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Stock Options

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

NOTE 5 – STOCK OPTIONS

On June 23, 2020, the Company granted 148,000 options under the 2018 Equity Incentive Plan. The options shall vest quarterly over two years commencing June 23, 2020, whereby 12.50% of the shares covered by the options will vest on the three month anniversary of June 23, 2020, and 12.50% of the shares covered by the options at the end of each subsequent three month period thereafter over the course of the subsequent twenty-one months.

The following table presents the Company’s stock option activity for employees and directors of the Company for the six months ended June 30, 2020:

	Number of Options			Weighted Average Exercise Price
Outstanding at December 31,2019		1,150,004			0.45
Granted		148,000			0.45
Exercised		-			-
Forfeited or expired		(150,000	)		0.45
Outstanding at June 30,2020		1,148,004			0.45
Number of options exercisable at June 30, 2020		429,169			0.45

The aggregate intrinsic value of the awards outstanding as of June 30, 2020 is US$516,602. These amounts represent the total intrinsic value, based on the Company’s stock price of US$ 0.9 as of June 30, 2020, less the weighted exercise price. This represents the potential amount received by the option holders had all option holders exercised their options as of that date.

Costs incurred in respect of stock-based compensation for employees and directors, for the six and three months ended June 30, 2020 were $85,864 and $54,256, respectively.