Annual report pursuant to Section 13 and 15(d)

Share Based Payments and Stock Options (Tables)

v3.20.1
Share Based Payments and Stock Options (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of stock options

Awards issued under the 2014 Plan as of December 31, 2019 are summarized below:   2019  
Total Shares available for issuance pursuant to the 2014 Plan     2,500,000  
Options outstanding, December 31 2019     (995,500 )
Total options exercised under 2014 Plan     (1,118,333 )
Total shares issued pursuant to the 2014 Plan     (375,000 )
Awards available for issuance under the 2014 Plan, December 31, 2019     11,167  

 

    2019  
Total Shares available for issuance pursuant to the 2018 Plan, prior to amendment     2,500,000  
Options outstanding, December 31 2019     (281,500 )
Total options exercised under 2018 Plan     -  
Total shares issued pursuant to the 2018 Plan     (9,500 )
Awards available for issuance under the 2018 Plan, December 31, 2019     2,209,000  

Schedule of share-based payment expense and new shares issued
    2019     2018  
Expected volatility     87.8%-92.7 %     72.91%-90.81 %
Expected dividends     None       None  
Expected term     2-5 years       2.5 years  
Risk-free rate     1.64 %     1.64 %
Schedule of option outstanding
Options   Shares     Weighted-
Average Exercise
Price
    Weighted- Average Remaining Contractual Term   Weighted-
Average Grant Date Fair Value
 
                       
Outstanding at January 1, 2018     2,622,000     $ .99         $ .32  
Granted     386,500     $ 3.21         $ 1.91  
Exercised     (1,068,333 )   $ .67         $ .12  
Forfeited or expired     (124,667 )   $ .76         $ .16  
Outstanding at December 31, 2018     1,815,500     $ 1.66     2.65 years   $ .78  
Vested and exercisable at December 31 2018     1,393,831     $ 1.39     2.22 years        
                             
Outstanding at January 1, 2019     1,815,500     $ 1.66     2.65 years   $ .78  
Granted     1,380,000     $ 3.25         $ 2.18  
Exercised     (667,500 )   $ .72         $ .16  
Forfeited or expired     (11,667 )   $ 3.05         $ 1.63  
Outstanding at December 31, 2019     2,516,333     $ 2.78     3.81 years   $ 1.71  
Vested and exercisable at December 31, 2019     1,346,333     $ 2.35     3.25 years   $ 1.32