Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS

v3.22.1
STOCK OPTIONS
 3 Months Ended
Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]  
STOCK OPTIONS

NOTE 15 – STOCK OPTIONS

 

During the three months ended March 31, 2021, the Company granted five-year options to purchase up to 1,262,000 shares of common stock at exercise prices ranging from $0.51 to $0.90 per share. The fair value of these options of approximately $541,000 in the aggregate is being amortized to compensation expense over their vesting periods, of which approximately $170,000 was amortized during the three months ended March 31, 2021. No stock options were granted during the three months ended March 31, 2022.

 

Compensation expense in the first quarter of 2022 and 2021 for options issued in previous periods, and continuing to be amortized over their respective vesting periods, approximated $2,469,000 and $124,000, respectively.

 

During the three months ended March 31, 2022, options to purchase 10,000 shares of common stock were exercised at an exercise price of $0.30. No stock options were exercised during the three months ended March 31, 2021.

 

During the three months ended March 31, 2021, options to purchase 50,000 shares of common stock expired. No stock options expired during the three months ended March 31, 2022.

 

Stock options outstanding and exercisable as of March 31, 2022 were:

 

Exercise Price     Shares Under Option     Remaining Life  
per Share     Outstanding     Exercisable     in Years  
  $0.140       80,000       80,000       3.28  
  $0.149       500,000       500,000       3.76  
  $0.169       200,000       200,000       3.62  
  $0.225       2,000,000       1,625,000       3.61  
  $0.250       50,000       50,000       2.92  
  $0.250       20,000       20,000       3.17  
  $0.250       50,000       25,000       3.57  
  $0.250       800,000       800,000       3.62  
  $0.250       80,000       80,000       3.65  
  $0.300       388,000       388,000       3.00  
  $0.417       900,000       900,000       2.74  
  $0.505       100,000       100,000       3.76  
  $0.505       800,000       400,000       3.78  
  $0.590       15,000       15,000       2.69  
  $0.690       15,000       -       4.68  
  $0.693       500,000       -       4.69  
  $0.700       650,000       50,000       4.67  
  $0.740       520,000       425,625       4.08  
  $0.755       1,050,000       550,000       4.73  
  $0.770       200,000       200,000       0.75  
  $0.800       25,000       -       4.64  
  $0.830       287,000       287,000       3.98  
  $0.830       600,000       150,000       4.16  
  $0.840       878,921       878,921       4.29  
  $0.840       99,000       59,400       4.34  
  $0.850       90,000       49,375       4.21  
  $0.850       72,500       14,375       4.63  
  $0.870       250,000       -       4.76  
  $0.880       11,550,000       5,925,000       4.28  
  $0.880       15,000       7,500       4.37  
  $0.880       410,000       102,500       4.59  
  $0.890       10,000       5,000       3.81  
  $0.892       40,000       30,000       3.81  
  $0.895       25,000       25,000       3.82  
  $0.898       11,250,000       5,625,000       4.50  
  $0.900       50,000       50,000       1.11  
  $0.910       50,000       50,000       0.56  
  $0.920       300,000       37,500       4.27  
  $0.928       500,000       200,000       4.36  
  $0.950       50,000       50,000       0.75  
  $0.970       100,000       100,000       4.21  
  $0.983       145,000       61,250       4.24  
  $0.990       500,000       125,000       4.47  
  $0.992       300,000       300,000       2.49  
  $1.000       15,000       15,000       2.21  
  $1.000       125,000       125,000       2.59  
  $1.350       100,000       100,000       1.33  
  $1.950       375,000       375,000       1.25  
  $2.320       100,000       100,000       1.45  
  $2.450       2,000,000       2,000,000       0.73  
  $2.500       100,000       100,000       1.41  
  $2.650       200,000       200,000       1.48  
  $2.850       56,250       56,250       0.70  
  $2.850       100,000       100,000       1.70  
  $3.000       25,000       25,000       1.71  
  $3.725       100,000       100,000       1.69  
          39,811,671       23,837,696