Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stockholders' Equity

NOTE 10 – STOCKHOLDERS’ EQUITY

Common Stock

The Company has not issued any common stock through September 30, 2020, nor for the year ended December 31, 2019.

Stock Compensation

The Company offers stock option equity awards to directors and key employees. Options vest in tranches and expire in five (5) years. During the nine months ended September 30, 2020, and 2019, the Company recorded vested options expense of $30,771 and $259,962, respectively. For the three months ended September 30, 2020, and 2019, the Company recorded vested options expense of $10,257 and ($14,455), respectively. The option expense not taken as of September 30, 2020, is $51,285, with a weighted average term of 2.6 years.

The following table represents stock option activity as of and for the nine months ended September 30, 2020:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Life		Aggregate Intrinsic Value
Options Outstanding – December 31, 2019		3,800,000	$	0.21		3.0	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Options Outstanding – September 30, 2020		3,800,000	$	0.21		2.5	$	—
Exercisable and Vested, September 30, 2020		3,400,000	$	0.21		2.4	$	—