Quarterly report pursuant to Section 13 or 15(d)

Equity Transactions (Tables)

v3.19.3
Equity Transactions (Tables)
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Schedule of Stock Option Activity

A summary of option activity for the nine months ended September 30, 2019 is 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     $ 2,660,000  
Granted     735,667       3.97       -       -  
Forfeited     (300,000 )     5.05       -       -  
Exercised     -       -       -       -  
Outstanding at September 30, 2019     2,914,641     $ 5.05       2.51     $ -  
                                 
Vested September 30, 2019     1,710,067     $ 4.46             $ -  
                                 
Exercisable at September 30, 2019     1,147,863     $ 5.20             $ -  

Schedule of Fair Value Assumptions Using Black-Scholes Method

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

 

    Nine Months Ended September 30,  
    2019     2018  
Risk-free interest rate     1.55 - 2.75 %     2.25 – 3.00 %
Average expected term (years)     1 to 5 years       5 years  
Expected volatility     180.0 - 275.3 %     184.5 – 190.2 %
Expected dividend yield     -       -  

Schedule of Warrants Outstanding

The Company has the following warrants outstanding as of September 30, 2019, all of which are exercisable:

 

    Warrants    

Weighted-
Average
Exercise

Price

   

Weighted-
Average

Remaining

Contractual

Life (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at December 31, 2018     940,412     $ 3.60       2.32     $ 1,974,000  
Granted     10,386,181       2.97       -       -  
Forfeited     (6,667 )     6.00       -       -  
Exercised     (186,969 )     1.15       -       -  
Outstanding at September 30, 2019, all vested     11,132,960     $ 3.06       4.48     $ -