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STOCK TRANSACTIONS
 9 Months Ended
Sep. 30, 2021
STOCK TRANSACTIONS  
STOCK TRANSACTIONS

NOTE 6 – STOCK TRANSACTIONS

On July 25, 2021, the Company granted to a new employee, with the approval of the Company’s compensation committee, 10-year options to purchase 50,000 shares of Common Stock under the Company’s Amended and Restated 2006 Employee Stock Incentive Plan, as amended. The options have an exercise price equal to $1.57 per share and vest over a four-year period in 16 equal quarterly increments. The Company estimated the fair value of the options on the date of grant using the Black-Scholes option-pricing model to be approximately $55,000 based on the following weighted average assumptions: share price equal to $1.57; dividend yield of 0% for all years; expected volatility of 84.3%; risk-free interest rate of 0.88%; and expected life of six years.