EQUITY (Tables)
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9 Months Ended |
Sep. 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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2,500,000 |
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19,400,000 |
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21,900,000 |
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$ |
0.99 |
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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 September 30, 2024 |
51,151,969 |
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57,262,922 |
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108,414,891 |
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$ |
1.09 |
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Exercisable as of September 30, 2024 |
49,241,969 |
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57,262,922 |
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106,504,891 |
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$ |
1.10 |
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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 |
$0.60 |
| Weighted average expected stock price volatility |
87.1% |
| Expected annual dividend yield |
0% |
Weighted average expected life of warrants |
4.8 years |
| Weighted average risk-free annual interest rate |
4.0% |
| Weighted average grant date fair value |
$0.36 |
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| Schedule of Stock Options Outstanding |
The following table summarizes the status of stock options and related transactions:
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Number of Stock Options |
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Weighted-Average Per Share Exercise Price |
| Issued and Outstanding as of January 1, 2024 |
27,653,184 |
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$ |
1.40 |
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| Granted |
12,954,490 |
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$ |
0.57 |
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Exercised |
(64,999) |
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$ |
0.60 |
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| Cancelled/forfeited/expired |
(12,888,258) |
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$ |
1.85 |
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| Issued and Outstanding as of September 30, 2024 |
27,654,417 |
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$ |
0.80 |
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| Exercisable as of September 30, 2024 |
10,587,967 |
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$ |
1.05 |
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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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Nine Months Ended September 30, |
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2024 |
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2023 |
| Weighted average stock price |
$0.56 |
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$0.51 |
| Weighted average expected stock price volatility |
86.9% |
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76.9% |
| Expected annual dividend yield |
0% |
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0% |
| Weighted average expected life |
5.0 years |
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6.0 years |
| Weighted average risk-free annual interest rate |
3.6% |
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3.6% |
| Weighted average grant date fair value |
$0.21 |
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$0.34 |
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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 September 30, |
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Nine Months Ended September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
| Stock options |
$ |
982 |
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$ |
712 |
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$ |
2,931 |
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$ |
4,170 |
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| Restricted stock |
— |
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— |
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2 |
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293 |
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| Warrants |
100 |
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344 |
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20 |
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1,267 |
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| Total share-based compensation expense |
$ |
1,082 |
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$ |
1,056 |
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$ |
2,953 |
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$ |
5,730 |
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