Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.8.0.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of fair value of the stock options granted Black-Scholes option valuation model

Treasury issues with a term equal to the expected life of the option being valued:

 

    March 31,  
    2018   2017  
               
Dividend yield         0.00%  
Expected Volatility         70.90%  
Weighted-average volatility          
Expected dividends          
Expected term (in years)         5 Years  
Risk-free rate         2.48%  
Schedule of stock option plan

The following table summarizes the status of the Plan:

 

    Three Months Ended March 31,  
    2018   2017  
    Shares   Weighted
Average
Exercise
Price
  Shares   Weighted
Average
Exercise
Price
 
                   
Outstanding at January 1   1,038,000   $ 0.41     905,000   $ 0.37  
Granted     $     500,000   $ 0.41  
Exercised     $       $  
Forfeited           60,000   $ 0.36  
Outstanding at March 31   1,038,000   $ 0.41     1,345,000   $ 0.39  
Options exercisable at March 31   756,385   $ 0.39     500,000   $ 0.38  
Weighted average fair value of options granted during the period     $       $ 0.25  
Stock-based compensation expense     $ 12,183       $ 16,580  
Schedule of information pertaining to options outstanding

The following table presents information pertaining to options outstanding at March 31, 2018:

 

Range of Exercise Price   Number
Outstanding
  Weighted
Average
Remaining
Contractual
Life
  Weighted
Average
Exercise
Price
  Number
Exercisable
  Weighted
Average
Exercise
Price
 
                           
$0.36 - $0.50   1,038,000   5 years   $ 0.41   756,385   $ 0.39