Annual report pursuant to Section 13 and 15(d)

Stock Option Plans (Tables)

v3.19.1
Stock Option Plans (Tables)
12 Months Ended
Dec. 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 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 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 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:

 

    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