General form of registration statement for all companies including face-amount certificate companies

Stockholders' (Deficit) (Tables)

v3.21.1
Stockholders' (Deficit) (Tables)
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
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
  Weighted
Average
Contractual
Life
Options Outstanding at January 1, 2019     5,765,519     $ 0.02 – 0.65     $ 0.26   6.8
Options Granted     2,852,537       0.05       0.05    
Exercised     (100,000 )     0.05       0.05    
Expired/Cancelled     (92,232 )     0.05       0.05    
Options Outstanding at December 31, 2019     8,425,824     $ 0.05 – 0.65     $ 0.17   7.5
Options Granted     350,000       0.12 – 0.13       0.13    
Exercised     (100,000 )     0.05       0.05    
Expire/Cancelled     (369,838 )     0.35 – 0.36       0.36    
Options Outstanding at December 31, 2020     8,305,986     $ 0.05 – 0.39     $ 0.13   6.6
                           
Options Exercisable at December 31, 2020     5,227,220     $ 0.05 – 0.39     $ 0.17   5.5
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 year ended December 31, 2020 and 2019 are set forth in the table below.

 

    2020   2019
Weighted average fair value of options granted   $ 0.13     $ 0.05  
Risk-free interest rate     0.66-0.83 %     1.79 %
Volatility     221 – 223 %     225 %
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
    Weighted
Average
Contractual
Life
 
Warrants Outstanding at January 1, 2019     133,334     $ 0.01     $ 0.01       5.5  
Warrants Granted                          
Warrants Outstanding at December 31, 2019     133,334     $ 0.01     $ 0.01       4.5  
Warrants Granted                          
Warrants Outstanding at December 31, 2020     133,334     $ 0.01     $ 0.01       3.5  
Warrants Exercisable at December 31, 2020     133,334     $ 0.01     $ 0.01       3.5