Kartoon Studios, Inc. Quarterly report pursuant to Section 13 or 15(d)

16. Stock Options (Tables)

3 Months Ended

Mar. 31, 2021

The following table summarizes the changes in the Company’s stock option plan during the three months ended March 31, 2021:

	Options Outstanding Number Of Shares		Exercise Prices Per Share		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
Balance at December 31, 2020		9,116,176	$	1.39 - 10.00		9.37 years	$	1.69		–
Options Granted		660,000	$	3.06		4.83 years	$	3.06		–
Options Exercised		–	$	–		–	$	–		–
Options Cancelled		45,000	$	2.61		4.24 years	$	2.61		–
Options Expired		–	$	–		–	$	–		–
Balance at March 31, 2021		9,731,176	$	1.39 - 10.00		8.86 years	$	1.78		–

Exercisable December 31, 2020		6,449,452	$	1.39 - 9.00		6.25 years	$	7.67		–
Exercisable March 31, 2021		6,434,452	$	1.39 - 3.17		9.43 years	$	1.44		–

The fair value of these options was determined to be $1,801,800 using the Black-Scholes option pricing model based on the following assumptions: