NOTE 7 - STOCK OPTIONS AND WARRANTS (Tables)

6 Months Ended

Jun. 30, 2019

Table Text Block Supplement [Abstract]

Schedule of Assumptions Used to Estimate the Fair Values of Stock Options Granted

The following table presents the assumptions used to estimate the fair values of the stock options granted:

	June 30, 2019	June 30, 2018
Expected volatility	142%	150%
Expected dividends	0%	0%
Expected term	7 Years	7 Years
Risk-free interest rate	2.01%	2.46%

Schedule of Stock Options and Warrants, Activity

A summary of the status of the options and warrants granted at June 30, 2019 and December 31, 2018 and changes during the periods then ended is presented below:

	June 30,			December 31,
	2019			2018
			Weighted-Average			Weighted-Average
	Shares		Exercise Price	Shares		Exercise Price
Outstanding at beginning of year	2,965,556	$	0.63	2,600,556	$	0.82
Granted	450,000		0.08	590,000		0.07
Exercised	-		-	-		-
Expired or cancelled	-		-	(225,000)		1.33
Outstanding at end of period	3,415,556		0.56	2,965,556		0.63
Exercisable	2,978,890	$	0.59	2,556,390	$	0.67

Summary of the Status of the Options and Warrants Outstanding

A summary of the status of the options and warrants outstanding at June 30, 2019 is presented below:

Range of Exercise Prices	Number Outstanding	Weighted-Average Remaining Contractual Life	Number Exercisable	Weighted-Average Exercise Price
$ 0.01-0.99	2,890,556	4.68 years	2,453,890	0.22
$ 1.00-1.99	75,000	0.68 years	75,000	1.37
$ 2.00-2.99	450,000	0.31 years	450,000	2.53
$ 0.01-2.99	3,415,556	4.02 years	2,978,890	$ 0.59