4. Stock Options

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

4. Stock Options

2001 Qualified Incentive Stock Option Plan:

The Company's board of directors approved a Stock Option Plan on June 15, 2001, which provides for the issuance of up to 5,000,000 shares of the Company's common stock to employees and non-employee directors.

2009 Qualified Incentive Stock Option Plan:

During 2010, the Board of Directors of Mymetics awarded 4,350,000 incentive stock options to the employees and officers of the Company.

2013 Qualified Incentive Stock Option Plan:

For the year ended December 31 2013, the Board of Directors of Mymetics approved 30,000,000 incentive stock options to the employees and officers of the Company.

The Company recognized compensation expense related to the issued option grants of E77 and E146 for the years ended December 31, 2016 and 2015, respectively. These amounts were recognized as research and development expense and general and administrative expense based on the specific recipient of the award for the years ended December 31, 2016 and 2015. As of December 31, 2016, a total of 9,130,000 shares of common stock with unrecognized compensation cost of E51 are unvested. The cost is expected to be recognized ratably through August 2019.

A summary of activity related to stock options under the 2001, 2009 and 2013 Stock Option Plans is represented below:

	Number of Shares			Exercise Price Range		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding, December 31, 2014		20,850,000		$	0.02 to 3.50	$	0.040
Granted		8,850,000			0.023		0.023
Exercised		--			--		--
Expired/forfeited		(120,000	)		0.023		0.023
Outstanding, December 31, 2015		29,580,000		$	0.02 to $0.19	$	0.0362
Granted		--			--		--
Exercised		--			--		--
Expired/forfeited		(480,000	)		0.023		0.023
Outstanding, December 31, 2016		29,100,000		$	0.02 to $0.19	$	0.0364		6.80	$	8,725
Exercisable, December 31, 2016		19,970,000		$	0.02 to $0.19	$	0.0432		6.44	$	6,575

The aggregate intrinsic value of the stock options fluctuates in relation to the market price of the Company’s common stock.

Outstanding and exercisable options by price range as of December 31, 2016, were as follows:

	Outstanding options					Exercisable Options
		Weighted			Weighted			Weighted
		Average			Average			Average
Range of Exercise	Number	Remaining			Exercise	Number		Exercise
Prices per Share	Outstanding	Life (Years)			Price	Exercisable		Price
$0.14	2,350,000		3.0	$	0.140	2,350,000	$	0.140
$0.19	1,000,000		3.5	$	0.190	1,000,000	$	0.190
$0.02	17,450,000		6.8	$	0.020	13,150,000	$	0.020
$0.023	8,300,000		8.3	$	0.023	3,470,000	$	0.023
$0.02 - $ 0.19	29,100,000			$	0.0364	19,970,000	$	0.0432

The fair value of the options at the grant date is determined under the Black Scholes option pricing model. During the year ended December 31, 2015, the following weighted-average assumptions were used:

Estimated volatility	170.47	%
Risk free interest rate	1.32	%
Expected dividend rate	—
Expected life	6 years

During the year 2016, no stock options were issued.

As of December 31, 2016, the 2013 Stock Option Plan has 1,150,000 shares available for future grants of stock options.

The Company will issue new shares upon the exercise of any options.