Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.10.0.1
Stock Options and Restricted Stock Units (Tables)
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Common Stock Options Issued Under Option Plans

A summary of the common stock options issued under the Option Plans and the 2016 Plan for the period from December 31, 2017 through September 30, 2018 follows:

 

    Number
Outstanding 		   

Weighted

Avg. Exercise
Price

    

Weighted

Avg.
Remaining
Contractual
Life (Years)

  
Balance, December 31, 2017     6,915,480     $ 0.21       5.6  
Options issued     1,600,000       0.10       9.5  
Options exercised     —       —       —  
Options cancelled     —       —       —  
Balance, September 30, 2018     8,515,480     $ 0.12       5.7  

Schedule of Vested and Exercisable Options at Period End

The vested and exercisable options at period end follows:

 

   

Exercisable/

Vested

Options Outstanding

     Weighted
Avg. Exercise
Price 		   

Weighted

Avg.

Remaining Contractual

Life (Years)

  
Balance, September 30, 2018     7,672,147     $ 0.13       5.3  

Schedule of Fair Value of New Stock Options Granted Using the Assumptions

The fair value of new stock options and warrants granted and repriced stock options using the Black-Scholes option pricing model was calculated using the following assumptions:

 

   

Nine Months

September 30, 2018

  
Risk free interest rate     2.61 – 2.66 %
Expected volatility     131.4 %
Expected dividend yield     0 %
Expected term in years     3.0  
Average value per options   $ 0.04 – 0.05