STOCK OPTIONS

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

STOCK OPTIONS

NOTE 15 – STOCK OPTIONS

During 2021, the Company granted three- and five-year options to purchase up to 30,873,921 shares of common stock at exercise prices ranging from $0.30 to $1.00 per share. The fair value of these options of approximately $18,690,000 in the aggregate is being amortized to compensation expense over the respective option vesting periods, of which approximately $12,281,000 was amortized in 2021. Additionally, compensation expense in 2021 for options issued in previous years, and continuing to be amortized over their respective vesting periods, approximated $235,000.

During 2020, five-year options to purchase up to 4,494,500 shares of common stock were issued to employees at exercise prices ranging from $0.14 to $0.30 per share. The fair value of these options of approximately $501,000 in the aggregate is being amortized to compensation expense over their respective vesting periods, of which approximately $282,000 was amortized in 2020. Additionally, compensation expense in 2020 for options issued in previous years, and continuing to be amortized over their respective vesting periods, approximated $801,000.

During 2021, options to purchase 496,000 shares of common stock were exercised at prices ranging from $0.14 to $0.63 per share. Of these exercised options, 325,000 were exercised on a cashless basis with the exercise prices paid via the surrender of 218,627 shares of common stock.

During 2019, options to purchase 3,667,499 shares of common stock were exercised at prices ranging from $0.8 to $0.77 per share. Of these exercised options, 2,167,499 were exercised on a cashless basis with the exercise prices paid via the surrender of 405,691 shares of common stock.

During 2021 and 2020, options to purchase 362,000 and 200,000 shares of common stock, respectively, were forfeited or expired, resulting in an aggregate reduction of amortized compensation expense of approximately $42,000 in 2021 and $113,000 in 2020.

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

Exercise Price		Shares Under Option				Remaining Life
per Share		Outstanding		Exercisable		in Years
$	0.140		80,000		80,000		3.52
$	0.149		500,000		500,000		4.00
$	0.169		200,000		200,000		3.87
$	0.225		2,000,000		1,437,500		3.86
$	0.250		50,000		50,000		3.17
$	0.250		20,000		20,000		3.41
$	0.250		50,000		25,000		3.82
$	0.250		800,000		800,000		3.87
$	0.250		80,000		80,000		3.90
$	0.300		398,000		398,000		3.25
$	0.417		900,000		900,000		2.98
$	0.505		100,000		75,000		4.01
$	0.505		800,000		300,000		4.03
$	0.590		15,000		15,000		2.93
$	0.690		15,000		-		4.92
$	0.693		500,000		-		4.94
$	0.700		650,000		50,000		4.92
$	0.740		520,000		425,625		4.33
$	0.755		1,050,000		550,000		4.98
$	0.770		200,000		200,000		1.00
$	0.800		25,000		-		4.89
$	0.830		287,000		215,250		4.23
$	0.830		600,000		150,000		4.41
$	0.840		878,921		600,000		4.54
$	0.840		99,000		39,600		4.59
$	0.850		90,000		41,250		4.45
$	0.850		72,500		-		4.88
$	0.870		250,000		-		5.00
$	0.880		11,550,000		5,925,000		4.52
$	0.880		15,000		625		4.62
$	0.880		410,000		-		4.84
$	0.890		10,000		2,500		4.06
$	0.892		40,000		20,000		4.05
$	0.895		25,000		18,750		4.07
$	0.898		11,250,000		5,625,000		4.75
$	0.900		50,000		50,000		1.36
$	0.910		50,000		50,000		0.81
$	0.920		300,000		18,750		4.51
$	0.928		500,000		100,000		4.61
$	0.950		50,000		50,000		1.00
$	0.970		100,000		75,000		4.45
$	0.983		145,000		36,250		4.49
$	0.990		500,000		-		4.72
$	0.992		300,000		300,000		2.74
$	1.000		15,000		15,000		2.46
$	1.000		125,000		125,000		2.84
$	1.350		100,000		100,000		1.58
$	1.950		375,000		375,000		1.50
$	2.320		100,000		100,000		1.69
$	2.450		2,000,000		2,000,000		0.98
$	2.500		100,000		100,000		1.65
$	2.650		200,000		200,000		1.73
$	2.850		56,250		56,250		0.95
$	2.850		100,000		100,000		1.95
$	3.000		25,000		25,000		1.96
$	3.725		100,000		100,000		1.94
			39,821,671		22,720,350