Annual report pursuant to Section 13 and 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.19.1
Stock Options and Restricted Stock Units (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2018 follows:

 

    Number
Outstanding
   

Weighted

Avg. Exercise
Price

   

Weighted

Avg.
Remaining
Contractual
Life (Years)

 
Balance, December 31, 2016     6,115,480     $ 0.21       7.1  
Options issued     800,000       0.21       9.2  
Options exercised     -                  
Options cancelled     -                  
Balance, December 31, 2017     6,915,480     $ 0.21       5.6  
Options issued     1,600,000       0.10       9.3  
Options exercised                  
Options cancelled                  
Balance, December 31, 2018     8,515,480     $ 0.12       5.5  

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, 2018     8,515,480     $ 0.19       6.00  

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 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  

 

The fair value of new stock options and warrants granted using the Black-Scholes option pricing model was calculated using the following assumptions for the year ended December 31, 2017:

 

   

Year Ended

December 31, 2017

 
Risk free interest rate     1.28-1.84 %
Expected volatility     101.2-125.0 %
Expected dividend yield     0 %
Expected term in years     2.08-5.25   
Average value per options   $ 0.04-0.08