4. Stock Options

12 Months Ended

Dec. 31, 2018

Stockholders' Equity Note [Abstract]

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 E13 and E36 for the years ended December 31, 2018 and 2017, 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, 2018 and 2017. As of December 31, 2018, a total of 442,500 shares of common stock with unrecognized compensation cost of E1 are unvested. The cost is expected to be recognized ratably through March 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, 2016		29,100,000	$	0.02 to $0.19	$	0.0364
Granted		--		--		--
Exercised		--		--		--
Expired/forfeited
Outstanding, December 31, 2017		29,100,000	$	0.02 to $0.19	$	0.0364
Granted		--		--		--
Exercised		--		--		--
Expired/forfeited		--		--		--
Outstanding, December 31, 2018		29,100,000	$	0.02 to $0.19	$	0.0364		4.81	$	809,400
Exercisable, December 31, 2018		27,490,000	$	0.02 to $0.19	$	0.0372		4.72	$	762,066

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, 2018, 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		1.0	$	0.140		2,350,000	$	0.140
$	0.19		1,000,000		1.5	$	0.190		1,000,000	$	0.190
$	0.02		17,450,000		4.8	$	0.020		17,450,000	$	0.020
$	0.023		8,300,000		6.3	$	0.023		6,690,000	$	0.023
$	0.02 - $ 0.19		29,100,000			$	0.0364		27,490,000	$	0.0372

During the year 2018 and 2017, no stock options were issued.

As of December 31, 2018, 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.