Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Employee Benefit Plan (Tables)

v3.20.1
Stock-Based Compensation and Employee Benefit Plan (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Weighted Average Estimated Fair Value of Stock Option Grants

The weighted average estimated fair value of stock option grants and the weighted average assumptions that were used in calculating such values for the years ended December 31, 2019 and 2018 are as follows:

 

    Years Ended  
    December 31,  
    2019     2018  
             
Expected volatility     98.97% -121.17 %     -  
Expected dividend yield     -       -  
Risk-free interest rates     1.39% - 1.71 %     -  
Expected term (in years)     3.0 - 4.5       -  

Schedule of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2019 and 2018 is presented as follows:

 

    Weighted
Average
Exercise
Price
    Number of
Optioned
Shares
    Weighted
Average
Remaining
Contractual
Term in Years
    Weighted
Average
Optioned
Grant Date
Fair Value
    Aggregate
Intrinsic
Value
 
                               
Balance as of December 31, 2017   $ 0.85       2,135,000       8.30     $ 0.17     $           -  
Granted     -       -               -          
Exercised     -       -               -          
Cancelled/expired     0.92       (1,385,000 )             -          
                                         
Balance as of December 31, 2018   $ 0.72       750,000       1.20     $ 0.24     $ -  
                                         
Granted     0.70       1,500,000               0.03          
Exercised     -       -               -          
Cancelled/expired     0.73       (675,000 )             0.25          
                                         
Balance as of December 31, 2019   $ 0.69       1,575,000       3.82     $ 0.04     $ -  
                                         
Vested and exercisable as of December 31, 2019   $ 0.69       825,000       3.05     $ 0.05     $ -