SHARE CAPITAL

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

SHARE CAPITAL [Text Block]

5. SHARE CAPITAL

During the three months period ended March 31, 2020, 200,000 options expired. The Company granted 200,000 incentive stock options to one of its contractors to purchase an aggregate of 200,000 shares of the Company's common stock at $0.10 per share. These stock options vest as to one-fourth immediately and one-fourth after the first, second and third six months of the date of grant. The fair value of the options granted calculated to be $11,673. The Company recognized a total of $2,918 as share-based compensation related to stock options vested during three month period ended March 31, 2020. The fair value determined using the Black-Sholes Option Pricing model with the following assumptions:

Assumptions:
Risk-free rate (%)	1.34
Expected stock price volatility (%)	208
Expected dividend yield (%)	0
Expected life of options (years)	2

As at March 31, 2020, the Company had 1,900,000 options outstanding with a weighted average exercise price and weighted average life of $.10 and .77 years, respectively. 1,750,000 options were exercisable with a weighted average price and weighted average life of $.10 and .68 years, respectively.