EQUITY (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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| Equity [Abstract] |
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| Schedule of Warrants Outstanding and Exercisable |
The following table summarizes the status of warrants and related transactions:
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Non-Derivative (Equity) Warrants |
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Derivative Liabilities Warrants |
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Total Number of Warrants |
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Weighted - Average Exercise Price |
Balance as of January 1, 2024 |
49,068,636 |
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37,862,922 |
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86,931,558 |
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$ |
1.12 |
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Granted (1)
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2,050,000 |
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— |
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2,050,000 |
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$ |
0.97 |
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| Cancelled/forfeited/expired |
(416,667) |
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— |
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(416,667) |
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$ |
1.56 |
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Balance as of June 30, 2024 |
50,701,969 |
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37,862,922 |
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88,564,891 |
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$ |
1.12 |
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Exercisable as of June 30, 2024 |
49,141,969 |
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37,862,922 |
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87,004,891 |
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$ |
1.12 |
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| Schedule of Share-Based Payment Award, Warrants, Valuation Assumptions |
The following assumptions were used for the calculation at date of issuance:
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| Weighted average stock price |
$0.93 |
| Weighted average expected stock price volatility |
76.5% |
| Expected annual dividend yield |
0% |
Weighted average expected life of warrants |
3.1 years |
| Weighted average risk-free annual interest rate |
4.1% |
| Weighted average grant date fair value |
$0.48 |
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| Schedule of Stock Options Outstanding |
The following table summarizes the status of stock options and related transactions:
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Number of Stock Options |
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Weighted-Average Per Share Exercise Price |
| Issued and Outstanding as of January 1, 2024 |
27,653,184 |
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$ |
1.40 |
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| Granted |
1,905,000 |
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$ |
0.70 |
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Exercised |
(11,666) |
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$ |
0.60 |
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| Cancelled/forfeited/expired |
(2,936,498) |
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$ |
1.70 |
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| Issued and Outstanding as of June 30, 2024 |
26,610,020 |
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$ |
1.31 |
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| Exercisable as of June 30, 2024 |
16,531,064 |
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$ |
1.61 |
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| Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
The following assumptions were used for the calculation at date of grant:
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Six Months Ended June 30, |
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2024 |
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2023 |
| Weighted average stock price |
$0.70 |
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$0.51 |
| Weighted average expected stock price volatility |
77.9% |
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76.9% |
| Expected annual dividend yield |
0% |
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0% |
| Weighted average expected life |
5.1 years |
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6.0 years |
| Weighted average risk-free annual interest rate |
4.3% |
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3.6% |
| Weighted average grant date fair value |
$0.46 |
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$0.34 |
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| Schedule of Nonvested Restricted Stock Shares Activity |
The following table summarizes the status of restricted stock and related transactions:
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Number of Restricted Subordinate Voting Shares |
| Unvested restricted stock as of January 1, 2024 |
1,861 |
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| Unvested restricted stock as of June 30, 2024 |
1,861 |
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| Schedule of Components of Share-based Compensation Expense |
The components of share-based compensation expense are as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
| Stock options |
$ |
594 |
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$ |
1,862 |
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$ |
1,949 |
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$ |
3,458 |
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| Restricted stock |
1 |
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93 |
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2 |
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293 |
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| Warrants |
(248) |
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408 |
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(80) |
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923 |
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| Total share-based compensation expense |
$ |
347 |
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$ |
2,363 |
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$ |
1,871 |
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$ |
4,674 |
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