Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.10.0.1
Stock Options
6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Options

NOTE 7 – STOCK OPTIONS

 

During the six months ended June 30, 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 recorded as equity compensation during the six months ended June 30, 2018.

 

In May 2018, the Company granted options to purchase 200,000 shares of common stock to an employee at an exercise price of $0.90 per share, which expire in May 2023. As of June 30, 2018, the Company recorded approximately $36,000 of the total equity compensation on this grant of approximately $264,000 which shall be recorded over the six-month vesting period.

 

During the six months ended June 30, 2017, the Company granted options to purchase 100,000 shares of common stock to employees at exercise prices of $0.26 and $0.33, and expiring in March and April 2021. The fair value of these options on the grant date of approximately $19,000 was recorded as equity compensation over the respective vesting periods.

 

During the six months ended June 30, 2018, options to purchase 700,000 shares of common stock were exercised at exercise prices ranging from $0.08 to $0.63 per share. No options were exercised during the same period in 2017.

 

Options to purchase 300,000 shares of common stock were forfeited during the six-month period ended June 30, 2018. No options were forfeited during the same period in 2017.

 

Stock options outstanding and exercisable as of June 30, 2018 were:

 

Exercise Price     Shares Under Option     Remaining  
per Share     Outstanding     Exercisable     Life in Years  
$ 0.080       250,000       250,000       0.58  
$ 0.080       100,000       100,000       1.47  
$ 0.130       200,000       200,000       2.00  
$ 0.140       650,000       650,000       2.51  
$ 0.150       1,000,000       1,000,000       1.25  
$ 0.250       1,000,000       1,000,000       1.25  
$ 0.260       50,000       50,000       2.76  
$ 0.330       50,000       25,000       2.69  
$ 0.350       1,000,000       1,000,000       1.25  
$ 0.450       250,000       125,000       3.26  
$ 0.550       100,000       100,000       2.25  
$ 0.630       300,000       300,000       3.51  
$ 0.770       300,000       -       4.51  
$ 0.900       200,000       -       4.87  
          5,450,000       4,800,000