Stock Incentive Plans

Stock Options

The following table summarizes stock option activity for the nine months ended September 30, 2019.



	Options Outstanding
	Shares		Weighted Average Exercise Price
Outstanding, December 31, 2018	5,613,057		$	0.83
Options granted	1,635,000		0.37
Options expired / forfeited	(2,427,650	)	0.64
Outstanding, September 30, 2019	4,820,407		0.71
Exercisable, September 30, 2019	2,986,333		$	0.76

The following table summarizes additional information on stock options outstanding at September 30, 2019.



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding	Weighted- Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$0.28 - $1.00	4,312,000	8.59	$	0.57	2,762,000	$	0.66
$1.50 - $1.80	493,207	7.93	$	1.79	209,133	$	1.79
$2.60 - $6.35	15,200	0.77	$	4.48	15,200	$	4.48

Totals	4,820,407	8.50	$	0.71	2,986,333	$	0.76

Weighted-Average Exercisable Remaining Contractual Life (Years) 8.09

During the nine months ended September 30, 2019, the Company granted an aggregate of 1,635,000 stock options to employees. No stock options were granted for the three month period ended September 30, 2019.

Total expense related to stock options was approximately $72,000 and $814,000 for the three months ended September 30, 2019 and 2018, respectively and approximately $708,000 and $1.3 million for the nine months ended September 30, 2019 and 2018, respectively.

As of September 30, 2019, the Company had approximately $831,000 of total unrecognized compensation expense related to unvested stock options.

As of September 30, 2019, the intrinsic value of options outstanding was zero.