XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.19.2

Stock Options | 6 Months Ended
--- | ---
Jun. 30, 2019
Share-based Payment Arrangement [Abstract] |
Stock Options | 14. Stock Options The Company adopted a stock option plan (“Plan”). The purpose of this Plan is to provide additional incentives to key employees, officers, directors and consultants of the Company and its subsidiaries in order to help attract and retain the best available personnel for positions of responsibility and otherwise promote the success of the Company’s business. It is intended that options issued under this Plan constitute non-qualified stock options. The general terms of awards under the Plan are that 100% of the options granted will vest the year following the grant. The maximum term of options granted is 5 years and the exercise price of all options are issued for not less than fair market value at the date of grant. The following table summarizes the Company’s stock option activity for the year ended December 31, 2017 and the six month period ended June 30, 2019:
|  | Number of shares |  |  | Exercise price per share |  |  | Weighted average exercise price |
Balance, December 31, 2017 |  |  | 713,000 |  |  | $ | 0.75 – 1.70 |  |  | $ | 1.21 |
Granted |  |  | 110,000 |  |  | $ | 1.48 – 1.75 |  |  | $ | 1.74 |
Cancelled or expired |  |  | (61,334 | ) |  | $ | 1.00 – 1.70 |  |  | $ | 1.09 |
Exercised |  |  | (101,666 | ) |  | $ | 0.75 – 1.42 |  |  | $ | 1.01 |
Balance, December 31, 2018 |  |  | 660,000 |  |  | $ | 0.75 – 1.75 |  |  | $ | 1.35 |
Granted |  |  | 153,000 |  |  | $ | 3.46 |  |  | $ | 3.46 |
Cancelled or expired |  |  | (47,112 | ) |  | $ | 0.75 – 1.70 |  |  | $ | 1.37 |
Exercised |  |  | (117,888 | ) |  | $ | 0.75 – 1.70 |  |  | $ | 1.19 |
Balance, June 30, 2019 |  |  | 648,000 |  |  | $ | 0.75 – 3.46 |  |  | $ | 1.85 |
Exercisable, June 30, 2019 |  |  | 395,000 |  |  | $ | 0.75 – 1.70 |  |  | $ | 1.25 |
The fair value of each option grant is calculated using the following weighted average assumptions:
|  | 2019 |  |  | 2018 |
Expected life – years |  |  | 3.0 |  |  |  | 3.0 |
Interest rate |  |  | 1.93 | % |  |  | 2.8 – 2.96 | %
Volatility |  |  | 43.89 | % |  |  | 47.59 – 51.85 | %
Weighted average fair value of options granted |  | $ | 1.0959 |  |  | $ | 0.4759 – 0.6313 |
During the six months ended June 30, 2019, the Company granted 40,000 (2018 – nil) stock options to consultants and has applied ASC 718 using the Black-Scholes option-pricing model, which resulted in expenses of $14,612 (2018 - $nil). The Company granted 113,000 stock options to employees during the six months ended June 30, 2019 (2018 – 5,000) which resulted in $41,279 in expenses (2018 - $1,109). Vesting of options granted in previous years resulted in expenses in the amount of $nil for employees (2018 - $36,547) during the six months ended June 30, 2019 and $11,495 for consultants (2018 - $13,350) . There were 102,000 employee and 15,888 consultant stock options exercised during the during the six months ended June 30, 2019 (2018 – 23,000 employee and 15,000 consultant stock options). As of June 30, 2019, there was approximately $157,669 of compensation expense related to non-vested awards. This expense is expected to be recognized over a weighted average period of 2.0 years. The aggregate intrinsic value of vested options outstanding at June 30, 2019 is $1,289,080 (2018 – $321,330).

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration