Stock Options

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Options

Note 4. Stock Options

The following table summarizes stock option activity for the period ended March 31, 2019:

	Number of Options		Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value ($)
Outstanding at December 31, 2018		317,500		3.41
Outstanding at March 31, 2019		317,500		3.41		7.44 years		29,225
Exercisable at March 31, 2019		307,500		3.49		7.52 years		24,525
Available for grant at March 31, 2019		19,440,765

There were no options granted during the three months ended March 31, 2019.

The share-based compensation cost resulting from stock option grants, including those previously granted and vesting over time is expensed ratably over the respective vesting periods. During the three months ended March 31, 2019 and 2018, the Company recognized $832 and $122,497, respectively, in stock-based compensation. As of March 31, 2019, the Company had no unrecognized compensation cost related to unvested stock options. Stock-based compensation has been included in the unaudited consolidated statement of operations as follows:

	Three Months Ended March 31,
	2019		2018
Research and development	$	-	$	20,875
General and administrative		832		101,622
Total	$	832	$	122,497

The following table summarizes information about stock options outstanding and exercisable at March 31, 2019:

	Stock Options Outstanding						Stock Options Exercisable
Range of Exercise Prices	Number of Shares Subject to Outstanding Options		Weighted Average Contractual Life (Years)		Weighted Average Exercise Price		Number of Shares Subject To Options Exercise		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price
1.05		55,000		5.01		1.05		45,000		5.01		1.05
1.25		7,500		6.22		1.25		7,500		6.22		1.25
1.34		7,500		6.26		1.34		7,500		6.26		1.34
1.70		7,500		6.55		1.70		7,500		6.55		1.70
2.28		7,500		7.31		2.28		7,500		7.31		2.28
4.20		232,500		8.12		4.20		232,500		8.12		4.20
Total		317,500		7.44		$3.41		307,500		7.52		$3.49