Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.20.2
Stock Options and Restricted Stock Units (Tables)
 6 Months Ended
Jun. 30, 2020
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 six months ended June 30, 2020 is as follows:

 

   

Number

Outstanding

    

Weighted

Avg. Exercise

Price

    

Weighted

Avg.

Remaining

Contractual

Life (Years)

  
Balance, December 31, 2019     8,515,480     $ 0.12       4.2  
Options issued     3,200,000       0.02       9.5  
Balance, June 30, 2020     11,715,480       0.07       6.2  

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, June 30, 2020     11,515,480     $ 0.07       6.2  
                         

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 six months ended June 30, 2020:

 

   

Six Months Ended

June 30, 2020

  
Risk free interest rate     1.610 %
Expected volatility     149.67 %
Expected dividend yield     - %
Expected term in years     5.0