COMMON STOCK OPTIONS

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

COMMON STOCK OPTIONS

9. COMMON STOCK OPTIONS

In 2007, the Company adopted the 2007 Incentive and Non-Qualified Stock Option Plan (the “Plan”), which replaced the 1997 Incentive and Non-Qualified Stock Option Plan, as amended in 2001, and under which 8,000,000 shares of Common Stock are reserved for issuance under qualified options, nonqualified options, stock appreciation rights and other awards as set forth in the Plan.

Under the Plan, qualified options are available for issuance to employees of the Company and non-qualified options are available for issuance to consultants and advisors. The Plan provides that the exercise price of a qualified option cannot be less than the fair market value on the date of grant and the exercise price of a nonqualified option must be determined on the date of grant. Options granted under the Plan generally vest three to five years from the date of grant and generally expire ten years from the date of grant.

During the years ended December 31, 2021 and 2020, no stock options were granted by the Company.

The following is a summary of all Common Stock option activity during the year ended December 31, 2021 and 2020:

	Shares Under Options Outstanding			Weighted Average Exercise Price
Outstanding at December 31, 2019		2,300,000		$	0.04
Options granted		-			-
Options forfeited		(2,300,000	)		0.04
Options exercised		-			-
Outstanding at December 31, 2020		-			-
Options granted		-			-
Options forfeited		-			-
Options exercised		-			-
Outstanding at December 31, 2021		-		$	-

	Options Exercisable		Weighted Average Exercise Price Per Share
Exercisable at December 31, 2020		-	$	-
Exercisable at December 31, 2021		-	$	-

The following represents additional information related to Common Stock options outstanding and exercisable at December 31, 2021:

				Outstanding and Exercisable
Exercise Price		Number of Shares		Weighted Average Remaining Contract Life in Years		Weighted Average Exercise Price
$	-		-		-	$	-