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Stock Options (Tables)
 12 Months Ended
Dec. 31, 2019
Stock Options Tables  
Summary of stock option activity

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

 

   Number of
Options		  Weighted
Average Exercise
Price ($)		  Weighted Average
Remaining
Contractual Term
(in years)		  Aggregate
Intrinsic
Value ($)
Outstanding at December 31, 2018   317,500    3.41           
Grants   2,000,000                
Forfeited   –                
Exercises   –    –           
Outstanding at December 31, 2019   2,317,500         5.68   $1,460,507 
Exercisable at December 31, 2019   317,500         4.42   $164,975 
Available for grant at December 31, 2019   17,440,765                
Summary of assumption of stock option activity

The assumptions for volatility, expected life, dividend yield and risk-free interest rate for options granted are presented in the table below:

 

   Years Ended December 31,
   2019  2018
Risk-free interest rate   1.65%   2.97%
Expected life in years   3.33    5.5 
Weighted Avg. Expected Volatility   102%   108%
Expected dividend yield   0    0 
Summary of consolidated statement of operations

Stock-based compensation has been included in the consolidated statement of operations as follows:

 

   Years Ended December 31,
   2019  2018
Research and development  $–   $27,967 
General and administrative   191,255    142,550 
Total  $191,255   $170,517 
Summary of stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable at December 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    4.25    1.05    55,000    4.25    1.05 
1.25   7,500    5.46    1.25    7,500    5.46    1.25 
1.34   7,500    5.50    1.34    7,500    5.50    1.34 
1.70   7,500    5.79    1.70    7,500    5.79    1.70 
1.98   667,800    5.88    1.98    –    5.88    – 
2.28   7,500    5.55    2.28    7,500    6.55    2.28 
2.48   667,800    5.88    2.48    –    5.88    – 
3.23   664,400    5.88    3.23    –    5.88    – 
4.20   232,500    5.36    4.20    232,500    6.36    4.20 
Total   2,317,500    5.68   $2.54    317,500    4.42   $3.41