Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

EQUITY (Tables)
9 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of each option awarded is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on historical volatility of Common Stock. The expected life of the options granted represents the period of time from date of grant to expiration. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant. On March 29, 2021, 99,990 stock options were granted with an exercise price of $6.53 per option and have a five-year term with a two-year vesting period at 50% per annum. During the period ended September 30, 2021, 3,000 stock options were forfeited at an exercise price of $6.53. The fair value of stock options granted was $4.888 per option on the date of grant using the Black Scholes option-pricing model with the following assumptions:


Dividend Yield


Risk-free Interest Rate 













5 years