Stock Options

12 Months Ended

Dec. 31, 2021

Stock Options

Stock Options

Note 5. 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, 2021, 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, 2021, 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, 2021, the 2013 Plan has 1,150,000 shares available for future grants of stock option.

The Company didn’t recognize any compensation expense related to the issued option grants for the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, 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, 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	$	0.0273
Granted		--			--		--
Exercised		--			--		--
Expired/forfeited		--		$	--	$	--
Outstanding, December 31, 2021		25,750,000		$	0.02 to 0.023	$	0.0210		2.28	$	539,900
Exercisable, December 31, 2021		25,750,000		$	0.02 to 0.023	$	0.0210		2.28	$	539,900

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, 2021, 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		1.8	$	0.020		17,450,000	$	0.020
$	0.023		8,300,000		3.3	$	0.023		8,300,000	$	0.023
$	0.02 - $ 0.023		25,750,000			$	0.021		25,750,000	$	0.021

During the year 2021 and 2020, no stock options were issued.

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