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13. Stock Options
 6 Months Ended
Jun. 30, 2021
Notes  
13. Stock Options

13. Stock Options 

 

No options were granted in the second quarter of 2020 or 2021. In February 2021, the board granted 4,150,000 stock options to officers, board members, and employees. These options vested immediately and are exercisable at $0.40 for 3 years. Total stock-based compensation recognized on these options during the three-month period ended March 31, 2021 was $604,571, no options were granted in the second quarter of 2021. In the three and six-month periods ending June 30, 2021 100,000 and 725,000, respectively, options were exercised in cashless exercises.

 

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

 

 

Number of Options

 

Exercise Prices

Balance December 31, 2019

5,262,500

$

0.10-0.18

Exercised

(1,150,000)

 

0.10-0.18

Expired

(2,012,500)

 

0.10-0.18

Balance December 31, 2020

2,100,000

 

0.10-0.14

Exercised

(725,000)

 

0.14

Issued

4,150,000

 

0.40

Balance June 30, 2021

5,525,000

 

0.10-0.40

Exercisable at June 30, 2021

5,525,000

$

0.10-0.40

 

At June 30, 2021, outstanding stock options have a weighted average remaining term of approximately 2.16 years and an intrinsic value of approximately $226,250. Intrinsic value of the options exercised for the three and six-month period ended June 30, 2021 were $14,000 and $164,000, respectively.