Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS AND WARRANTS (Details 2)

v3.20.4
STOCK OPTIONS AND WARRANTS (Details 2) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Volatility 85.00% 85.00%
Risk free Rate 1.40% 1.40%
Dividend Yield 0.00% 0.00%
Suboptimal Exercise Factor [1] 1.30% 1.30%
Exit Rate Pre-Vesting [2] 0.00% 0.00%
Exit Rate Post Vesting [3] 0.00% 0.00%
Aggregate Grant Date Fair value $ 21,380 $ 504,257
Minimum    
Expected Term (in Years) 5 years 2 years
Maximum    
Expected Term (in Years) 2 years 5 years
[1] The suboptimal exercise factor estimates the value realized by the holder upon exercise of the option and the estimated point at which an option holder would exercise an in-the-money option. The Company estimated the suboptimal factor based on the holder realizing a pre-tax profit of $500,000. Used for lattice model purposes only.
[2] Assumed forfeiture rate for market condition option awards prior to vesting. Used for lattice model purposes only.
[3] Assumed expiration or forfeiture rate for market condition option awards after vesting. Used for lattice model purposes only.