Stock Options (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2017 and the three-month period ended March 31, 2019:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2017		713,000		$	0.75 – 1.70	$	1.21
Granted		110,000		$	1.48 – 1.75	$	1.74
Cancelled or expired		(61,334	)	$	1.00 – 1.70	$	1.09
Exercised		(101,666	)	$	0.75 – 1.42	$	1.01
Balance, December 31, 2018		660,000		$	0.75 – 1.75	$	1.35
Cancelled or expired		(32,000	)	$	0.75 – 1.70	$	1.38
Exercised		(12,000	)	$	0.75 – 1.05	$	1.10
Balance, March 31, 2019		616,000		$	0.75 – 1.75	$	1.35
Exercisable, March 31, 2019		516,000		$	0.75 – 1.70	$	1.27

Schedule of Stock Option Fair Value Assumptions

The fair value of each option grant is calculated using the following weighted average assumptions:

	2018
Expected life – years		3.0
Interest rate		2.8 – 2.96	%
Volatility		47.77 – 51.85	%
Dividend yield		—	%
Weighted average fair value of options granted	$	0.4759 – 0.6313