Stock Options (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activities for the years ended December 31, 2019 and 2018:

	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
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
Exercisable, December 31, 2019		372,000			$0.75 – 4.13	$	2.39

Schedule of Stock Option Fair Value Assumptions

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

	2019			2018
Expected life – years		3.0			3.0
Interest rate		1.69 – 1.93	%		2.8 – 2.96	%
Volatility		43.89 – 57.24	%		47.77 – 51.85	%
Weighted average fair value of options granted	$	0.7892 – 1.6399		$	0.4759 – 0.6313