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Stock Options (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Options Activity

Additional information concerning the activity in the three option plans is as follows:


 

 

2017

 

2016

 

 

 

Options

 

Weighted

Average

Exercise

Price

 

Options

 

Weighted

Average

Exercise

Price

 

Outstanding, beginning of year

     

 

3,365,500

 

$

0.20

 

 

3,858,000

 

$

0.22

 

Granted

 

 

5,000

 

 

0.03

 

 

30,000

 

 

0.05

 

Exercised

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(36,667

)

 

(0.14

 

 

 

 

 

Expired

 

 

(153,833

)

 

(0.22

)

 

(522,500

)

 

(0.30

)

Outstanding, end of year

 

 

3,180,000

 

$

0.20

 

 

3,365,500

 

$

0.20

 

Exercisable, end of year

 

 

2,909,160

 

$

0.20

 

 

2,804,660

 

$

0.20

 

Options available for future grant, end of year

 

 

1,245,500

 

 

 

 

 

1,303,336

 

 

 

 

Schedule of Unvested Options Activity

Additional information concerning the unvested options is as follows:

 

 

2017

 

2016

 

 

 

Options

 

Weighted

Average

Exercise

Price

 

Options

 

Weighted

Average

Exercise

Price

 

Non-Vested options at beginning of year

     

 

560,840

 

$

0.17

    

 

1,006,667

 

$

0.17

 

Granted

 

 

5,000

 

 

0.03

 

 

30,000

 

 

0.05

 

Vested

 

 

(258,333

)

 

(0.16

)

 

(445,827

)

 

(0.17

)

Forfeited

 

 

(36,667

)

 

(0.14

)

 

 

 

 

 

 

Cancelled

 

 

 

 

 

 

(30,000

)

 

(0.17

)

Non-Vested options end of year

 

 

270,840

 

$

0.15

 

 

560,840

 

$

0.16

Summary of Options Outstanding by Price Range

Summarized information with respect to options outstanding under the three option plans at December 31, 2017 is as follows:

 

 

Options Outstanding

 

Options Exercisable

 

Range of

Exercise Price

 

Number

Outstanding

 

Remaining

Average

Contractual

Life (In Years)

 

Weighted

Average

Exercise Price

 

Number

Exercisable

 

Weighted

Average

Exercise Price

 

$0.026 - $0.35

 

3,180,000

 

3.63

 

$0.20

 

2,909,160

 

$0.20

Schedule of Fair Value Assumptions

The estimated fair value of each stock option grant on the date of grant was computed using the following weighted-average assumptions:


 

December 31,

 

2017

 

2016

Risk-free interest rate

1.54

%

 

0.79%-1.45

%

Expected term (life) of options (in years)

5

 

 

4-10

 

Expected dividends

 

 

 

Expected volatility

210

%

 

172%-206.

%