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, 2020

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, 2020 and 2019 are as follows:

	Year Ended
	December 31,
	2020			2019

Expected volatility		133.92% - 133.97	%		98.97% - 121.17	%
Expected dividend yield		-			-
Risk-free interest rates		0.29% - 0.30	%		1.39% - 1.71	%
Expected term (in years)		3.0			3.0 - 4.5

Schedule of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2020 and 2019 is presented as follows:

						Weighted
						Average		Weighted
	Weighted					Remaining		Average
	Average		Number of			Contractual		Optioned		Aggregate
	Exercise		Optioned			Term in		Grant Date		Intrinsic
	Price		Shares			Years		Fair Value		Value

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	$	-

Granted		0.10		90,000					0.06
Exercised		-		-					-
Cancelled/expired		0.54		(25,000	)				0.19

Balance as of December 31, 2020	$	0.66		1,640,000			2.83	$	0.04	$	-

Vested and exercisable as of December 31, 2020	$	0.65		1,265,000			2.58	$	0.04	$	-