Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 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 year ended December 31, 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 year ended December 31, 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 years ended December 31, 2019 and 2018 is as follows:

 

   

Years Ended

December 31,

  
    2019     2018  
             
Related parties   $ 314,631     $ 785,612  
Non-related parties     434,024       —  
Total stock-based compensation costs   $ 748,655     $ 785,612  

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 years ended December 31, 2019 and 2018 is presented below.

 

          Weighted     Weighted
Average
Remaining		  
    Number of     Average     Contractual  
    Shares     Exercise Price     Life (in Years)  
                   
Stock options outstanding at December 31, 2017     7,470,000     $ 0.545          
Granted     400,000       0.280          
Exercised     (20,000 )     0.150          
Expired     (100,000 )     0.130          
Stock options outstanding at December 31, 2018     7,750,000       0.583          
Granted     800,000       1.038          
Exercised     —       —          
Expired     (700,000 )     0.321          
Stock options outstanding at December 31, 2019     7,850,000     $ 0.608       3.14  
                         
Stock options exercisable at December 31, 2018     7,550,000     $ 0.545          
Stock options exercisable at December 31, 2019     7,850,000     $ 0.608       3.14  

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 December 31, 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       4,200,000       4,200,000  
$ 1.000       1,000,000       1,000,000  
$ 1.100       300,000       300,000  
$ 2.000       500,000       500,000  
          7,850,000       7,850,000