Annual report pursuant to Section 13 and 15(d)

STOCK OPTIONS (Tables)

v3.20.1
STOCK OPTIONS (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Options Pricing

 

 

Options issued 2019

 

 

Options issued 2018

 

Dividend yield

 

0%

 

 

0%

 

Expected volatility

 

70.88% - 72.11%

 

 

73.23% - 78.08%

 

Risk free interest rate

 

1.37% - 2.51%

 

 

2.46% - 3.00%

 

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, 2018

 

 

3,496,250

 

 

$

0.66

 

 

$

2,608,329

 

 

 

3.04

 

Issued

 

 

520,000

 

 

$

1.84

 

 

 

—

 

 

 

—

 

Exercised

 

 

(737,916

)

 

$

0.37

 

 

 

—

 

 

 

—

 

Forfeited

 

 

(103,334

)

 

$

0.94

 

 

 

—

 

 

 

—

 

Outstanding – December 31, 2019

 

 

3,175,000

 

 

$

0.92

 

 

$

2,692,025

 

 

 

2.79

 

Exercisable – December 31, 2019

 

 

2,121,667

 

 

$

0.66

 

 

$

2,334,292

 

 

 

2.22

 
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, 2018

 

 

1,161,666

 

 

$

0.95

 

 

$

535,475

 

 

 

4.15

 

Granted

 

 

520,000

 

 

$

1.84

 

 

 

—

 

 

 

—

 

Vested

 

 

(531,667

)

 

$

0.88

 

 

 

—

 

 

 

—

 

Forfeited

 

 

(96,666

)

 

$

0.93

 

 

 

—

 

 

 

—

 

Unvested – December 31, 2019

 

 

1,053,333

 

 

$

1.43

 

 

$

357,734

 

 

 

3.92