Annual report pursuant to Section 13 and 15(d)

Stock Option Plans (Tables)

v3.20.1
Stock Option Plans (Tables)
 12 Months Ended
Dec. 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     191,119     $ 82.79       5.23     $ 562,579  
Exercisable January 1, 2018     181,119     $ 82.40       4.97     $ 562,579  
Canceled     (1,750 )                        
Granted     14,168                          
Exercised     (1,000 )                        
Forfeited     -                          
Outstanding December 31, 2018     202,537     $ 80.13       4.52     $ 987,064  
Exercisable December 31, 2018     185,837     $ 82.13       4.10     $ 967,064  
Canceled     (291 )                        
Granted     -                          
Exercised     -                          
Forfeited     -                          
Outstanding December 31, 2019     202,246     $ 80.14       3.52     $ -  
Exercisable December 31, 2019     192,108     $ 81.32       3.26     $ -  

Schedule of Non-vested Shares Granted Under Stock Option Plan

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

 

Non-vested at January 1, 2018     10,000  
Granted     14,168  
Vested     (5,718 )
Canceled     (1,750 )
Non-vested at December 31, 2018     16,700  
Granted     -  
Vested     (6,271 )
Canceled     (291)  
Non-vested at December 31, 2019     10,138  

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options issued were as follows for the years ended December 31:

 

    2019    
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  

Schedule of Recognized Stock Based Compensation Expense

The Company recognized stock-based compensation expense related to options during the years ended December 31:

 

    2019     2018  
Service provider compensation   $ 177,500     $ 124,896  
Employee compensation     164,438       205,250  
Total   $ 341,938     $ 330,146