EQUITY (Tables)

3 Months Ended

Mar. 31, 2021

Stockholders' Equity Note [Abstract]

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

The following table summarizes the options outstanding at March 31, 2021 and the related prices for the options to purchase shares of the Company’s common stock issued by the Company:

						Weighted				Weighted
				Weighted		average				average
				average		exercise				exercise
Range of		Number of		Remaining		price of		Number of		price of
exercise		options		contractual		outstanding		options		exercisable
Prices		Outstanding		life (years)		Options		Exercisable		Options
$	0.60		50,000		4.75	$	0.60		6,250	$	0.60
$	0.62		360,000		2.75	$	0.62		270,000	$	0.62
$	0.85		540,000		2.75	$	0.85		405,000	$	0.85
$	1.00		50,000		4.75	$	1.00		6,250	$	1.00
$	1.10		75,000		0.12	$	1.10		75,000	$	1.10
$	1.20		1,050,000		2.60	$	1.20		825,000	$	1.20
$	1.50		125,000		0.75	$	1.50		125,000	$	1.50
			2,250,000		2.57	$	1.02		1,712,500	$	1.04

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Transactions involving stock options are summarized as follows:

	Number of Shares		Weighted Average Exercise Price
Options outstanding at December 31, 2020		2,250,000	$	1.02
Granted		-	$	-
Exercised		-	$	-
Cancelled / Expired		-	$	-
Options outstanding at March 31, 2021 (unaudited)		2,250,000	$	1.02
Options exercisable at March 31, 2021 (unaudited)		1,712,500	$	1.04

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

The Company valued warrants and stock options granted during the three months ended March 31, 2021 and 2020 using the Black-Scholes valuation model utilizing the following variables:

	March 31,			March 31,
	2021			2020
Volatility		-	%		59.4	%
Dividends		-			-
Risk-free interest rates		-	%		2.49	%
Term (years)		-			5.00