Quarterly report pursuant to Section 13 or 15(d)

NOTE 14: STOCK OPTIONS

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NOTE 14: STOCK OPTIONS
9 Months Ended
Sep. 30, 2019
Notes  
NOTE 14: STOCK OPTIONS

NOTE 14: STOCK OPTIONS

 

On January 02, 2019, the Company granted 2,000,000 options with an exercise price of $0.75 per share to the Company owned by Mr. John Huemoeller, Chief Executive Officer of the Company.

 

The following table summarizes the changes in options outstanding, option exercisability and the related prices for the shares of the Company’s common stock issued to employees and consultants under a stock option plan at September 30, 2019:

 

 

Options Outstanding

Options Exercisable

 

 

 

Exercise

Prices ($)

Number

Outstanding

Weighted Average Remaining Contractual Life

(Years)

Weighted

Average

Exercise

Price ($)

Number

Exercisable

Weighted

Average

Exercise

Price ($)

$0.75

2,000,000

10

$0.75

2,000,000

$0.75

 

The stock option activity for the year ended September 30, 2019 is as follows:

 

 

 

Options Outstanding

Weighted Average Exercise Price

Outstanding at December 31, 2018

-

-

Granted

2,000,000

$0.75

Exercised

-

-

Expired or canceled

-

-

Outstanding at September 30, 2019

2,000,000

$ 0.75

 

Stock-based compensation expense related to vested options was $1,592,500 during the nine months ended September 30, 2019. which includes $227,500 compensation expenses for unvested options. The Company determined the value of share-based compensation for options vesting during nine months ended September 30, 2019 using the Black-Scholes fair value option-pricing model with the following weighted average assumptions: estimated fair value of Company’s common stock of $0.91, risk-free interest rate of 2.66%, volatility of 318%, expected lives of 10 years, and dividend yield of 0%.