5. Stock Options

12 Months Ended

Dec. 31, 2020

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. As of December 31, 2020, the 2001 Plan has nil shares available for future grants of stock options as they have expired.

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. As of December 31, 2020, the 2009 Plan has nil shares available for future grants of stock options as they have expired.

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. As of December 31, 2020, the 2013 Plan has 1,150,000 shares available for future grants of stock option.

The Company recognized compensation expense related to the issued option grants of NIL and €2 for the years ended December 31, 2020 and 2019, 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, 2020 and 2019. As of December 31, 2020, no remaining options are unvested.

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, 2018		29,100,000		$	0.02 to $0.19	$	0.0364
Granted		--			--		--
Exercised		--			--		--
Expired/forfeited		(2,350,000	)	$	0.14	$	0.14
Outstanding, December 31, 2019		26,750,000		$	0.02 to $0.19	$	0.0273
Granted		--			--		--
Exercised		--			--		--
Expired/forfeited		(1,000,000	)	$	0.19	$	0.19
Outstanding, December 31, 2020		25,750,000		$	0.02 to 0.023	$	0.0210	3.38	$	1,494,350
Exercisable, December 31, 2020		25,750,000		$	0.02 to 0.023	$	0.0210	3.28	$	1,494,350

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, 2020, 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
$ 0.02	17,450,000	3.8	$	0.020	17,450,000	$	0.020
$ 0.023	8,300,000	5.3	$	0.023	8,300,000	$	0.023
$ 0.02  -  $ 0.19	25,750,000		$	0.021	25,750,000	$	0.021

During the year 2020 and 2019, no stock options were issued.

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