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Stock Options
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Stock Options

Note 4. Stock Options

 

The following table summarizes stock option activity for the period ended June 30, 2019:

 

   Number of
Options		  Weighted
Average
Exercise
Price ($)		  Weighted
Average
Remaining
Contractual
Term (years)		  Aggregate
Intrinsic
Value ($)
Outstanding at December 31, 2018   317,500    3.41           
Outstanding at June 30, 2019   317,500    3.41    7.18    16,625 
Exercisable at June 30, 2019   317,500    3.41    7.18    16,625 

 

There were no options granted during the six months ended June 30, 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 June 30, 2019 and 2018, the Company recognized $0 and $47,649, respectively, in share-based compensation related to stock options. During the six months ended June 30, 2018 and 2017, the Company recognized $832 and $170,146, respectively, in share-based compensation related to stock options. As of June 30, 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 June 30,  Six Months Ended June 30,
   2019  2018  2019  2018
Research and development  $–   $7,091   $–   $27,966 
General and administrative   –    40,558    832    142,180 
Total  $–   $47,649   $832   $170,146 

 

The following table summarizes information about stock options outstanding and exercisable at June 30, 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    4.76    1.05    55,000    4.76    1.05 
1.25   7,500    5.96    1.25    7,500    5.96    1.25 
1.34   7,500    6.01    1.34    7,500    6.01    1.34 
1.70   7,500    6.30    1.70    7,500    6.30    1.70 
2.28   7,500    7.06    2.28    7,500    7.06    2.28 
4.20   232,500    7.87    4.20    232,500    7.87    4.20 
Total   317,500    7.18   $3.41    317,500    7.18   $3.41