4. SHAREHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Fair value assumptions

	June 30, 2019
Risk-free interest rate	1.74%
Expected volatility	75%
Expected dividend yield	Nil
Expected term in years	2.3
Estimated forfeiture rate	Nil
Estimated exercise price	$0.34
Estimated enterprise value per common share	$0.00

	Six months ended June 20,
	2020			2019
Risk-free interest rate		1.45	%		2.49	%
Expected volatility		148	%		141	%
Expected dividend yield		Nil			Nil
Expected term in years		5.0			5.0
Estimated forfeiture rate		Nil			Nil

Stock option activity

	2020		2019
	Number of Stock Options	Weighted Average Exercise Price	Number of Stock Options	Weighted Average Exercise Price
Outstanding, beginning of period	3,450,000	$ 0.16	3,385,400	$ 0.44
Granted	750,000	0.83	850,000	0.07
Exercised	(500,000)	0.32	–	–
Cancelled/Expired	–	–	(161,400)	1.00
Outstanding, end of period	3,700,000	$ 0.25	4,074,000	$ 0.21
Exercisable, end of period	2,525,000	$ 0.11	2,849,000	$ 0.20
Weighted-average fair value per share of options granted during period	$       0.75		$       0.07