STOCK OPTIONS

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

STOCK OPTIONS

NOTE 14 – STOCK OPTIONS

During the three months ended March 31, 2021, the Company granted five-year options to purchase up to 1,262,000 shares of common stock at exercise prices ranging from $0.51 and $0.90 per share. The fair values of these options of approximately $541,000 in the aggregate are being amortized to compensation expense over their vesting periods, of which approximately $170,000 was amortized during the three months ended March 31, 2021. Additionally, compensation expense in the first quarter of 2021 for options issued in previous years, and continuing to be amortized over their respective vesting periods, approximated $124,000.

During the three months ended March 31, 2020, no options were granted. Compensation expense in the first quarter of 2021 for options issued in previous years, and continuing to be amortized over their respective vesting periods, approximated $330,000.

During the three months ended March 31, 2021 and 2020, options to purchase 50,000 and 30,000 shares of common stock, respectively, were forfeited or expired, resulting in an aggregate reduction of amortized compensation expense of zero in 2021 and approximately $19,000 in 2020.

Stock options outstanding and exercisable as of March 31, 2021 were:

		Shares Under Option
Exercise Price per Share		Outstanding		Exercisable		Remaining Life in Years
	$0.140		160,000		40,000	4.28
	$0.149		500,000		500,000	4.76
	$0.169		200,000		200,000	4.62
	$0.210		70,000		50,000	4.65
	$0.225		2,000,000		875,000	4.61
	$0.250		20,000		15,000	4.17
	$0.250		50,000		-	4.57
	$0.250		800,000		200,000	4.62
	$0.250		80,000		40,000	4.65
	$0.250		50,000		50,000	3.92
	$0.300		554,500		277,250	4.00
	$0.417		900,000		900,000	3.74
	$0.450		125,000		125,000	0.51
	$0.505		100,000		-	4.76
	$0.505		800,000		-	4.78
	$0.590		15,000		15,000	3.69
	$0.630		300,000		300,000	0.75
	$0.770		200,000		200,000	1.75
	$0.830		287,000		71,750	4.98
	$0.890		10,000		-	4.81
	$0.892		40,000		-	4.81
	$0.895		25,000		-	4.82
	$0.900		50,000		50,000	2.11
	$0.910		50,000		50,000	1.56
	$0.950		50,000		50,000	1.75
	$0.992		300,000		300,000	3.49
	$1.000		125,000		125,000	3.59
	$1.350		100,000		75,000	2.33
	$1.950		375,000		375,000	2.25
	$2.320		100,000		100,000	2.45
	$2.450		2,000,000		2,000,000	1.73
	$2.500		100,000		100,000	2.41
	$2.650		200,000		200,000	2.48
	$2.850		56,250		56,250	1.70
	$2.850		100,000		100,000	2.70
	$3.000		25,000		25,000	2.71
	$3.725		100,000		100,000	2.69
			11,017,750		7,565,250