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Stock Options

6 Months Ended

Jun. 30, 2020

Stock Options [Abstract]

STOCK OPTIONS

NOTE 6 – STOCK OPTIONS

On January 1, 2020, pursuant to the terms on the employment agreement with Mr. Yakov he was granted 6,667 common stock options. The grant shall vest at the rate of 1/3 beginning on each anniversary of the effective date of grant. The options have an exercise price of $0.001 and expire in three years after each vest date. The aggregate fair value of the options totaled $99,994 based on the Black Scholes Merton pricing model using the following estimates: exercise price of $0.001, 1.63% risk free rate, 95.3% volatility and expected life of the options of 3 years. The fair value is being amortized over the applicable vesting period and credited to additional paid in capital.

A summary of the status of the Company's outstanding stock options and changes during the six months ended June 30, 2020 is presented below:

Stock Options		Shares				Weighted Average Exercise Price				Aggregate Intrinsic Value
Options outstanding at January 1, 2020			278,506			$	0.0001				—
Granted			6,667			$	0.001				—
Exercised			—			$	—				—
Forfeited			—			$	—				—
Options outstanding June 30, 2020			285,173			$	0.0001			$	2,994,269
Shares exercisable at June 30, 2020			112,735			$	0.0001			$	1,183,698

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- References

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- 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

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