XML 23 R8.htm IDEA: XBRL DOCUMENT

Stock Options

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

NOTE 3 – STOCK OPTIONS

The following table summarizes all stock option activity for the six months ended June 30, 2020:

	Shares		Weighted- Average Exercise Price Per Share
Outstanding, December 31, 2019		212,044	$	12.79
Granted		198,000		5.74
Forfeited		72,044		32.45
Outstanding, June 30, 2020		338,000	$	4.47

The following table discloses information regarding outstanding and exercisable options at June 30, 2020:

		Outstanding						Exercisable
Exercise Prices		Number of Option Shares		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)		Number of Option Shares		Weighted Average Exercise Price
$	5.74		198,000	$	5.74		2.74		198,000	$	5.74
	3.00		90,000		3.00		1.20		60,000		3.00
	2.09		50,000		2.09		1.74		50,000		2.09
			338,000	$	9.38		2.18		338,000	$	4.61

On March 30, 2020, the Company issued 198,000 options to its Chief Executive Officer and President of the Company. The options carry an exercise price of $5.74 per share. All the options were vested immediately. The Options are exercisable until March 30, 2022. The Company has estimated the fair value of such options at a value of $456 at the date of issuance using the Black-Scholes option pricing model using the following assumptions:

Common stock price	2.54
Dividend yield	0	%
Risk-free interest rate	1.89	%
Expected term (years)	3
Expected volatility	328	%