Kartoon Studios, Inc. Annual report pursuant to Section 13 and 15(d)

13. Stock Options (Tables)

12 Months Ended

Dec. 31, 2019

The following table summarizes the changes in the Company’s stock option plan during the year ended December 31, 2019:

	Options Outstanding Number of Shares		Exercise Price Per Share		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value		Weighted Average Exercise Price Per Share

Balance at December 31, 2017		1,294,045		$2.09 - $12.00		years	$	–	$	8.14
Options Granted		170,176		2.09		years	$	–	$	2.09
Options Exercised		–
Options Cancelled		57,294		$9.00 - $12.00		years	$	–	$	10.08
Options Expired		147,512		$2.80 - $6.00		years	$	–	$	4.30

Balance at December 31, 2018		1,259,415		$2.09 - $12.00		2.50 years	$	–	$	7.39
Options Granted		81,000		1.99		3 years	$	–	$	1.99
Options Exercised		–
Options Cancelled		50,549		$1.99 – 2.70		4.51 years	$	–	$	6.34
Options Expired		–
Balance at December 31, 2019		1,289,866		$1.99 – 12.00		6.49 years	$	–	$	7.18

Exercisable December 31, 2018		1,089,2396		$2.70 - $9.00		7.70 years	$	–	$	8.32
Exercisable December 31, 2019		1,176,416		$1.99 – 9.00		6.25			$	7.67

The fair value of these options was determined to be $117,797 using the Black-Scholes option pricing model based on the following assumptions: