted |
860,216 |
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3.65 |
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| Forfeited or rescinded |
— |
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— |
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| Vested |
— |
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— |
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| Outstanding, March 31, 2022 |
1,720,432 |
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$ |
3.76 |
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| Outstanding, December 31, 2022 |
1,720,432 |
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$ |
3.76 |
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| Granted |
1,162,162 |
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2.71 |
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| Forfeited or rescinded |
— |
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— |
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| Vested |
— |
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— |
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| Outstanding, March 31, 2023 |
2,882,594 |
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$ |
3.34 |
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