Stock Option Plans (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2018 |
Dec. 31, 2017 |
| 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 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 |
|
|
1,833,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(156,997 |
) |
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(43,003 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding September 30, 2018 |
|
|
39,496,761 |
|
|
$ |
0.41 |
|
|
|
4.64 |
|
|
$ |
986,808 |
|
| Exercisable September 30, 2018 |
|
|
36,580,097 |
|
|
$ |
0.41 |
|
|
|
4.28 |
|
|
$ |
963,475 |
|
|
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, 2016 |
|
|
34,167,354 |
|
|
$ |
0.47 |
|
|
|
6.57 |
|
|
$ |
974,066 |
|
| Exercisable January 1, 2016 |
|
|
34,167,354 |
|
|
$ |
0.47 |
|
|
|
6.57 |
|
|
$ |
974,066 |
|
| Canceled |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
6,156,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(3,501,965 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding December 31, 2016 |
|
|
36,821,969 |
|
|
$ |
0.41 |
|
|
|
5.94 |
|
|
$ |
301,273 |
|
| Exercisable December 31, 2016 |
|
|
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 |
|
|
| 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 nine-months ended September 30, 2018, 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 |
|
|
1,833,334 |
|
| Vested |
|
|
(566,670 |
) |
| Canceled |
|
|
(350,000 |
) |
| Non-vested at September 30, 2018 |
|
|
2,916,664 |
|
|
A summary of the Company’s
non-vested options for the years ended December 31, 2017 and year ended December 31, 2016 are presented below:
| Non-vested at January 1, 2016 |
|
|
- |
|
| Granted |
|
|
6,156,580 |
|
| Vested |
|
|
(6,106,580 |
) |
| Forfeited |
|
|
- |
|
| Non-vested at December 31, 2016 |
|
|
50,000 |
|
| Granted |
|
|
2,161,458 |
|
| Vested |
|
|
(211,458 |
) |
| Forfeited |
|
|
- |
|
| Non-vested at December 31, 2017 |
|
|
2,000,000 |
|
|
| 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, 2018
|
|
|
Year ended
December 31, 2017
|
|
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Risk-free rate |
|
|
2.38% - 2.80 |
% |
|
|
1.89% - 2.26 |
% |
| Expected volatility |
|
|
217% - 226 |
% |
|
|
221% - 232 |
% |
| Expected term |
|
|
3 - 7 years |
|
|
|
5 - 7 years |
|
|
The range of fair value assumptions
related to options issued outstanding were as follows for the years ended December 31:
| |
|
2017 |
|
|
2016 |
|
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Risk-free rate |
|
|
1.89% - 2.26 |
% |
|
|
0.80% - 1.03 |
% |
| Expected volatility |
|
|
221% - 232 |
% |
|
|
141% - 225 |
% |
| Expected term |
|
|
5 - 7 years |
|
|
|
5 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 |
|
| |
|
2018 |
|
|
2017 |
|
| |
|
Number |
|
|
Amount |
|
|
Number |
|
|
Amount |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Employee compensation |
|
|
450,000 |
|
|
$ |
156,875 |
|
|
|
- |
|
|
$ |
- |
|
| Compensation for outside services |
|
|
375,000 |
|
|
|
76,250 |
|
|
|
50,000 |
|
|
|
3,500 |
|
| Director compensation |
|
|
- |
|
|
|
- |
|
|
|
161,458 |
|
|
|
25,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
825,000 |
|
|
$ |
233,125 |
|
|
|
211,458 |
|
|
$ |
28,500 |
|
|
The Company recognized stock
based compensation expense related to options during the:
| |
|
Years ended December 31 |
|
| |
|
2017 |
|
|
2016 |
|
| |
|
Number |
|
|
Amount |
|
|
Number |
|
|
Amount |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| In lieu of accrued salaries |
|
|
- |
|
|
$ |
- |
|
|
|
3,796,385 |
|
|
$ |
227,784 |
|
| In lieu of accrued fees for outside services |
|
|
- |
|
|
|
- |
|
|
|
1,107,417 |
|
|
|
66,445 |
|
| Compensation for outside services |
|
|
50,000 |
|
|
|
3,500 |
|
|
|
50,000 |
|
|
|
3,500 |
|
| Employee compensation (unvested) |
|
|
2,000,000 |
|
|
|
33,271 |
|
|
|
- |
|
|
|
- |
|
| Director compensation |
|
|
161,458 |
|
|
|
25,000 |
|
|
|
1,152,778 |
|
|
|
79,167 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
2,211,458 |
|
|
$ |
61,771 |
|
|
|
6,106,580 |
|
|
$ |
376,896 |
|
|