Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of restricted stock unit activity
       
Outstanding January 1, 2022     350,000  
Granted     35,000  
Vested (1)     (260,000 )
Canceled     (50,000 )
Outstanding December 31, 2022     75,000  

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  (1) A total of 125,000 RSUs were scheduled to vest in 2021. In January 2022, the Company modified the vesting terms of 100,000 of these to extend the vesting through May 15, 2022. The Company granted an additional 25,000 RSUs to the holders of these RSUs that vesting was extended and these additional RSUs also vested as of May 15, 2022. The Company recorded additional expense of $1,126,250 during 2022 related to these modifications. The remaining 25,000 shares that were vested as of December 31, 2021 were issued in January 2022.
Schedule of stock option activity
                                 
    Common Stock Options  
    Shares     Weighted
Average
Exercise
Price		     Weighted
average
Remaining
Life in years		     Intrinsic Value  
Outstanding at January 1, 2022     1,964,045     $ 3.33                  
Granted     2,296,454     $ 3.38                  
Forfeited     (916,562)     $ 4.33                  
Exercised     (55,107)     $ 1.00                  
Outstanding at December 31, 2022     3,288,830     $ 3.08       9.13      $ 6,868  
Exercisable at December 31, 2022     626,750     $ 2.57       8.55     $ 3,283  
Schedule of stock-based compensation expense
               
    2022     2021  
Cost of Goods Sold   $ 578,552     $ 344,720  
Sales and Marketing     764,517       313,718  
Product Development     704,152       464,510  
General and Administrative     1,211,788       13,504,435  
Total   $ 3,259,009     $ 14,627,382