STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2020

STOCK OPTIONS (Tables)

Summary of Stock option award

	Options outstanding
	Number			Weighted average exercise price		Weighted average remaining contractual life (in years)
Outstanding December 31, 2017		5,710,000		$	1.75		7.39
Expired		-			-		-
Granted		30,000			3.43		3.59
Outstanding December 31, 2018		5,740,000		$	1.76		6.37
Expired		(10,000	)		3.43		-
Granted		360,000			2.08		9.26
Outstanding December 31, 2019		6,090,000		$	1.78		5.61
Expired		-			-		-
Not vested
Granted		410,000			2.34		8.94
Outstanding December 31, 2020		6,500,000		$	1.81		4.87
Options exercisable		6,260,416		$	1.79		4.70

Summary of Fair value of the options granted

Description		2020		2019		2018
Share price	$	1.81~2.86		$	2.08		$	2.59~$3.39
Exercise price	$	1.81~2.86		$	2.08		$	3.43
Risk-free interest rate		1.12%~1.67%			2.48	%		2.74%~2.78	%
Expected volatility		81.34%~106.56%			105.36	%		149.99%~150.43	%
Expected option life in years		4~10.	Yrs		10	Yrs		4	Yrs
Expected dividend yield		-			-			-