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4. Stock Option Plan (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock option activity
         Options Outstanding 
    Options Available    Number of Options    Weighted-Average Exercise Price 
Balances at January 1, 2016   —      —     $—   
Initial option pool   700,000    —        
Granted (1)   (280,000)   280,000    0.001 
Forfeited   —      —      —   
Exercised   —      —      —   
Balances at December 31, 2016   420,000    280,000    0.001 
Option pool increase (2)   900,000    —      —   
Granted (3)   (378,592)   378,592    1.63 
Forfeited   —      —      —   
Exercised   —      —      —   
Balances at December 31, 2017   941,408    658,592    0.94 

  

(1) 273,000 options vested 50% upon grant date, 25% upon the 6-month anniversary of grant date and 25% upon the 1-year anniversary of grant date; 7,000 options vested monthly over 6 months.

 

(2) In October 2017, the Company’s Board of Directors increased the option pool to 1,600,000 shares.

 

(3) 336,544 options vest 6/48ths at the six-month anniversary of grant date and 1/48th per month thereafter 21,024 options vest 6/24ths on the six-month anniversary of grant date and 1/24th per month thereafter; and 21,024 options vest 6/42nds on the six-month anniversary of grant date and 1/42nd per month thereafter.

  

Summary of options outstanding
Exercise Prices  Number of Shares Outstanding  Weighted Average Remaining Contractual Term  Number of Shares Fully Vested and Exercisable  Weighted Average Remaining Contractual Term
$0.001    555,520     8.7 years    337,400    8.4 years 
$6.00    103,072     9.6 years    —      N/A 
      658,592         337,400