Quarterly report pursuant to Section 13 or 15(d)

Stock Option Plans (Tables)

v3.19.1
Stock Option Plans (Tables)
3 Months Ended
Mar. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

A summary of stock option activity is as follows:

 

    Options     Weighted
average
exercise price
    Weighted
average
remaining
contractual
term in years
    Aggregate
intrinsic value
 
Outstanding January 1, 2018     38,213,427     $ 0.41       5.23     $ 562,456  
Exercisable January 1, 2018     36,213,427     $ 0.41       4.98     $ 562,456  
Canceled     (350,000 )                        
Granted     2,833,334                          
Exercised     (200,000 )                        
Forfeited     -                          
Outstanding December 31, 2018     40,496,761     $ 0.40       4.52     $ 986,808  
Exercisable December 31, 2018     37,157,179     $ 0.41       4.10     $ 966,808  
Canceled     -                          
Granted     -                          
Exercised     -                          
Forfeited     -                          
Outstanding March 31, 2019     40,496,761     $ 0.40       4.28     $ 664,331  
Exercisable March 31, 2019     37,559,261     $ 0.41       3.90     $ 660,435  

Schedule of Non-vested Shares Granted Under Stock Option Plan

A summary of the Company’s non-vested options for the three-months ended March 31, 2019 and year ended December 31, 2018, are presented below:

 

Non-vested at January 1, 2018     2,000,000  
Granted     2,833,334  
Vested     (1,143,752 )
Canceled     (350,000  
Non-vested at December 31, 2018     3,339,582  
Granted     -  
Vested     (402,082 )
Canceled     -  
Non-vested at March 31, 2019     2,937,500  

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options issued were as follows for the:

 

    Three-months
ended
March 31, 2019
    Year
ended
December 31, 2018
 
Dividend yield     0.0 %     0.0 %
Risk-free rate     2.38% - 3.04 %     2.38% - 3.04 %
Expected volatility     214% - 226 %     214% - 226 %
Expected term     3 - 7 years       3 - 7 years  

Schedule of Recognized Stock Based Compensation Expense

The Company recognized stock-based compensation expense related to options during the:

 

    Three-months ended March 31  
    2019     2018  
    Amount     Amount  
Service provider compensation   $ 44,375     $ 9,375  
Employee compensation     42,125       60,125  
                 
Total   $ 86,500     $ 69,500