Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Value of Each Option Award Estimated Assumption

For stock options requiring an assessment of value during the nine months ended September 30, 2019, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate     1.47% to 1.85 %
Expected dividend yield     0 %
Expected volatility     133.01% to 171.87 %
Expected life     5 years  

 

For stock options requiring an assessment of value during the nine months ended September 30, 2018, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate     2.44% to 3.01 %
Expected dividend yield     0 %
Expected volatility     170.32 %
Expected life     0.5 to 5.5 years  

Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months and nine months ended September 30, 2019 and 2018 is as follows:

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2019     2018     2019     2018  
                         
Related parties   $ 5,030     $ 772,390     $ 314,631     $ 772,390  
Non-related parties     434,024             434,024        
Total stock-based compensation costs   $ 439,054     $ 772,390     $ 748,655     $ 772,390  

Summary of Stock Option Activity Including Options Form of Warrants

A summary of stock option activity, including options issued in the form of warrants, during the nine months ended September 30, 2019 is presented below.

 

    Number of Shares     Weighted Average
Exercise Price
    Weighted Average
Remaining
Contractual
Life (in Years)
 
                   
Stock options outstanding at December 31, 2018     7,750,000     $ 0.583          
Granted     800,000       1.038          
Exercised                    
Expired     (500,000 )     0.250          
Stock options outstanding at September 30, 2019     8,050,000     $ 0.605       3.31  
                         
Stock options exercisable at September 30, 2019     8,050,000     $ 0.605       3.31  

Schedule of Exercise Prices of Common Stock Options Outstanding and Exercisable Including Options Form of Warrants

The exercise prices of common stock options outstanding and exercisable, including options issued in the form of warrants, at September 30, 2019 are as follows:

 

Exercise
Prices
    Options
Outstanding (Shares)
    Options
Exercisable (Shares)
 
               
$ 0.120       450,000       450,000  
$ 0.150       300,000       300,000  
$ 0.160       200,000       200,000  
$ 0.200       500,000       500,000  
$ 0.280       400,000       400,000  
$ 0.500       4,400,000       4,400,000  
$ 1.000       1,000,000       1,000,000  
$ 1.100       300,000       300,000  
$ 2.000       500,000       500,000  
          8,050,000       8,050,000