Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of restricted stock unit activity
       
Outstanding January 1, 2021     562,500  
Granted     75,000  
Vested (1)      
Cancelled     (287,500 )
Outstanding December 31, 2021     350,000  

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(1) A total of 125,000 RSUs vested 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 will also vest as of May 15, 2022. The Company will record 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, 2021         $                  
Granted     2,189,670     $ 2.98                  
Forfeited     (225,625 )   $ 1.00                  
Exercised         $                  
Outstanding at December 31, 2021     1,964,045     $ 3.33             $ 21,211,286  
Exercisable at December 31, 2021         $           $  
Schedule of stock-based compensation expense
           
    2021     2020  
Cost of Goods Sold   $ 344,720     $  
Sales and Marketing     313,718       3,925  
Product Development     464,510       186,274  
General and Administrative     13,504,435       31,526  
Total   $ 14,627,382     $ 221,725