v3.22.2.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Option Activity

The following table summarizes option activity during the nine months ended September 30, 2022:

 

   Number of Options   Weighted Average
Exercise
Price
   Weighted Average Fair Value  

Weighted

Average
Remaining

Contractual

Life (Years)

 
Outstanding at December 31, 2021   1,111,363   $2.12   $1.31    6.62 
Granted   -    -    -      
Expired   -    -    -      
Forfeited/Cancelled   -    -    -      
Exercised   (70,791)   1.10    0.51      
Outstanding at September 30, 2022   1,040,572   $2.19   $1.37    6.13 
                     
Exercisable at September 30, 2022   1,040,572   $2.19   $1.37    6.13 
Schedule of Outstanding Restricted Stock Units and Related Activity

The grant date fair value of RSUs granted is determined using the closing market price of the Company’s common stock on the grant date with the associated compensation expense amortized over the vesting period of the awards. The following table sets forth the outstanding RSUs and related activity for the nine months ended September 30, 2022:

 

   Number of RSUs   Weighted Average Grant Date Fair Value 
Unvested at December 31, 2021   1,267,415   $9.94 
Granted   1,925,476    5.66 
Vested   (303,083)   10.01 
Forfeited/Cancelled   (41,000)   8.31 
Unvested at September 30, 2022   2,848,808   $7.06 
Schedule of Warrant Activity

The following table summarizes warrant activity during the nine months ended September 30, 2022:

 

   Number of Warrants   Weighted
Average
Exercise Price
   Weighted Average Fair Value   Weighted
Average
Remaining
Contractual
Life (Years)
 
Outstanding at December 31, 2021   526,281   $8.15   $4.01    4.7 
Issued for adjustments to contingent purchase consideration   8,719    9.13    1.88    4.6 
Granted   -    -    -      
Expired   -    -    -      
Forfeited/Cancelled   -    -    -      
Exercised   (50,000)   2.00    1.22      
Outstanding at September 30, 2022   485,000   $8.81   $2.43    4.3 
Schedule of Recognized Stock-based Compensation Expense

The Company recognized stock-based compensation expense related to the types of awards discussed above as follows:

 

   2022   2021   2022   2021 
   Three Months Ended September 30,   Nine Months Ended September 30, 
   2022   2021   2022   2021 
Options  $-   $66,247   $78,115   $219,033 
Restricted stock units   2,230,434    1,344,698    5,060,700    3,580,360 
Stock   -    -    -    51,900 
Total stock-based compensation expense  $2,230,434   $1,410,945   $5,138,815   $3,851,293