Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.23.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity
The following summarizes activity related to the Company's stock options (in thousands, except per share data):
Number of Shares Weighted Average
Exercise Price
Weighted Average
Remaining Contract
Term (in years)
Aggregate Intrinsic Value
Outstanding - December 31, 2021 30,163  $ 0.49  5.5 $ — 
Granted 1,000  0.04  —  — 
Exercised —  —  —  — 
Forfeited (11,332) 0.51  —  — 
Outstanding - December 31, 2022 19,831  0.46  3.5 — 
Exercisable - December 31, 2022 18,163  0.48  3.0 — 
Vested or expected to vest - December 31, 2022 19,831  $ 0.46  3.5 $ — 
Fair Value Assumptions
The following table presents the weighted average grant date fair value of stock options granted and the weighted-average assumptions used to estimate the fair value on the date of grant using the Black-Scholes valuation model:
For the years ended December 31,
2022 2021
Volatility 123.5% 133.2%
Risk-Free Interest Rate 3.6% 0.9%
Expected Term (in years) 5.52 5.61
Dividend Rate 0.0% 0.0%
Fair Value Per Share on Grant Date $0.03 $0.48