STOCK OPTIONS AND WARRANTS (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| STOCK OPTIONS AND WARRANTS (Tables) |
|
| Schedule of stock options |
The following table summarizes the stock option activity for the year ended December 31, 2019 and 2018: | | | Shares
| | | Weighted- Average Exercise Price
| | | Weighted- Average Remaining Contractual Term
| | | Aggregate Intrinsic Value
| |
| Outstanding at January 1, 2018
| | | 478,850 | | | $ | 4.00 | | | | 8.9 | | | $ | 326,700 | |
| Grants
| | | 315,000 | | | | 14.00 | | | | 5.0 | | | | - | |
| Exercised
| | | - | | | | - | | | | - | | | | - | |
| Expired
| | | (2,000 | ) | | | 10.00 | | | | - | | | | - | |
| Outstanding at December 31, 2018
| | | 791,850 | | | | 8.09 | | | | 7.7 | | | | 1,188,065 | |
| Grants
| | | 53,280 | | | | 6.52 | | | | 2.5 | | | | - | |
| Exercised
| | | - | | | | - | | | | - | | | | - | |
| Expired
| | | (1,500 | ) | | | 20.00 | | | | - | | | | - | |
| Forfeited
| | | (20,833 | ) | | | 5.75 | | | | - | | | | - | |
| Outstanding at December 31, 2019
| | | 822,797 | | | $ | 8.03 | | | | 6.5 | | | $ | 244,603 | |
| Exercisable at December 31, 2019
| | | 814,607 | | | $ | 8.04 | | | | 6.6 | | | $ | 244,603 | |
|
| Schedule of assumption |
In applying the Black-Scholes option pricing model, the Company used the following assumptions:
|
|
| 2019
|
|
| 2018
|
|
| Risk-free interest rate
|
| 2.36% - 2.58%
|
|
|
| 2.85 | % |
| Expected term (years)
|
| 1.00 5.00
|
|
|
| 5.50 |
|
| Expected volatility
|
| 99.85% - 143.11%
|
|
|
| 135.18 | % |
| Expected dividends
|
|
| 0.00 |
|
|
| 0.00 |
|
|
| Schedule of information regarding stock options |
The following table presents information related to stock options at December 31, 2019: | Options Outstanding
| | Options Exercisable
| |
| | | | | | Weighted
| | | | | | Weighted
| |
| | | | | | Average
| | | Exercisable
| | | Average
| |
| Exercise
| | Number of
| | | Remaining Life
| | | Number of
| | | Remaining Life
| |
| Price
| | Options
| | | In Years
| | | Options
| | | In Years
| |
| | | | | | | | | | | | | |
| | $0.01-2.50
| | | 330,350
| | | | 6.5
| | | | 330,350
| | | 6.5
| |
| | 2.51-5.00
| | | 35,000
| | | | 0.6
| | | | 35,000
| | | 0.6
| |
| | 5.01 and up
| | | 457,447
| | | | 7.0
| | | | 449,257
| | | 7.1
| |
| | | | 822,797
| | | | 6.5
| | | | 814,607
| | | 6.6
| |
|
| Schedule of changes in warrants outstanding |
The following table summarizes the changes in warrants outstanding and the related prices for the shares of the Company's common stock:
| Warrants Outstanding
| |
| Warrants Exercisable
|
|
| Exercise Prices
| | | Number Outstanding
| | | Weighted Average Remaining Contractual Life (Years)
| | | Weighted Average Exercise Price
| | | Number Exercisable
| | | Weighted Average Remaining Contractual Life (Years)
|
|
| $
| 20.00
| | |
| 10,000
| | |
| 1.91
| |
| $
| 20
| | |
| 10,000
| | |
| 1.91
| |
|
| 100.00
| | |
| 62,500
| | |
| 1.39
| | |
| 100
| | |
| 62,500
| | |
| 1.39
| |
| | | |
| 72,500
| | |
| 1.46
| |
| $
| 89.0
| | |
| 72,500
| | |
| 1.46
| |
|
| Schedule of summary of warrant activity |
The following table summarizes the warrant activity for the year ended December 31, 2019:
|
|
| Number of Shares
|
|
| Weighted Average Exercise Price Per Share
|
|
| Outstanding at January 1, 2018
|
|
| 24,300 |
|
| $ | 91.00 |
|
| Issued
|
|
| 72,500 |
|
|
| 88.97 |
|
| Exercised
|
|
| - |
|
|
| - |
|
| Expired
|
|
| (11,550 | ) |
|
| 100.00 |
|
| Outstanding at December 31, 2018
|
|
| 85,250 |
|
| $ | 79.40 |
|
| Issued
|
|
| - |
|
|
| - |
|
| Exercised
|
|
| - |
|
|
| - |
|
| Expired
|
|
| (12,750 | ) |
|
| 25.00 |
|
| Outstanding at December 31, 2019
|
|
| 72,500 |
|
| $ | 89.00 |
|
|