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12. Stock Options
 6 Months Ended
Jun. 30, 2019
Notes  
12. Stock Options

12.          Stock Options

 

In June 2019, 2,100,000 stock options were granted to non-officer employees. These options vested immediately and are exercisable at $0.14 for 3 years. Total stock based compensation recognized on these options was $190,019.   The weighted average fair value of stock option awards granted and the key assumptions used in the Black-Scholes valuation model to calculate the fair value of the options are as follows: volatility of 98.6%, risk-free interest rate of 1.81%, and an expected term of three years.

 

No options were granted in 2018, however $27,140 in stock based compensation was recognized during the six month period ended 2018 for vesting of options granted prior to 2018.

Activity in the Company’s stock options is as follows:

 

 

 

Number of Options

 

Exercise Prices

Balance December 31, 2017

 

7,662,500

 

0.10-0.18

Expired

 

(500,000)

 

0.10

Granted

 

(108,000)

 

0.15

Balance December 31, 2018

 

7,054,500

 

0.10-0.18

Expired

 

(750,000)

 

0.10

Granted

 

2,100,000

 

0.14

Balance June 30, 2019

 

8,404,500

 

0.10-0.18

Exercisable at June 30, 2019

 

8,404,500

$

0.10-0.18

 

At June 30, 2019, outstanding stock options have a weighted average remaining term of approximately 1.3 years and an intrinsic value of approximately $81,600.