Annual report pursuant to Section 13 and 15(d)

Stock Options (Tables)

v3.21.1
Stock Options (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

A summary of option activity for the years ended December 31, 2020 and 2019 are presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at December 31, 2018     2,478,974     $ 5.25       2.93     $ -  
Granted     2,531,971       2.07       -       -  
Forfeited     (777,223 )     6.42       -       -  
Exercised     -       -       -       -  
Outstanding at December 31, 2019     4,233,722       1.73       2.54       995,000  
Granted     2,111,308       1.35       -       -  
Forfeited     (313,255 )     2.53       -       -  
Exercised     -       -       -       -  
Outstanding at December 31, 2020     6,031,775     $ 1.55       2.68     $ 1,932,000  
                                 
Vested December 31, 2020     2,979,724     $ 1.71             $ 945,000  
                                 
Exercisable at December 31, 2020     2,036,652     $ 2.00             $ 522,000  
Schedule of Fair Value Assumptions Using Black-Scholes Method

The fair value of the share option awards was estimated using the Black-Scholes method based on the following weighted-average assumptions:

 

      Years Ended December 31,  
      2020     2019  
Risk-free interest rate     0.17% - 0.39 %   1.51%-2.75 %
Average expected term (years)     5 years     5 years  
Expected volatility     255.23 - 270.57 %   180%-413.83 %
Expected dividend yield     -     -