Annual report pursuant to Section 13 and 15(d)

Stock Options (Tables)

v3.20.1
Stock Options (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

A summary of option activity for the years ended December 31, 2019 and 2018 are presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at December 31, 2017     1,456,064     $ 3.90       2.09     $ -  
Granted     1,400,418       6.75       -       -  
Forfeited     (345,000 )     5.85       -       -  
Exercised     (32,508 )     -       -       -  
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  
                                 
Vested December 31, 2019     1,496,439     $ 2.13             $ 263,851  
                                 
Exercisable at December 31, 2019     888,834     $ 2.55             $ 83,252  

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,  
      2019     2018  
Risk-free interest rate     1.51%-2.75 %   2.25%-3.00 %
Average expected term (years)     5 years     5 years  
Expected volatility     180%-413.83 %   184.45%-190.22 %
Expected dividend yield     -     -