Quarterly report pursuant to Section 13 or 15(d)

OPTIONS AND WARRANTS

v3.20.1
OPTIONS AND WARRANTS
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
OPTIONS AND WARRANTS

NOTE 10 – OPTIONS AND WARRANTS


Stock Options:


The following table summarizes all option grants outstanding to consultants, directors and employees as of March 31, 2020 and December 31, 2019 and the related changes during these periods are presented below.


 

 

March 31,
2020

 

 

December 31,
2019

 

Options outstanding and exercisable

 

 

5,042,500

 

 

 

5,042,500

 

Weighted-average exercise price

 

$

0.40

 

 

$

0.40

 

Aggregate intrinsic value

 

$

—

 

 

 

—

 

Weighted-average remaining contractual term (years)

 

 

4.41

 

 

 

4.66

 


The Company chose the “straight-line” attribution method for allocating compensation costs of each stock option over the requisite service period using the Black-Scholes Option Pricing Model to calculate the grant date fair value.


During the three months ended March 31, 2020, no options were issued, exercised or cancelled.


Stock Warrants:


The following table summarizes all warrant grants outstanding to consultants, directors and employees as well as investors as of March 31, 2020 and December 31, 2019 and the related changes during these periods are presented below.


 

 

March 31,
2020

 

 

December 31,
2019

 

Warrants outstanding and exercisable

 

 

29,849,761

 

 

 

29,849,761

 

Weighted-average exercise price

 

$

0.21

 

 

$

0.23

 

Aggregate intrinsic value

 

$

429,000

 

 

$

1,956,750

 

Weighted-average remaining contractual term (years)

 

 

3.32

 

 

 

3.64

 


During the three months ended March 31, 2020, no warrants were issued, exercised or cancelled.


During the three months ended March 31, 2020 and 2019, total stock-based compensation expense amounted to $0 and $73,603, respectively.