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10. Stock Options
 3 Months Ended
Mar. 31, 2017
Notes  
10. Stock Options

10.          Stock Options

 

In the fourth quarter of 2016 the Company granted 2,750,000 options to management, directors, consultants, and employees of the Company. Of these options 1,225,000 vested in the fourth quarter of 2016 and the remaining 1,525,000 vest in 2017. The options had a fair value of $268,032 which is being recognized ratable over the vesting period. Compensation costs of $151,143 was recognized as a general and administrative expense in the fourth quarter of 2016 and $33,504 was recognized in the first quarter of 2017. The remaining unrecognized compensation cost of $83,385 is expected to be recognized in the remainder of 2017.

 

 

 

 

Number of Options

 

Exercise Prices

Balance January 1, 2016

 

5,750,000

 

0.10-0.15

   Exercised

 

(500,000)

 

0.10

Issued

 

2,750,000

 

0.15

Expired

 

(500,000)

 

0.11

Balance December 31, 2016 and March 31, 2017

 

7,500,000

 

0.10-0.15

 

 

 

 

 

Exercisable at December 31, 2016 and March 31, 2017

 

5,975,000

$

0.10-0.15

 

 

 

 

 

 

 

At March 31, 2017, the stock options have an intrinsic value of approximately $65,000 and have a weighted average remaining term of 2.79 years.