Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
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, 2020, 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     0.23% to 0.31 %
Expected dividend yield     0 %
Expected volatility     207.67 %
Expected life     4 to 5 years  

 

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     4 years  
Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months and nine months ended September 30, 2020 and 2019 is as follows:

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
                         
Related parties   $ 394,031     $ 5,030     $ 394,031     $ 314,631  
Non-related parties     670,715       434,024       670,715       434,024  
Total stock-based compensation costs   $ 1,064,746     $ 439,054     $ 1,064,746     $ 748,655  
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, 2020 is presented below.

 

    Number of Shares     Weighted Average Exercise Price    

Weighted Average Remaining Contractual

Life (in Years)

 
                   
Stock options outstanding at December 31, 2019     7,850,000     $ 0.608          
Granted     1,200,000       1.190          
Exercised                    
Expired                    
Stock options outstanding at September 30, 2020     9,050,000     $ 0.685       3.27  
                         
Stock options exercisable at September 30, 2020     8,150,000     $ 0.629       3.10  
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, 2020 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       4,200,000       4,200,000  
$ 1.000       1,000,000       1,000,000  
$ 1.100       300,000       300,000  
$ 1.190       1,200,000       300,000  
$ 2.000       500,000       500,000  
          9,050,000       8,150,000