15. STOCK OPTIONS AND WARRANTS (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
| Assumptions for options granted |
We used the following
assumptions for options granted in fiscal 2018 and 2017:
| |
2018 |
2017 |
| Expected volatility |
82.40% |
81.05% |
| Expected term |
5 Years |
5 Years |
| Risk-free interest rate |
2.59% |
1.5% |
| Expected dividend yield |
None |
None |
|
| Rollforward of option activity |
Option activity for the years ended
December 31, 2018 and 2017 under the 2008 and 2011 Plans are as follows:
| |
|
Number of Options |
|
|
Weighted
Average
Exercise
Price |
|
| Outstanding at December 31, 2016 |
|
|
19,917,007 |
|
|
$ |
0.25 |
|
| Granted |
|
|
645,000 |
|
|
|
0.16 |
|
| Exercised |
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
(1,095,000 |
) |
|
|
0.19 |
|
| Expired |
|
|
(4,250,343 |
) |
|
|
0.33 |
|
| Outstanding at December 31, 2017 |
|
|
15,216,664 |
|
|
$ |
0.23 |
|
| Granted |
|
|
707,500 |
|
|
|
0.20 |
|
| Exercised |
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
(1,015,000 |
) |
|
|
0.19 |
|
| Expired |
|
|
(88,575 |
) |
|
|
0.63 |
|
| Outstanding at December 31, 2018 |
|
|
14,820,589 |
|
|
$ |
0.23 |
|
| Exercisable at December 31, 2018 |
|
|
14,674,758 |
|
|
$ |
0.23 |
|
| Weighted average grant date fair value |
|
|
|
|
|
$ |
0.13 |
|
|
| Stock options information by exercise price |
The following
table summarizes information about employee stock options outstanding at December 31, 2018:
| |
|
Options Outstanding |
|
|
Options Exercisable |
|
Range of
Exercise Price |
|
Number
Outstanding at
December 31, 2018 |
|
|
Weighted
Average
Remaining
Contractual
Life |
|
Weighted
Average
Exercise
Price |
|
|
Aggregate
Intrinsic
Value |
|
|
Number
Exercisable
at
December 31, 2018 |
|
|
Weighted
Average
Exercise
Price |
|
|
Aggregate
Intrinsic
Value |
|
| $0.13-0.33 |
|
|
14,820,589 |
|
|
4.75 Years |
|
$ |
0.23 |
|
|
$ |
– |
|
|
|
14,674,758 |
|
|
$ |
0.23 |
|
|
$ |
– |
|
| |
|
|
14,820,589 |
|
|
4.75 Years |
|
$ |
0.23 |
|
|
$ |
– |
|
|
|
14,674,758 |
|
|
$ |
0.23 |
|
|
$ |
– |
|
|
| Warrant activity |
Warrant activity for the years ended
December 31, 2018 and 2017 are as follows:
| |
|
Number of Warrants |
|
|
Weighted
Average
Exercise
Price |
|
| Outstanding at December 31, 2016 |
|
|
28,196,822 |
|
|
$ |
0.17 |
|
| Granted |
|
|
4,416,667 |
|
|
|
0.15 |
|
| Exercised |
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Expired |
|
|
(26,831,589) |
|
|
|
0.16 |
|
| Outstanding at December 31, 2017 |
|
|
5,781,900 |
|
|
$ |
0.17 |
|
| Granted |
|
|
1,581,117 |
|
|
$ |
0.21 |
|
| Exercised |
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Expired |
|
|
(645,067 |
) |
|
|
0.25 |
|
| Outstanding at December 31, 2018 |
|
|
6,717,950 |
|
|
$ |
0.17 |
|
| Exercisable at December 31, 2018 |
|
|
6,717,950 |
|
|
$ |
0.17 |
|
| Weighted average grant date fair value |
|
|
|
|
|
$ |
0.13 |
|
|