Stock Option Plans (Tables)
|
3 Months Ended |
Mar. 31, 2018 |
|---|
| Disclosure of Compensation Related Costs, Share-based Payments [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
three-months
|
|
|
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 |
|
|
833,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding March 31, 2018 |
|
|
38,696,761 |
|
|
$ |
0.41 |
|
|
|
5.00 |
|
|
$ |
1,861,636 |
|
| Exercisable March 31, 2018 |
|
|
36,346,761 |
|
|
$ |
0.41 |
|
|
|
4.74 |
|
|
$ |
1,786,636 |
|
|
| Schedule of Non-Vested Shares Granted Under Stock Option Plan |
A summary of the Company’s
non-vested options for the year ended December 31, 2017, and three-months ended March 31, 2018, are presented below:
| Non-vested at January 1, 2017 |
|
|
50,000 |
|
| Granted |
|
|
2,161,458 |
|
| Vested |
|
|
(211,458 |
) |
| Forfeited |
|
|
- |
|
| Non-vested at December 31, 2017 |
|
|
2,000,000 |
|
| Granted |
|
|
833,334 |
|
| Vested |
|
|
(133,334 |
) |
| Canceled |
|
|
(350,000 |
) |
| Non-vested at March 31, 2018 |
|
|
2,350,000 |
|
|
| Schedule of Fair Value Assumptions |
The range of fair value assumptions
related to options issued outstanding were as follows for the:
| |
|
Three-months ended March 31, 2018 |
|
|
Year ended
December 31, 2017
|
|
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Risk-free rate |
|
|
2.38 |
% |
|
|
1.89% - 2.26 |
% |
| Expected volatility |
|
|
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:
| |
|
Three-months ended March 31 |
|
| |
|
2018 |
|
|
2017 |
|
| |
|
Number |
|
|
Amount |
|
|
Number |
|
|
Amount |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Employee compensation |
|
|
91,667 |
|
|
$ |
60,125 |
|
|
|
- |
|
|
$ |
- |
|
| Compensation for outside services |
|
|
41,667 |
|
|
|
9,375 |
|
|
|
25,000 |
|
|
|
1,750 |
|
| Director compensation |
|
|
- |
|
|
|
- |
|
|
|
78,125 |
|
|
|
12,500 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
133,334 |
|
|
$ |
69,500 |
|
|
|
103,125 |
|
|
$ |
14,250 |
|
|