|6 Months Ended
Jun. 30, 2022
|Subsequent Events [Abstract]
14. SUBSEQUENT EVENTS
The Company has evaluated subsequent events through August 15, 2022, the date these condensed consolidated financial statements were issued. There were no material events or transactions that require disclosure in the financial statements other than the items discussed below.
Issuance of Common Stock
Subsequent to June 30, 2022, the Company issued 342,799 shares of common stock to vendors for services rendered with a grant date fair value of $189. These shares of common stock were valued based on the closing price of the Company’s common stock on the date of issuance or the date the Company entered into the agreement related to the issuance.
Subsequent to June 30, 2022, the Company issued 124,113 shares of common stock to certain officers and employees associated with the vesting of restricted stock units.
Issuances of Stock Options
Subsequent to June 30, 2022, the Company granted stock options to certain employees to purchase a total of 37,000 stock options for services to be rendered. The options have an average exercise price of $0.56 per share, expire in five years, and vest four years from grant date. The total grant date fair value of these options was $19 based on the Black-Scholes option pricing model.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef