Annual report pursuant to Section 13 and 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.20.1
Stock Options and Restricted Stock Units (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [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, 2018 through December 31, 2019 follows:

 

    Number
Outstanding		     Weighted
Avg. Exercise
Price		     Weighted
Avg.
Remaining
Contractual
Life (Years)		  
Balance, December 31, 2017     6,915,480     $ 0.21       4.6  
Options issued     1,600,000       0.10       8.3  
Options exercised     -                  
Options cancelled     -                  
Balance, December 31, 2018     8,515,480     $ 0.12       5.5  
Balance, December 31, 2019     8,515,480     $ 0.12       4.5  

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, December 31, 2019     8,515,480     $ 0.19       5.00  
                         

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

The fair value of new stock options granted and repriced stock options using the Black-Scholes option pricing model was calculated using the following assumptions for the year ended December 31, 2018:

 

   

Year Ended

December 31, 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