Stock Option Plans (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2019 |
Dec. 31, 2018 |
| 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 |
|
|
(58,336 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding September 30, 2019 |
|
|
40,438,425 |
|
|
$ |
0.40 |
|
|
|
3.77 |
|
|
$ |
149,089 |
|
| Exercisable September 30, 2019 |
|
|
38,130,093 |
|
|
$ |
0.41 |
|
|
|
3.48 |
|
|
$ |
149,089 |
|
|
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, 2017 |
|
|
36,821,969 |
|
|
$ |
0.41 |
|
|
|
5.94 |
|
|
$ |
301,273 |
|
| Exercisable January 1, 2017 |
|
|
36,771,969 |
|
|
$ |
0.41 |
|
|
|
5.94 |
|
|
$ |
299,273 |
|
| Canceled |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
2,161,458 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(770,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding December 31, 2017 |
|
|
38,213,427 |
|
|
$ |
0.41 |
|
|
|
5.23 |
|
|
$ |
562,456 |
|
| Exercisable December 31, 2017 |
|
|
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 |
|
|
| Schedule of Non-vested Shares Granted Under Stock Option Plan |
A summary of the Company’s
non-vested options for the nine-months ended September 30, 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 |
|
|
(972,914 |
) |
| Canceled |
|
|
(58,336 |
) |
| Non-vested at September 30, 2019 |
|
|
2,308,332 |
|
|
A summary of the Company’s
non-vested options for the years ended December 31, 2018 and 2017 are presented below:
| Non-vested at January 1, 2017 |
|
|
50,000 |
|
| Granted |
|
|
2,161,458 |
|
| Vested |
|
|
(211,458 |
) |
| Canceled |
|
|
- |
|
| Non-vested at December 31, 2017 |
|
|
2,000,000 |
|
| Granted |
|
|
2,833,334 |
|
| Vested |
|
|
(1,143,752 |
) |
| Canceled |
|
|
(350,000 |
) |
| Non-vested at December 31, 2018 |
|
|
3,339,582 |
|
|
| Schedule of Fair Value Assumptions |
The range of fair value assumptions
related to options issued were as follows for the:
| |
|
Nine-months ended
September 30, 2019 |
|
|
Year ended
December 31, 2018 |
|
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Risk-free rate |
|
|
2.38% - 3.04 |
% |
|
|
2.38% - 3.04 |
% |
| Volatility |
|
|
214% - 226 |
% |
|
|
214% - 226 |
% |
| Expected term |
|
|
3 - 7 years |
|
|
|
3 - 7 years |
|
|
The range of fair value assumptions
related to options issued were as follows for the years ended December 31:
| |
|
2018 |
|
|
2017 |
|
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Risk-free rate |
|
|
2.38% - 3.04 |
% |
|
|
1.89% - 2.26 |
% |
| Expected volatility |
|
|
214% - 226 |
% |
|
|
221% - 232 |
% |
| Expected term |
|
|
3 - 7 years |
|
|
|
5 - 7 years |
|
|
| Schedule of Recognized Stock Based Compensation Expense |
The Company recognized stock-based
compensation expense related to options during the:
| |
|
Nine-months ended September 30 |
|
| |
|
2019 |
|
|
2018 |
|
| |
|
Amount |
|
|
Amount |
|
| Service provider compensation |
|
$ |
133,125 |
|
|
$ |
76,250 |
|
| Employee compensation |
|
|
124,750 |
|
|
|
156,875 |
|
| Total |
|
$ |
257,875 |
|
|
$ |
233,125 |
|
|
The Company recognized stock-based
compensation expense related to options during the:
| |
|
Years ended December 31 |
|
| |
|
2018 |
|
|
2017 |
|
| |
|
Amount |
|
|
Amount |
|
| Service provider compensation |
|
$ |
124,896 |
|
|
$ |
3,500 |
|
| Employee compensation |
|
|
205,250 |
|
|
|
33,271 |
|
| Director compensation |
|
|
- |
|
|
|
25,000 |
|
| |
|
|
|
|
|
|
|
|
| Total |
|
$ |
330,146 |
|
|
$ |
61,771 |
|
|