Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Employee Benefit Plan (Tables)

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	$	-