STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2018

Stock Options Tables Abstract

Weighted average exercise price, and the weighted average remaining contractual life

	Options outstanding
	Number			Weighted average exercise price		Weighted average remaining contractual life (in years)
Outstanding December 31, 2015		6,519,500			4.43		4.28
Expired		(859,500	)		2.99
Granted		-			-		-
Cancelled		-			-		-
Outstanding December 31, 2016		5,660,000			1.74		8.37
Granted		50,000			2.93		9.03
Outstanding December 31, 2017		5,710,000		$	1.75		7.39
Expired		-			-		-
Not vested
Granted		30,000			3.43		3.59
Outstanding December 31, 2018		5,740,000		$	1.76		6.37
Options exercisable		5,710,000		$	1.75		6.39

Fair value of the options granted

Description		2018		2017			2016
Share price	$	2.59~$3.39		$	2.93			-
Exercise price	$	3.43		$	2.93			-
Risk-free interest rate		2.74%~2.78	%		2.38	%		-
Expected volatility		149.99%~150.43	%		108.14	%		-
Expected option life in years		4Yrs.			10Yrs.			-
Expected dividend yield		-			-			-