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STOCK OPTIONS AND WARRANTS (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Options Pricing

 

 

 

Options issued 2017

 

Options issued 2016

Dividend yield

 

0%

 

0%

Expected volatility

 

78% - 87%

 

87% - 91%

Risk free interest rate

 

1.73% - 2.20%

 

1.01% - 1.93%

Expected life (years)

 

5.00

 

5.00

 

Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common stock options

 

 

Weighted-

average

exercise price

 

 

Aggregate

intrinsic

value

 

 

Weighted-average

remaining contractual

term (years)

 

Outstanding – December 31, 2016

 

 

1,496,250

 

 

$

0.32

 

 

$

385,017

 

 

 

3.57

 

Issued

 

 

1,465,000

 

 

 

0.73

 

 

 

 

 

 

 

Exercised

 

 

(150,000

)

 

 

0.23

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding – December 31, 2017

 

 

2,811,250

 

 

$

0.54

 

 

$

1,849,517

 

 

 

3.65

 

Exercisable – December 31, 2017

 

 

1,985,693

 

 

$

0.50

 

 

$

1,382,138

 

 

 

3.40

 

 

Summary of Unvested Stock Option Activity

 

A summary of unvested stock option activity is as follows:

 

 

 

Common stock

options

 

 

Weighted-average

exercise price

 

 

Aggregate

intrinsic

value

 

 

Weighted-average

remaining contractual

term (years)

 

Unvested – December 31, 2016

 

 

128,889

 

 

$

0.34

 

 

$

30,933

 

 

 

3.99

 

Granted

 

 

1,465,000

 

 

 

0.73

 

 

 

 

 

 

 

Vested

 

 

(768,332

)

 

 

0.78

 

 

 

 

 

 

 

Forfeited or expired

 

 

 

 

 

 

 

 

 

 

 

 

Unvested – December 31, 2017

 

 

825,557

 

 

$

0.63

 

 

$

467,379

 

 

 

4.27