Stock Options and Warrants

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Stock Options and Warrants

The Company currently has two non-statutory stock option plans, the Fiscal 2001 Non-statutory Stock Option Plan (the “2001 Plan”) and the 2013 Equity Compensation Plan (the “2013 Plan”). Both plans have been adopted by our Board of Directors and approved by our shareholders. Both the 2001 Plan and the 2013 Plan have options available for future issuance. Any common shares issued as a result of the exercise of stock options would be new common shares issued from our authorized issued shares.

During the three months ended June 30, 2020, the Company issued 0 options to purchase shares of common stock. During the three months ended June 30, 2019, the Company issued options to purchase 20,000 shares of stock to each of its non-employee board members as an annual stock option grant (for a total of 80,000 options) under the 2001 Plan.

Stock option activity for the six months ended June 30, 2020 and the six months ended June 30, 2019 is summarized as follows (the figures contained within the tables below have been rounded to the nearest thousand):

	Six months ended June 30, 2020							Six months ended June 30, 2019
	Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value as of June 30, 2020		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of June 30, 2019
Options outstanding at beginning of year		2,252,000		$	0.14				2,222,000	$	0.13
Granted		0			NA				80,000	$	0.07
Exercised		0			NA				0		NA
Cancelled/expired		(60,000	)	$	0.13				0		NA
Options outstanding at end of year		2,192,000		$	0.12	$	177,000		2,302,000	$	0.13	$	1,000
Options exercisable at end of year		2,192,000		$	0.12				2,142,000	$	0.13

The Company recognized $2,000 in share based payment expense in the six months ended June 30, 2020 and $4,000 in share based payment expense in the six months ended June 30, 2019. The Company recognized $1,000 in share based payment expense in the three months ended June 30, 2020 and $1,000 in share based payment expense in the three months ended June 30, 2019. At June 30, 2020, there was $0 of total unrecognized share based payment expense related to stock options.

Warrants

Warrant activity for the six months ended June 30, 2020 and the six months ended June 30, 2019 is summarized as follows:

	Six months ended June 30, 2020							Six months ended June 30, 2019
	Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value as of June 30, 2020		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of June 30, 2019
Warrants outstanding at beginning of year		2,000,000		$	0.18				2,000,000	$	0.18
Granted		0			NA				0		NA
Exercised		0			NA				0		NA
Cancelled/expired		(2,000,000	)	$	0.18				0		NA
Warrants outstanding at end of year		0			NA		None		2,000,000	$	0.18		None
Warrants exercisable at end of year		0			NA				2,000,000	$	0.18

In the six months ended June 30, 2020 and June 30, 2019, the Company recognized $0 in debt issuance and deferred finance costs related to the issuance of the above warrants outstanding. In the three months ended June 30, 2020 and June 30, 2019, the Company recognized $0 in debt issuance and deferred finance costs related to the issuance of the above warrants. As of June 30, 2020, there was $0 of total unrecognized expense.