Annual report pursuant to Section 13 and 15(d)

12. Stock Options (Tables)

v3.19.1
12. Stock Options (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock option activity
    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, 2016     1,373,554       $2.82 - $12.00       3.99 years     $ 280,642.00     $ 8.14  
Options Granted     –                                  
Options Exercised     –                                  
Options Cancelled     79,509       $2.70                           
Options Expired     –                                  
                                         
Balance at December 31, 2017     1,294,045       $2.09 - $12.00       2.99 years     $ –     $ 8.14  
Options Granted     170,176       $2.09       4.55 years     $ –     $ 2.09  
Options Exercised     –                                  
Options Cancelled     57,294       $9.00 - $12.00       3.56 years     $ –     $ 10.08  
Options Expired     147,512       $2.80 - $6.00             $ –     $ 4.30  
Balance at December 31, 2018     1,259,415       $2.09 - $12.00       2.50 years     $ –     $ 7.39  
                                         
Exercisable December 31, 2017     1,070,869       $2.70 - $9.00       2.96 years     $ –     $ 7.44  
Exercisable December 31, 2018     1,089,239       $2.70 - $9.00       2.70 years     $ –     $ 8.32  
Schedule of assumptions used

The fair value of these options was determined to be $285,760 using the Black-Scholes option pricing model based on the following assumptions:

 

Exercise Price  $2.09
Dividend Yield 0%
Volatility 61% - 62%
Risk-free interest rate 2.52% - 2.57%
Expected life of options 3.5 years