STOCK INCENTIVE PLANS

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK INCENTIVE PLANS

NOTE 10 - STOCK INCENTIVE PLANS

Stock Options

The following table summarizes stock option activity for the year ended December 31, 2020 and 2019:

	Options Outstanding
	Shares			Weighted Average Exercise Price
Outstanding, December 31, 2018		5,613,057		$	0.83
Options granted		1,985,000			0.35
Options expired / forfeited		(3,526,724	)		0.76
Outstanding, December 31, 2019		4,071,333		$	0.58
Options granted		—			—
Options expired / forfeited		(3,679,983	)		0.53
Outstanding, December 31, 2020		391,350		$	1.00
Exercisable, December 31, 2020		391,350		$	1.00

During the year ended December 31, 2019, the Company granted an aggregate of 1,985,000 stock options to employees at exercise prices ranging from $0.09 to $0.37 per share with a 10-year term. A total of 575,000 options were immediately vested and 550,000 options were performance based options that were contingent upon the Company meeting certain sales and stock-price target goals. All of the performance based options were forfeited on December 31, 2019.

The following table summarizes additional information on the Company’s stock options outstanding at December 31, 2020:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted- Average Remaining Contractual  Life (Years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$0.98 - $1.00		383,500		2.32	$	0.98		383,500	$	0.98
$1.70		4,050		1.02	$	1.70		4,050	$	1.70
$2.60		3,800		0.01	$	2.60		3,800	$	2.60
Totals		391,350		2.29	$	1.00		391,350	$	1.00

No stock options were issued by the Company during the year ended December 31, 2020.

As of December 31, 2020, the Company had no unrecognized compensation expense related to unvested stock options. Total expense related to stock options was approximately $8,000 and $765,000 for the years ended December 31, 2020 and 2019, respectively.

As of December 31, 2020, the intrinsic value of options outstanding or exercisable was $0 as there were no options outstanding with an exercise price less than $0.04, the per share closing market price of our common stock at that date.