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Stock-Based Compensation
3 Months Ended
Mar. 31, 2020
Compensation Related Costs [Abstract]  
Stock-Based Compensation

Note 7. Stock-Based Compensation

 

The Company has granted options/warrants to consultants. GAAP requires that all stock-based compensation be recognized as an expense in the financial statements and that such costs be measured at the fair value of the award at the date of grant. These awards generally vest ratably over 12 to 60 months from the date of grant and the Company charges to operations quarterly the current market value of the options using the Black-Scholes method. During the three months ended March 31, 2020 and 2019 there were no options granted to consultants or related charges.

 

There were no grants of restricted stock or compensation expense recorded relating to restricted stock grants to employees and directors during the three months ended March 31, 2020 and 2019.

 

As of March 31, 2020, there were 882,500 shares available for future grant under our 2019 Equity Incentive Plan, which was approved by the Company’s shareholders in June 2019.