| Schedule of option activity and related information |
A summary of the Company’s option activity
and related information follows:
| |
|
Number of
Shares
Under Options |
|
|
Range of
Option Price
Per Share |
|
|
Weighted
Average
Exercise Price |
|
| Options Outstanding at December 31, 2019 |
|
|
8,425,824 |
|
|
$ |
0.05 – 0.65 |
|
|
$ |
0.17 |
|
| Options Granted |
|
|
350,000 |
|
|
|
0.13 |
|
|
|
0.13 |
|
| Exercised |
|
|
(100,000 |
) |
|
|
0.05 |
|
|
|
0.05 |
|
| Expire/Cancelled |
|
|
(250,000 |
) |
|
|
0.36 |
|
|
|
0.36 |
|
| Options Outstanding at September 30, 2020 |
|
|
8,425,824 |
|
|
$ |
0.05 – 0.65 |
|
|
$ |
0.13 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Options Exercisable at September 30, 2020 |
|
|
4,869,403 |
|
|
$ |
0.05 – 0.65 |
|
|
$ |
0.19 |
|
|
A summary of the Company’s option activity
and related information follows:
| |
|
Number
of
Shares
Under Options |
|
|
Range
of
Option Price
Per Share |
|
|
Weighted
Average
Exercise Price |
|
| Options Outstanding at January
1, 2018 |
|
|
5,052,148 |
|
|
$ |
0.02 -
0.85 |
|
|
$ |
0.28 |
|
| Options
Granted |
|
|
1,022,004 |
|
|
|
0.35
- 0.65 |
|
|
|
0.37 |
|
| Expired/Cancelled |
|
|
(308,633 |
) |
|
|
0.02
– 0.14 |
|
|
|
0.27 |
|
| Options Outstanding
at December 31, 2018 |
|
|
5,765,519 |
|
|
$ |
0.02
- 0.65 |
|
|
$ |
0.26 |
|
| Options Granted |
|
|
2,852,537 |
|
|
|
0.05 |
|
|
|
0.05 |
|
| Exercised |
|
|
(100,000 |
) |
|
|
0.05 |
|
|
|
0.05 |
|
| Expire/Cancelled |
|
|
(92,232 |
) |
|
|
0.05 |
|
|
|
0.05 |
|
| Options Outstanding
at December 31, 2019 |
|
|
8,425,824 |
|
|
$ |
0.05
– 0.65 |
|
|
$ |
0.17 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Options Exercisable
at December 31, 2019 |
|
|
4,599,199 |
|
|
$ |
0.05
– 0.65 |
|
|
$ |
0.21 |
|
|
| Schedule of fair value of options by using Black-Scholes model |
The weighted average fair value of options
granted, and the assumptions used in the Black-Scholes model during the nine months ended September 30, 2020 are set forth in the
table below.
| |
|
2020 |
| Weighted average fair value of options granted |
|
$0.13 |
| Risk-free interest rate |
|
0.66% - 0.83% |
| Volatility |
|
221% - 223% |
| Expected life (years) |
|
10 |
| Dividend yield |
|
0.00% |
|
The weighted average fair value of options
granted, and the assumptions used in the Black-Scholes model during the year ended December 31, 2019 are set forth in the table
below.
| |
|
2019 |
|
2018 |
| Weighted average fair value of options granted |
|
$ |
0.05 |
|
|
$ |
0.05 |
|
| Risk-free interest rate |
|
|
1.79 |
% |
|
|
2.86 |
% |
| Volatility |
|
|
225 |
% |
|
|
85 |
% |
| Expected life (years) |
|
|
10 |
|
|
|
10 |
|
| Dividend yield |
|
|
0.00 |
% |
|
|
0.00 |
% |
|
| Schedule of warrant activity and related information |
|
A summary of the Company’s warrant activity
and related information follows:
| |
|
Number of
Shares Under
Warrants |
|
Range of
Warrants
Price
Per Share |
|
Weighted
Average
Exercise Price |
| Warrants Outstanding at January 1, 2018 |
|
|
133,334 |
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
| Warrants Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Warrants Outstanding at December 31, 2018 |
|
|
133,334 |
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
| Warrants Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Warrants Outstanding at December 31, 2019 |
|
|
133,334 |
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
| Warrants Exercisable at December 31, 2019 |
|
|
133,334 |
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
|