Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v3.20.2
Stock Options (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

A summary of option activity for the nine months ended September 30, 2020 is presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at December 31, 2019     4,233,722     $ 1.73       2.54     $ 995,000  
Granted     1,035,637       1.37       -       -  
Forfeited     (170,321 )     3.53       -       -  
Exercised     -       -       -       -  
Outstanding at September 30, 2020     5,099,038     $ 1.59       2.54     $ -  
                                 
Vested September 30, 2020     2,563,321     $ 1.89             $ -  
                                 
Exercisable at September 30, 2020     1,644,015     $ 2.16             $ -  
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,  
      2020       2019  
Risk-free interest rate     0.17% - 0.39 %     1.55% - 2.75 %
Average expected term     1 to 5 years       3.6 to 5 years  
Expected volatility     270.10 - 270.57 %     180 – 275.29 %
Expected dividend yield     -       -