7. STOCK OPTION PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Fair value assumptions

		2019	2018
Assumptions:
Expected life	2.75 (yrs) - 3.5 (yrs)	2.75 (yrs) - 3.5 (yrs)
Expected volatility	77.74% - 87.40%	71.97% - 88.86%
Risk-free interest rate	1.34% - 2.69%	2.08% - 2.74%
Expected dividend yield	0.00%	0.00%

2019 Stock Option Plan

Plan activity

	Number of shares		Weighted average exercise price		Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2019		—	$	—		—
Granted		820,000		0.83
Exercised		—		—
Outstanding as of December 31, 2019		820,000	$	0.83		2.68
Options exercisable at December 31, 2019		—		—		—

2019 Stock Option Plan | Directors Plan

Plan activity

	Number of shares		Weighted average exercise price		Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2019		—	$	—		—
Granted		45,000		0.97
Exercised		—		—
Outstanding as of December 31, 2019		45,000	$	0.97		2.50
Options exercisable at December 31, 2019		45,000	$	0.97		2.50

2009 Stock Option Plan

Plan activity

	Number of shares			Weighted average exercise price		Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2018		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
Granted		90,000			0.95
Exercised		(199,792	)		0.24
Expired/Forfeited		(150,000	)		—
Outstanding as of December 31, 2019		1,309,811		$	1.45		1.28
Options exercisable at December 31, 2019		859,936		$	1.22		1.04

2009 Stock Option Plan | Directors Plan

Plan activity

	Number of shares			Weighted average exercise price		Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2018		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
Granted		97,500			1.09
Exercised		(60,000	)		0.23
Forfeited		(80,000	)
Outstanding as of December 31, 2019		300,000		$	1.63		2.00
Options exercisable at December 31, 2019		300,000		$	1.63		2.00