Stock Options (Tables)

3 Months Ended

Mar. 31, 2021

Stock Options

Stock Option

Stock option activity for the quarter ended March 31, 2021, is summarized as follows:

	Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Options outstanding and exercisable at December 31, 2020		12,180,500			0.11	$	4,750,395		4.63
Granted		20,000			0.45		3,000		—
Expired/forfeited		(1,350,000	)		0.54		—		—
Options outstanding and exercisable at March 31, 2020		10,850,500			0.15	$	4,892,855		4.51

Schedule of valuation assumptions

The significant assumptions relating to the valuation of the Company’s stock options granted during the three months ended March 31, 2021 were as follows:

	March 31, 2021
Dividend yield	0.00%
Expected life	3 Years
Expected volatility	1.02%
Risk-free interest rate	0.35%