Annual report pursuant to Section 13 and 15(d)

Equity Compensation Plan (Tables)

v3.22.1
Equity Compensation Plan (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of stock option activity
                       
    Shares   Weighted-Average Exercise
Price per share
  Weighted-Average Remaining
Contractual Life (years)
             
Balance, January 1, 2020     590,000     $ 1.5       7.8  
                         
Options granted (1)     2,937,410       1.5       9.5  
Options exercised     (270,000 )     1.5        
Options converted                  
Options forfeited or expired                  
Balance, December 31, 2020     3,257,410       1.5       9.1  
Options granted     833,246       2.7       6.7  
Options exercised     (45,625 )     1.5        
Options converted                  
Options expired     (735,625 )     1.5        
Options forfeited     (1,911,160 )     1.5        
Balance, December 31, 2021     1,398,246       2.2       6.3  
Vested shares at December 31, 2021     404,750     1.51       6.8  
Schedule Of Outstanding Options
                   
Exercise price   Outstanding options   Exercisable options
$ 1.50       565,000       392,667  
$ 1.77       388,246       0  
$ 3.93       445,000       12,083  
          1,398,246       404,750  
Schedule of Valuation Assumptions
               
    2021   2020
Risk-free interest rate     1.2 %     0.62 - 1.75 %  
Expected term     7.0 years       10 years  
Expected volatility     91 %     78 %
Expected dividends     0       0.00 %
Grant date fair value of common stock   $ 1.91/share     $ 1.50/share