Quarterly report pursuant to Section 13 or 15(d)

OPTIONS AND WARRANTS (Tables)

v3.19.3
OPTIONS AND WARRANTS (Tables)
9 Months Ended
Sep. 30, 2019
Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summary of Options and Warrants Assumptions to Estimate Fair Value of Options Granted

The Company used the following assumptions to estimate the fair value of options granted under its stock option plans for the three and nine months ended September 30, 2019 and 2018:


 

 

For the nine months ended
September 30,

 

 

 

2019

 

 

2018

 

Risk-free interest rate (weighted average)

 

 

2.37

%

 

 

0.00

%

Expected volatility (weighted average)

 

 

132.25

%

 

 

0.00

%

Expected term (in years)

 

 

4

 

 

 

0

 

Expected dividend yield

 

 

0.00

%

 

 

0.00%

Schedule of Stock Options and Warrants Activity

The following table summarize all options grants to consultants, directors and employees for the three and nine months ended September 30, 2019 and September 30, 2018 and the related changes during these periods are presented below.


 

 

September 30,
2019

 

 

September 30,
2018

 

Options outstanding and exercisable

 

 

5,042,500

 

 

 

4,600,000

 

Weighted-average exercise price

 

$

0.40

 

 

$

0.42

 

Aggregate intrinsic value

 

$

—

 

 

 

—

 

Weighted-average remaining contractual term (years)

 

 

4.9

 

 

 

4.3

 

Stock Warrants [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summary of Options and Warrants Assumptions to Estimate Fair Value of Options Granted

The Company used the following assumptions to estimate the fair value of warrants granted under its stock warrant plans for the nine months ended September 30, 2019 and 2018:


 

 

For the nine months ended
September 30,

 

 

 

2019

 

 

2018

 

Risk-free interest rate (weighted average)

 

 

2.38

%

 

 

2.72

%

Expected volatility (weighted average)

 

 

122.22

%

 

 

132.94

%

Expected term (in years)

 

 

3

 

 

 

3

 

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Schedule of Stock Options and Warrants Activity

The following table summarize all warrants grants to consultants, directors and employees as well as investors for the nine months ended September 30, 2019 and the related changes during these periods are presented below.


 

 

September 30,
2019

 

 

September 30,
2018

 

Warrants outstanding and exercisable

 

 

30,276,190

 

 

 

9,025,000

 

Weighted-average exercise price

 

$

0.20

 

 

$

0.37

 

Aggregate intrinsic value

 

$

2,032,917

 

 

123,250

 

Weighted-average remaining contractual term (years)

 

 

3.95

 

 

 

4.32