Share Based Compensation (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Dec. 31, 2020 |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Schedule of Fair Value of Options Granted with Assumptions |
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| |
| |
|
For the Nine Months
Ended September 30,
2021 |
|
For the Nine Months
Ended September 30,
2020 |
| |
|
$10.58-$11.20 |
|
$3.11-$3.26 |
Stock price at grant date |
|
$26.88-$33.42 |
|
$11.52-$12.50 |
Exercise price at grant date |
|
$26.88-$33.42 |
|
$11.52-$12.50 |
| |
|
3.00 - 3.50 |
|
1.58 - 2.00 |
| |
|
49.88% - 53.75% |
|
49.10% - 50.15% |
Expected annual rate of dividends |
|
0% |
|
0% |
Risk free annual interest rate |
|
0.16% - 0.79% |
|
1.40 - 1.58% |
|
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| |
| |
|
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|
| |
|
$ |
3.11 – $3.26 |
|
Stock Price at Grant Date |
|
$ |
11.52 – $12.50 |
|
Exercise Price at Grant Date |
|
$ |
11.52 – $12.50 |
|
| |
|
|
1.58 – 2.00 |
|
| |
|
|
49.10% –50.15 |
% |
Expected Annual Rate of Dividends |
|
|
0 |
% |
Risk Free Annual Interest Rate |
|
|
1.40% – 1.58 |
% |
|
| Schedule of Number and Weighted-average Exercise Prices and Remaining Contractual Life of Options |
The number and weighted-average exercise prices and remaining contractual life of options at September 30, 2021 were as follows:
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Weighted
average
exercise price |
|
|
Weighted
average
remaining
contractual
life (yrs) |
|
|
|
|
Outstanding at January 1, 2021 |
|
|
1,129,774 |
|
|
|
11.72 |
|
|
|
4.01 |
|
|
|
— |
|
| |
|
|
877,509 |
|
|
|
29.32 |
|
|
|
3.55 |
|
|
|
— |
|
| |
|
|
(36,787 |
) |
|
|
11.52 |
|
|
|
— |
|
|
|
— |
|
| |
|
|
— |
|
|
|
— |
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|
|
— |
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|
|
— |
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| |
|
|
|
|
|
|
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|
Outstanding, September 30, 2021 |
|
|
1,970,496 |
|
|
$ |
19.56 |
|
|
|
4.52 |
|
|
$ |
8.43 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Exercisable, September 30, 2021 |
|
|
517,672 |
|
|
$ |
11.71 |
|
|
|
3.34 |
|
|
$ |
15.20 |
|
|
The number and weighted-average exercise prices and remaining contractual life of options at December 31, 2020 were as follows:
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| |
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|
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Outstanding at January 1, 2020 |
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
| |
|
|
1,252,403 |
|
|
|
11.70 |
|
|
|
1.93 |
|
| |
|
|
(9,180 |
) |
|
|
11.52 |
|
|
|
— |
|
| |
|
|
(113,444 |
) |
|
|
11.52 |
|
|
|
— |
|
| |
|
|
|
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|
|
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|
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|
Outstanding, December 31, 2020 |
|
|
1,129,779 |
|
|
|
11.72 |
|
|
|
1.92 |
|
| |
|
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|
|
|
|
|
|
|
|
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|
Exercisable, December 31, 2020 |
|
|
554,456 |
|
|
$ |
11.70 |
|
|
|
— |
|
|
| Schedule of Restricted Stock Units |
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| |
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|
Number of
restricted stock
units |
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|
Weighted average
grant price |
|
Balance as of January 1, 2021 |
|
|
— |
|
|
|
— |
|
| |
|
|
3,249,319 |
|
|
|
25.45 |
|
| |
|
|
(2,904,079 |
) |
|
|
25.28 |
|
| |
|
|
— |
|
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|
— |
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| |
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|
Balance as of September 30, 2021 |
|
|
345,240 |
|
|
$ |
26.88 |
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| |
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| Summary of warrants issued and outstanding to certain employees and director |
The following table summarizes the warrants issued and outstanding to certain employees and directors of the Company as of December 31, 2020 and the changes during the nine months ended September 30, 2021:
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| |
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|
Weighted
average
exercise price
($CAD) |
|
|
Weighted
average
remaining
contractual life
(yrs) |
|
Outstanding as of January 1, 2021 |
|
|
6,061,561 |
|
|
|
6.00 |
|
|
|
0.72 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
— |
|
|
|
— |
|
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|
— |
|
| |
|
|
(2,075,990 |
) |
|
|
6.00 |
|
|
|
— |
|
Exchanged in cashless exercise |
|
|
(413,057 |
) |
|
|
— |
|
|
|
— |
|
| |
|
|
(3,572,514 |
) |
|
|
— |
|
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|
— |
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| |
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|
Outstanding as of September 30, 2021 |
|
|
— |
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|
— |
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— |
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| |
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The following table summarizes the warrants issued and outstanding to certain employees and directors of the Company as of December 31, 2020 and 2019 and the changes during the year ended December 31, 2020:
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Outstanding as of December 31, 2018 |
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|
8,784,872 |
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|
|
6.00 |
|
|
|
2.72 |
|
| |
|
|
— |
|
|
|
— |
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|
|
— |
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| |
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|
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|
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|
| |
|
|
— |
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— |
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— |
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| |
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|
Outstanding as of December 31, 2019 |
|
|
8,784,872 |
|
|
|
6.00 |
|
|
|
1.72 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
— |
|
|
|
— |
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— |
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| |
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|
|
|
|
| |
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|
2,723,311 |
|
|
|
— |
|
|
|
— |
|
| |
|
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|
|
|
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|
Outstanding as of December 31, 2020 |
|
|
6,061,561 |
|
|
|
6.00 |
|
|
|
0.72 |
|
|
| Warrants [Member] |
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Schedule of Fair Value of Options Granted with Assumptions |
|
The following were the assumptions utilized in the model during the year ended December 31, 2020
|
|
|
|
| |
| |
|
|
|
| |
|
$ |
6.00 |
|
| |
|
$ |
6.00 |
|
| |
|
|
3.00 |
|
| |
|
|
51 |
% |
Annual Rate of Quarterly Dividends |
|
|
0 |
% |
Discount Rate—Bond Equivalent Yield |
|
|
3 |
% |
|