7. STOCK OPTION PLANS (Tables)

12 Months Ended

Dec. 31, 2018

Fair value assumptions

	2018	2017
Assumptions:
Expected life	2.75 (yrs) - 3.5 (yrs)	2.75 (yrs) - 3.5 (yrs)
Expected volatility	71.97% - 88.86%	74.67% - 95.30%
Risk-free interest rate	2.08% - 2.74%	1.44% - 1.92%
Expected dividend yield	0.00%	0.00%

2009 Stock Option Plan

Plan activity

	Number of shares			Weighted average exercise price		Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2017		1,920,744		$	0.32		2.25
Granted		110,000			1.98
Exercised		(571,250	)		0.30
Outstanding as of December 31, 2017		1,459,494			0.45		1.59
Granted		899,500			2.11
Exercised		(740,641	)		0.34
Expired/Forfeited		(48,750	)		---
Outstanding as of December 31, 2018		1,569,603		$	1.41		2.13
Options exercisable at December 31, 2018		662,478		$	0.47		1.46

Directors Plan

Plan activity

	Number of shares			Weighted average exercise price		Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2017		270,000		$	0.95		2.90
Granted		90,000			2.07
Exercised		(30,000	)		0.26
Outstanding as of December 31, 2017		330,000			1.32		2.80
Granted		110,000			2.51
Exercised		(97,500	)		1.29
Outstanding as of December 31, 2018		342,500		$	1.71		2.52
Options exercisable at December 31, 2018		327,500		$	1.66		2.52