Quarterly report pursuant to Section 13 or 15(d)

STOCK WARRANTS, OPTIONS AND GRANTS (Tables)

v3.8.0.1
STOCK WARRANTS, OPTIONS AND GRANTS (Tables)
 3 Months Ended
Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Options Pricing

 

 

Options issued three months ended March 31, 2018

 

 

Options issued three months ended March 31, 2017

 

Dividend yield

 

 

0%

 

 

 

0%

 

Expected volatility

 

78%

 

 

85%

 

Risk free interest rate

 

2.46% - 2.56%

 

 

1.93%

 

Expected life (years)

 

 

5.00

 

 

 

5.00

 

 
Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common stock options

 

 

Weighted-

average

exercise price

 

 

Aggregate

intrinsic

value

 

 

Weighted-average

remaining contractual

term (years)

 

Outstanding – December 31, 2017

 

 

2,811,250

 

 

 

0.54

 

 

$

1,849,517

 

 

 

3.65

 

Issued

 

 

145,000

 

 

 

1.06

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding – March 31, 2018

 

 

2,956,250

 

 

$

0.57

 

 

$

1,397,117

 

 

 

3.49

 

Exercisable – March 31, 2018

 

 

2,057,916

 

 

$

0.50

 

 

$

1,102,116

 

 

 

3.16

 

 
Summary of Unvested Stock Option Activity

A summary of unvested stock option activity is as follows:

 

 

 

Common stock

options

 

 

Weighted-average

exercise price

 

 

Aggregate

intrinsic

value

 

 

Weighted-average

remaining contractual

term (years)

 

Unvested – December 31, 2017

 

 

825,557

 

 

$

0.63

 

 

$

467,379

 

 

 

4.27

 

Granted

 

 

145,000

 

 

 

1.06

 

 

 

—

 

 

 

—

 

Vested

 

 

(72,223

)

 

 

0.52

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Unvested – March 31, 2018

 

 

898,334

 

 

$

0.71

 

 

$

295,001

 

 

 

4.13