Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.8.0.1
Stock Options
 3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Options

NOTE 6 – 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 shall be recorded as non-cash compensation expense over the vesting periods, with approximately $366,000 incurred during the three months ended March 31, 2018.

 

In February 2018, the former CFO of the Company exercised options to purchase 300,000 shares of common stock at an exercise price of $0.13. No options were exercised during the same period in 2017

 

Stock options outstanding and exercisable as of March 31, 2018 were:

 

Exercise Price     Shares Under Option     Remaining  
per Share     Outstanding     Exercisable     Life in Years  
$ 0.080       250,000       250,000       0.83  
$ 0.080       200,000       200,000       1.72  
$ 0.130       300,000       300,000       2.25  
$ 0.140       750,000       750,000       2.76  
$ 0.150       1,000,000       1,000,000       1.50  
$ 0.250       1,000,000       1,000,000       1.50  
$ 0.260       50,000       50,000       3.01  
$ 0.330       50,000       25,000       2.94  
$ 0.350       1,000,000       1,000,000       1.50  
$ 0.450       250,000       -       3.51  
$ 0.550       100,000       -       2.50  
$ 0.630       400,000       400,000       3.76  
$ 0.770       300,000       -       4.76  
          5,650,000       4,975,000