Stock Options (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activities for the year ended December 31, 2019 and the three-month period ended March 31, 2020:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2018		660,000		$	0.75 – 1.75	$	1.35
Granted		347,000		$	2.44 – 4.13	$	2.99
Cancelled or expired		(56,112	)	$	0.75 – 3.46	$	1.41
Exercised		(315,888	)	$	0.75 – 1.70	$	1.15
Balance, December 31, 2019		635,000		$	0.75 – 4.13	$	2.31
Cancelled or expired		(10,000	)	$	2.44 – 3.46	$	2.85
Exercised		(25,000	)	$	0.75 – 1.05	$	0.99
Balance, March 31, 2020		600,000		$	0.75 – 4.13	$	2.36
Exercisable, March 31, 2020		337,000		$	0.75 – 4.13	$	2.52

Schedule of Stock Option Fair Value Assumptions

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

	2019
Expected life – years		3.0
Interest rate		1.69 – 1.93	%
Volatility		43.89 – 57.24	%
Weighted average fair value of options granted	$	0.7892 – 1.6399