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Stock Options (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Stock Options Activity

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


 

 

2019

 

2018

 

 

 

Options

 

Weighted

Average

Exercise

Price

 

Options

 

Weighted

Average

Exercise

Price

 

Outstanding, beginning of year

     

 

11,785,000

 

$

0.05

 

 

3,180,000

 

$

0.20

 

Granted

 

 

5,000

 

 

0.03

 

 

10,980,000

 

 

0.02

 

Exercised

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(233,333

)

 

0.02

 

 

(1,408,334

)

 

0.02

 

Expired

 

 

(404,167

)

 

0.14

 

 

(966,666

)

 

0.10

 

Outstanding, end of year

 

 

11,152,500

 

 

0.05

 

 

11,785,000

 

 

0.05

 

Exercisable, end of year

 

 

4,987,505

 

 

0.08

 

 

2,190,000

 

 

0.19

 

Options available for future grant, end of year

 

 

10,602,864

 

 

 

 

 

2,463,336

 

 

 

 

Schedule of Unvested Options Activity

Additional information concerning the unvested options is as follows:


 

 

2019

 

2018

 

 

 

Options

 

Weighted

Average

Exercise

Price

 

Options

 

Weighted

Average

Exercise

Price

 

Non-Vested options at beginning of year

     

 

9,595,000

 

$

0.02

 

 

270,840

 

$

0.15

 

Granted

 

 

5,000

 

 

0.03

 

 

10,980,000

 

 

0.02

 

Vested

 

 

(3,201,672

)

 

0.02

 

 

(247,506

)

 

0.16

 

Forfeited

 

 

(233,333

)

 

0.02

 

 

(1,408,334

)

 

0.10

 

Cancelled

 

 

 

 

 

 

 

 

 

Non-Vested options end of year

 

 

6,164,995

 

$

0.02

 

 

9,595,000

 

$

0.02

 

Summary of Options Outstanding by Price Range

Summarized information with respect to options outstanding under the four option plans at December 31, 2019 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

 

$0.017 -$.0446

 

11,152,500

 

7.38

 

$0.050

 

4,987,505

 

$0.085

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,

 

2019

 

2018

Risk-free interest rate

1.02% - 3.68

%

 

2.64% - 2.70

%

Expected term (life) of options (in years)

7.38

 

   

5

 

Expected dividends

 

 

 

Expected volatility

138% - 234

%

 

188% - 217

%