Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.19.1
Stock Options
 3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Stock Options

NOTE 14 – STOCK OPTIONS

 

During the three months ended March 31, 2018, the Company granted options to purchase 1.45 million shares of common stock to the Company’s board members at exercise prices ranging from $0.14 to $0.77, vesting over a six-month period, and expiring between December 2020 and December 2022. The fair value of these options on grant date of approximately $458,000 was amortized over the vesting periods, with approximately $366,000 incurred during the three months ended March 31, 2018. No stock options were granted in 2019.

 

During the three months ended March 31, 2019 and 31, options to purchase 400,000 and 300,000 shares of common stock, respectively, were exercised at exercise prices ranging from $0.08 to $0.77 per share in 2019, and $0.13 per share in 2018. Of the options exercised in 2019, 350,000 were cashless exercises, with the exercise price paid via the surrender of 139,985 shares of common stock.

 

During the three months ended March 31, 2018, options to purchase 300,000 were forfeited. There were no forfeitures in 2019

 

Stock options outstanding and exercisable as of March 31, 2019 were:

 

Exercise Price     Shares Under Option     Remaining  
per Share     Outstanding     Exercisable     Life in Years  
$ 0.080       100,000       100,000       0.72  
$ 0.130       200,000       200,000       1.25  
$ 0.140       100,000       100,000       1.75  
$ 0.140       550,000       550,000       1.76  
$ 0.150       1,000,000       1,000,000       0.50  
$ 0.250       1,000,000       1,000,000       0.50  
$ 0.330       50,000       50,000       1.94  
$ 0.350       1,000,000       1,000,000       0.50  
$ 0.450       190,000       190,000       2.51  
$ 0.550       100,000       100,000       1.50  
$ 0.550       20,000       20,000       1.77  
$ 0.630       300,000       300,000       2.76  
$ 0.770       200,000       200,000       3.76  
$ 0.900       050,000       50,000       4.12  
$ 0.950       50,000       10,000       3.76  
$ 2.320       300,000       60,000       4.45  
$ 2.450       2,000,000       2,000,000       3.73  
$ 2.500       100,000       25,000       4.41  
$ 2.650       200,000       50,000       4.49  
$ 2.850       75,000       -       3.70  
$ 2.850       100,000       -       4.70  
$ 3.000       25,000       -       4.72  
$ 3.725       200,000       -       4.70  
          7,9100,000       7,005,000