STOCK OPTIONS

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

NOTE 7 – STOCK OPTIONS

The Company’s Board of Directors approved the Company’s 2008 Stock Option Plan (the “Stock Plan”) for the issuance of up to 5,000,000 shares of common stock to be granted through incentive stock options, nonqualified stock options, stock appreciation rights, dividend equivalent rights, restricted stock, restricted stock units and other stock-based awards to officers, other employees, directors and consultants of the Company and its subsidiaries. After the reverse stock split in August 2012, a total of 100,000 shares were available for grant. Subsequent to the reverse split the Board of Directors approved an increase in the number of awards available for grant to 2,100,000 shares. The exercise price of stock options under the Stock Plan is determined by the Board of Directors, and may be equal to or greater than the fair market value of the Company’s common stock on the date the option is granted. Options become exercisable over various periods from the date of grant, and generally expire ten years after the grant date.

At March 31, 2019, there were 57,704 plan options outstanding, under the Stock Option Plan.

The vesting provisions for these stock options are determined by the board of directors at the time of grant, there are no unvested options outstanding as of March 31, 2019.

In the event of the employees’ termination, the Company will cease to recognize compensation expense.

A summary of all of our option activity during the period ended March 31, 2019 is as follows:

	No. of shares		Exercise price per share		Weighted average exercise price
From August 22, 2018		-	$	-	$	-
Granted - non-plan options		-		-		-
Forfeited/cancelled		-		-		-
Exercised		-		-		-
Effects of recapitalization from reverse acquisition		57,704	$	0.65 to $13.50		3.02
Outstanding December 31, 2018		57,704	$	0.65 to $13.50	$	3.02
Granted - non-plan options		-		-		-
Forfeited/cancelled		-		-		-
Exercised		-		-		-
Outstanding March 31, 2019		57,704	$	0.65 to $13.50	$	3.02

The options outstanding and exercisable at March 31, 2019 are as follows:

		Options outstanding						Options exercisable
Exercise price		No. of shares		Weighted average remaining years		Weighted average exercise price		No. of shares		Weighted average exercise price
$	13.50		3,480		0.21				3,480
$	12.50		2,000		1.53				2,000
$	8.50		500		2.25				500
$	5.00		14,800		2.54				14,800
$	0.65		36,924		4.00				36,924
			57,704		3.29		3.02		57,704	$	3.02