Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.20.1
Stock Options and Restricted Stock Units (Tables)
 3 Months Ended
Mar. 31, 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 period March 31, 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       4.5  
Options issued     3,200,000       0.02       9.8  
Balance, March 31, 2020     11,715,480       0.07       6.5  

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, March 31, 2020     11,515,480     $ 0.07       6.5  
                         

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 three months ended March 31, 2020:

 

    Three Months Ended
March 31, 2020		  
Risk free interest rate     1.610 %
Expected volatility     149.67 %
Expected dividend yield     - %
Expected term in years     5.0